About bike loan emi calculator
A two-wheeler loan is usually short and small, but the interest rate can be higher than for a car. The calculator shows the EMI, interest and total cost.
Tips
- Pay a larger down payment to keep the loan small.
- Ask about processing fees and insurance bundled with the loan.
- Compare the dealer's finance offer with a bank's.
A worked example
A ₹90,000 two-wheeler loan at 11 percent over 3 years has an EMI of about ₹2,946 and total interest of about ₹16,000. Paying ₹30,000 as a down payment on a ₹1.2 lakh bike gives this loan amount and keeps the EMI small.
Watch out for
Zero down payment schemes often carry a higher rate or fees. Add the cost of insurance and registration before comparing offers.
Comparing tenures
On a ₹90,000 loan at 11 percent, a 2-year tenure has an EMI of about ₹4,195 and a 3-year tenure about ₹2,946. The shorter loan costs about ₹5,400 less in interest, so choose the shortest period you can afford.
