Bike Loan EMI Calculator

Can you buy a new or used bike on EMI? With easy to avail bike loans, you can now purchase the bike of your dreams or upgrade to a new four-wheeler with the help of a vehicle loan.

You can apply for a two wheeler loan through Finnable effortlessly. You do not need to wait for a long time for the funds to be credited into your bank account. However, before you apply for a two-wheeler vehicle loan, you do need to meet all the criteria of eligibility for a bike loan and use a 2-wheeler loan calculator as well. 

A bike loan EMI calculator is exactly like a personal loan EMI calculator. You will need to enter your bike loan amount, choose the tenure, and enter the tentative interest rate. 

Using a bike loan EMI calculator is important at the time of applying for an instant loan. It gives you a fair idea of the EMI amount that you will need to pay once the loan amount has been credited to your account. This can help you budget your monthly finances so that you know what your monthly outflow will look like. 

Two Wheeler EMI Calculator

INR
%
  • Loan EMI

    Rs. pm

  • Total Interest Payable

    Rs

  • Total Amount Payable

    Rs

Bike Loan EMI Calculator - FAQs

To calculate your bike loan EMI, you will need to know the principal loan amount, the duration of the loan, and the tentative interest rate on the vehicle loan. The formula to calculate the bike loan EMI is:

EMI= Px Rx [(1+R)^N]/ [(1+R)^N-1]

Where, 

P=Principal amount

R=Rate of interest

N= Tenure of the loan 

The best way to calculate the EMI is to use the bike loan EMI calculator. 

The rate of interest on a bike loan is similar to the personal loan interest rate. At Finnable, the bike loan interest rate starts at 16% up to 26%.

A bike loan availed through Finnable is a personal loan and does not require any collateral or security against the loan amount.

You will now have to sign an e-mandate at the time of availing the two-wheeler loan. An e-mandate is an electronic standing instruction that will be issued to your bank stating that a certain amount (in this case, the EMI amount) is to be debited from your bank account every month. This will be valid until the end of the loan term. 

The maximum tenure for a bike loan is 5 years or 60 months.