uhh biking alot everyday will make you tired and get injured, but if you're just doing it a little bit each time then every day would be fine. really just don't strain yourself.
and i think by stop growing you're referring to a plateau. any exercise becomes less effective the more you do it because your body becomes more efficient at doing it. So, is weight loss is your ultimate goal, to accomplish the most in the littlest time you need to switch up the movements fairly regularly. good luck!