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Nowadays, moving rapidly through congested streets has become a simple task by owning a bike. With all the extra time you’ll have, you can get more work done, go to extremely remote places, and discharge your responsibilities more efficiently.
You may fulfill your dream of purchasing a pre-owned or brand-new bike with a bike loan provided by Finnable at a startlingly low-interest rate. Obtaining the two-wheeler of your dream is made simple by benefits such as a 100% digital application procedure, a seamless experience, and the option to get the bike on EMI, with a loan amount up to Rs 10 lakh!
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An online tool called a bike loan EMI calculator determines the monthly payment you will need to make to withdraw and settle your two-wheeler loan. To calculate the EMI, you must enter the principal sum, interest rate, and tenor. Besides, the instrument can be used to assess your ability to repay.
The Finnable bike loan EMI calculator is truly effective since it lets you carefully figure out your loan requirements when you plan to withdraw a loan for a motorcycle. The Finnable EMI loan calculator for bike is an easy-to-use online tool that anyone may utilise, regardless of financial background.
Let’s explore some of the key benefits of using an EMI calculator for a Finnable bike loan:
Purchasing a bike can be a thrilling experience. Knowing the product and the financial aspects will help you choose the finest two-wheeler loan and make the most of your brand-new motorcycle. In addition to the EMI value, the Finnable free tool offers helpful details, including the breakdown of the charges associated with the loan, such as accrued interest and processing fees.
It’s quite simple to calculate the EMI for a bike loan. No sooner do you enter the down payment, loan term, and interest rate than an EMI option will get triggered. The bike loan EMI calculator bases the installment payment on a reducing balance policy. Processing fees or other additional costs that are not included in the EMI may be necessary depending on the regulations of the lending institutions.
As well as helping you meet your financial needs, Finnable is here to assist you to keep track of your financial information. One of Finnable’s key services is a Digital Equated Monthly Installment Calculator, which allows you to calculate EMI for a bike loan, including your monthly installment and the total amount due.
Knowing your EMI loan calculator for bike before applying for the bike loan enables you to make informed financial choices. It’s not as easy as it looks because the sum integrates the loan’s interest plus a portion of the principal that needs to be paid back.
Following is the EMI calculation formula:
Formula for the bike loan EMI calculator: P x R x (1+R) N / [(1+R) N-1]; where:
You don’t have to follow the conventional method wherein you must wait several weeks or months for your loan acceptance. With its complete digital service, the Finnable online calculator for bike loan app can help you calculate your EMI and save you valuable time.
You will be mandated to submit your KYC documents, which would include your identification and current address proofs, a duplicate of your PAN card, your bank statement, and your income validations (Salary Slip).
The monthly payments you make to your lender, i.e., Finnable to pay back your bike loan, are known as EMIs or Equated Monthly Installments. Simply put, EMI = Principal Amount + Interest on Principal Amount, which includes both principal and interest. The accompanying formula for calculating Bike Loan EMI can be used to compute EMI: P x R x (1+R)N / [(1+R)N-1] where P is the principal amount of the loan, N is the number of monthly payments, and R is the interest rate.
Lenders like Finnable often finance 90% of the bike's ex-showroom price. Some clients can also be qualified for 100% funding as an exception. It indicates that the RTO and insurance fees for the bike are included in the minimum down payment. The bike loan down payment construes to be the difference between the bike's on-road pricing and the lender's funding.
The principal amount and length of the loan are the primary determinants of the bike loan interest rate. Finnable's interest rates typically range from 16% to 28% annually.
The late payment penalty, which varies from lender to lender, is assessed whenever an EMI is delayed. Typically, lenders charge each month of the overdue amount.
The bulk of the lenders, including Finnable, provide bike loans with terms of one to three years. You can select the loan tenure based on your preferences. Finnable also offers a bike loan with a maximum 5-year term in exceptional cases.
Imagine if you had access to an online calculator for bike that would calculate your loan's principal, interest, and EMIs for you. With the help of their captive bike loan EMI calculator, Finnable is here to simplify your life.
With the application of eye-catching graphs and charts, we display our online calculator for bike loan most easily and engagingly as possible.
Terms and condition and legal disclaimer
Finnable is a personal loan app developed by Finnable Technologies Private Limited, which is a subsidiary of Finnable Credit Private Limited, a RBI licensed NBFC.
Example of Personal Loan for Salaried Professionals
✓ Loan Amount from ₹50,000 to ₹10,00,000
✓ Repayment period (loan tenor) options vary from 6 to 60 months
✓ Annual Interest Rate (APR) is 16% to 26% (on a reducing balance basis) + processing fees of 3 to 4% on the principal loan amount
✓ For Example – a loan of ₹1,00,000 with an APR of 16% (on a reducing balance basis), repayment tenure of 12 months, processing fee of 3%. The processing fee will be ₹3,000 + ₹540 GST with monthly EMI will be ₹9,394. The total loan amount will be ₹1,03,540. Total interest payable over 12 months will be ₹9,191. Total loan repayment amount is ₹103540 + ₹9191 = ₹1,12,731 *These numbers are for representation only and the final interest rate or processing fee may vary from one borrower to another depending on his/her credit assessment.
✓ Loan Prepayment Charges: 3 to 6% charge + 18% GST on the remaining principal amount (allowed after 6 EMI payments)
Why is Finnable the best personal loan app?
Instant Loans within 48 hours: Gone are the days when you had to wait weeks & months to get a loan approved.
Completely Digital/Paperless: Finnable instant loan app offers a complete digital service to help save time as well as paper!
Security & Privacy Policy
Finnable instant loan app ensures the safety of its customers via standard security. In simple terms, we do not share personal information
with third-party apps.
Contact Us: Drop us an email: makeiteasy@finnable.com
Address: IndiQube Lakeside, 4th Floor Municipal No. 80/2 Wing A, Bellandur Village Varthur, Hobli, Bengaluru, Karnataka 560103
Responsible Lending
Finnable has partnered with RBI authorised & regulated NBFCs/Financial Institutions.
Our policies and services are fully regulated and legally compliant.
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Finnable is one of the fastest growing financial technology (Fintech) start-up with an NBFC license from RBI providing hassle free loans. Our mission is to make Personal loans available in less than 24 hours
Example of Personal Loan for Salaried Professionals
✓ Loan Amount from ₹50,000 to ₹10,00,000
✓ Repayment period (loan tenor) options vary from 6 to 60 months
✓ Annual Interest Rate (APR) is 16% to 26% (on a reducing balance basis) + processing fees of 3 to 4% on the principal loan amount
✓ For Example – a loan of ₹1,00,000 with an APR of 16% (on a reducing balance basis), repayment tenure of 12 months, processing fee of 3%. The processing fee will be ₹3,000 + ₹540 GST with monthly EMI will be ₹9,394. The total loan amount will be ₹1,03,540. Total interest payable over 12 months will be ₹9,191. Total loan repayment amount is ₹103540 + ₹9191 = ₹1,12,731 *These numbers are for representation only and the final interest rate or processing fee may vary from one borrower to another depending on his/her credit assessment.
✓ Loan Prepayment Charges: 3 to 6% charge + 18% GST on the remaining principal amount (allowed after 6 EMI payments)
Why is Finnable the best personal loan app?
Instant Loans within 48 hours: Gone are the days when you had to wait weeks & months to get a loan approved.
Completely Digital/Paperless: Finnable instant loan app offers a complete digital service to help save time as well as paper!
Why is Finnable the best personal loan app?
Instant Loans within 48 hours: Gone are the days when you had to wait weeks & months to get a loan approved.
Completely Digital/Paperless: Finnable instant loan app offers a complete digital service to help save time as well as paper!
CIBIL Score Not Required for Taking a Loan: Unlike other personal loan apps online, you can take a loan even without an existing CIBIL Score
No Hidden Charges: A key feature that makes Finnable one of the best loan apps available is transparency. There are no hidden charges whatsoever, making the entire process a smooth one.
Finnable instant loan app offers a wide range of EMI plans. You can also use our personal loan EMI calculator to help you choose the perfect plan.
Loan Eligibility Criteria for Salaried Individuals (No Blue-Collar Employees)
•The net in-hand salary of the individual has to be ₹25k and above in metros or ₹15k and above in tier 2 & other cities
•He/she should have worked for more than six months
•First-time borrowers need to have a Finnable score of 650
•The individual should have valid Aadhaar, Pan & Address proof
•Finnable Loan is currently available in 23 cities
How to Apply for Instant Personal Loans Online?
• Register with OTP
• Ensure that you have the documents listed on the Web/App
• Provide details of amount required, net monthly salary & any other EMIs
• Do KYC & profile setup
• Validate address with pin code verification
• Select amount & tenure
• Provide bank details
APR Charges
The APR (Annual Percentage Rate) charges differ from person to person as it considers the different products availed and the risk profile of the customer. However, it generally ranges between 16%-26%.
Security & Privacy Policy
Finnable instant loan app ensures the safety of its customers via standard security. In simple terms, we do not share personal information
with third-party apps.
Contact Us: Drop us an email: makeiteasy@finnable.com
Address: IndiQube Lakeside, 4th Floor Municipal No. 80/2 Wing A, Bellandur Village Varthur, Hobli, Bengaluru, Karnataka 560103
Responsible Lending
Finnable has partnered with RBI authorised & regulated NBFCs/Financial Institutions.
Our policies and services are fully regulated and legally compliant.
Check your Loan Eligibility in 2 min
