Bike Loan EMI Calculator – Auto Loan and Financing

How We Can Calculate Two Wheeler Loan EMI?

Motorcycles in India sell like hotcakes. The reason is simple. When compared to a car, the ownership costs of a bike are pretty low. Furthermore, parking a bike is easy and weaving through traffic is a breeze.

However, the days of buying motorcycles with cash are long gone. The reason is that the ex-showroom prices of motorcycles available in India have gone up. To put things into perspective, even a commuter bike now entails an ex-showroom price of INR. 90, 000 approximately.

Hence, the demand for instant approval bike loans has skyrocketed. On top of this, leading lenders now offer bespoke interest rates, tenures and conditions on bike loan schemes. Then there are the benefits of financing a bike. With the help of bike finance, the buyer can choose the bike that they want. People who want to boost their credit score and credit history can do so with a bike loan. Furthermore, a bike loan allows one to keep emergency funds intact. It means that one would not need to empty their savings or withdraw their fixed deposits to buy a bike. Bike loans act like financial cushions on which a buyer can fall back when they want to buy a bike.

But how can one calculate two-wheeler loan EMI?

Well, to calculate the tentative EMI of a bike loan scheme that one fancies, one can use an EMI calculator. An EMI calculator tool is a free-to-use online application integrated with the official websites of leading lenders. One can also find an EMI calculator tool in leading bike news portals.

Must Read: Simple Tips to Get Low Interest Rates on Preferred Bike Loans

How We Can Calculate Bike Loan EMI Offline and Online?

Bike EMI Calculator

Motorcycle prices are skyrocketing with each passing year in India. Hence, a motorcycle loan is the only way to buy a bike these days.

However, one should be patient when choosing a loan scheme. One should always use a bike loan EMI calculator before taking the final decision.

What is an EMI calculator?

EMI calculators are free-to-use tools available on the websites of lenders and bike portals. The basic function of a Bike Loan EMI Calculator is to allow one to learn the tentative EMI for a loan.

Why one should use an EMI calculator?

Many reasons make it important for one to use an EMI calculator. Some of those reasons are mentioned below.

EMI calculators allow one to plan their repayment steps by selecting the best tenure + downpayment combination.
Selecting the perfect downpayment + tenure combination also allows one to keep EMIs for a loan affordable.
Selecting the perfect downpayment + tenure combination of a bike loan allows one to keep the interest rate low.

How does an EMI calculator work?

EMI calculators are programmed to run their calculations by using the mathematical formula mentioned below.

P x R x [(1 + R)N/((1 + R)N – 1]

The variables used in the formula above stand for different terms of a loan. The meanings of the variables are mentioned below.

P = Principal – The amount the lender offers to the borrower.
R = Rate of interest – The amount the lender would charge for the principal.
N = Tenure – The time (in months) within which the debt has to be repaid.

How to calculate EMIs offline?

If one wants to calculate the EMI for their motorcycle loan then they can calculate using the formula mentioned above.

Must read: How To Choose The Best Bike Loan Interest Rates?

What is Bike Loan EMI Calculator and How We Can Use It?

Bike EMI Calculator

EMI calculators are free-to-use online tools available in bike portals as well as the official websites of lenders.

The working principle of a generic bike loan EMI calculator is quite simple. It is programmed to work by taking into account the mathematical EMI calculation formula.

Almost all bike loan EMI calculators entail a simple user interface. The UI is riddled with a series of empty labelled spaces. The user would have to fill up these empty spaces with the particulars of their bike loan. Most (if not all) EMI calculators would require the following loan particulars from a borrower.

Here goes –

Loan tenure of the loan
Borrowed amount and
Rate of interest.

After the above particulars are provided as input to the calculator tool, one has to press the ‘calculate’ on-screen button. After that, the approximate EMI for the bike loan will be displayed in no time!

Why one should use a bike EMI calculator?

There are many benefits in store for borrowers who use an EMI calculator before they apply for a bike loan. Some of them are as follows –

With the help of an EMI calculator, one can check whether the tentative EMIs for the loan will be affordable or not.
With the help of the EMI calculator, one can choose the best principal + tenure combination. In this way, the borrower can keep the EMIs and interest rate on the loan affordable.
With the help of an EMI calculator, the borrower can plan ahead. Ensuring that one has the financial means to support the EMIs of the loan is possible with an EMI calculator.

Must read: How To Get Instant Approvals On Bike Loan?

What is a Bike Loan EMI Calculator and How Does it Work?

Bike EMI Calculator, Two Wheeler Loan EMI Calculator

The prices of motorcycles sold in India are being relentlessly hiked over the past two years. This means that the majority of motorcycles in India are out of reach for the common person. So, what can one do? As spending a boatload of cash is not a wise decision especially when cash is king in India.

The solution is to apply for a bike loan.

Why?

The benefits of a bike loan are many. Some of them are as follows –

The loan will offer a financial cushion to the loan applicant and keep them from breaking their FD or savings.
With each EMI paid on time, the loan applicant will be boosting their credit score and credit history.
Bike loans can also help the loan applicant to reduce the financial burden on their shoulders. How? Well, bike loans come with flexible tenures, interest rates and repayment options. Hence, one can choose a loan scheme that suits their needs.

There is a catch though!

One should only apply for a motorcycle loan after they have used a bike EMI calculator.

What is that!?

A bike loan EMI calculator is a free-to-use tool that all NBFCs and banking institutions offer on their official websites. These tools allow borrowers to have a vague idea about the EMIs they would need to bear for the loan.

How does the tool work?

The EMI calculator tool works on the principle of the following mathematical formula –

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

The meanings of the variable mentioned in the formula above are as follows –

P is the loan amount.
R is the rate of interest and
N stands for the number of EMIs.

Users would need to put the values as per their preference along with the tenure in months. For more details, one must consult with their financial advisor as soon as possible.

Must read: How To Select The Best Two Wheeler Loan Based On Interest Rate

How To Calculate EMI on Bike Loans with EMI Calculator?

Bike EMI Calculator

Applying for a bike loan is inevitable these days. The ex-showroom prices of motorcycles in India have been hiked by several folds in the last couple of years. Hence, buying a bike using cash is out of the question.

A bike loan will be accompanied by EMIs. EMI is the abbreviated form for equated monthly instalment.

It is the fixed amount + interest that the loan applicant pays back to the lender monthly. This trend will continue until the borrower pays back the debt + interest to the lender in full.

Why calculate EMI?

Calculating the EMI allows the borrower to make sure that they can bear the burden of the loan.

How to calculate EMI for a bike loan?

Calculating the EMI of a bike loan can be done by using a bike loan EMI calculator. It is a nifty little, free-to-use tool that leading lenders offer on their websites.

How does the tool work?

An EMI calculator tool is programmed to run calculations based on the formula EMI = [P x R x (1+R)^N]/[(1+R)^N-1]. The meanings of the variables in the formula are as follows –

P – is the principal or borrowed amount
R – is the rate of interest and
N – is the tenure of the loan.

How to use an EMI calculator tool?

One has to visit the official website of their preferred lender and look for their EMI tool.
Then they would need to fill up the blank spaces with variables like loan amount, tenure and interest rate.
Then they would need to press the ‘calculate’ button.

Conclusion

To apply for a two wheeler loan, consulting with a reputed lender is strongly advised.

Must Read:

How To Choose The Best Bike Loan Interest Rates?

How To Calculate Two Wheeler Loan EMI?

Bike EMI Calculator

It is a good idea to apply for a bike loan instead of buying your dream bike using cash. The reason is simple – you will be able to keep your savings intact. Furthermore, you can also apply for a 0 downpayment loan. In this case, the whole MSRP of the bike will be paid for by the lender. However, the rate of interest and the EMIs will be higher in this case.

Another benefit of applying for a bike loan is that with EMI, your credit score will get a boost. A high credit score will make you automatically eligible for personal, home, car or business loans in the future.

How bike loan EMIs are calculated?

Before applying for two-wheeler loan you must calculate the EMI that you would have to bear each month.

How to do that?

Well, you can use the free-to-use online bike loan EMI calculator tool. These tools are available on the official websites of all leading lenders in India.

Simply input the parameters in the tool, follow on-screen instructions and learn about the EMI of your loan. The process will take just a few minutes of your time.

You can also follow an offline method to calculate bike loan EMIs –

Just follow the formula given below –

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

P is the borrowed money.
R is the rate of interest on the principal.
N is the number of EMIs to be paid to the lender.

For more details, consult your preferred lender or talk with a financial advisor today!

Must Read:

How To Choose The Best Bike Loan Interest Rates?

How Can We Calculate Bike Loan EMI Online Or Offline?

Bike EMI Calculator

When you are planning to buy a bike, an EMI can be a boon in disguise. EMI helps you pay a huge amount in small manageable instalments. However, calculating EMI before you apply for a loan is important. It allows you to pre-plan your repayment by giving you an idea of how to distribute your instalments and over what period.

**Methods Of EMI Calculation** –

There are two ways in which you can calculate EMI for your bike loan and then **apply for a bike loan**.

**1. The Offline Method**

For calculating EMI offline, there is a simple mathematical formula:

EMI = P x r x (1+r)n/ {(1+r) n-1}

Where,
P = the amount of bike loan you took
r = the interest rate
n= tenure in which you are supposed to repay the amount

The higher your amount of loan, the more will be the number of your instalments.

**2. The Online Method**

If maths is not the best of your subjects, the online method is a much easier way to calculate the EMI. Make sure you go to a trusted website like Bajaj Auto Finance, one of the top lenders, where they provide the facility of a **Bike loan EMI calculator**.

All you need to do is fill in the details like loan tenure, amount, interest rate and get a personalized EMI result in a matter of a few seconds.

**Conclusion**

You can use any of the two methods mentioned above according to your convenience. However, the online Bike loan EMI calculator is a better option as it eliminates errors and gives you faster results.

Must Read:

Top 5 Reasons Why Bike Loan is The Best Option

How We Can Calculate Bike Loan EMI Online?

Bike EMI Calculator

The prices of bikes these days are pretty high but if you play your cards right, you can easily buy your dream bike in no time by seeking financial assistance from leading lenders in India.

In this context, before signing the dotted line, you would need to make sure that you will be able to bear the EMI of the bike loan you have applied for.

How can you do that?

Well, most lenders these days have a special tool programmed into their official website. The name of this tool is a bike loan emi calculator.

How does it work?

Well, an online emi calculator will be using the all-too-familiar balance reducing mathematical method which will allow the tool to calculate the emi of your loan amount in no time.

What are the parameters that you would need to provide the tool with?

Well, before the emi calculator can spit out the correct EMI figure which you would need to bear for the tenure of your loan, you would need to provide the tool with the following parameters –

The principal or loan amount you have applied or are planning to apply for
The interest rate that the lender has agreed or has advertised to offer and
The tenure or the number of years allotted to you to pay off the debt.

A Complete Guide To Choosing The Best Two Wheeler Loan

bike loan, Two Wheeler Loan

If you want to buy a two-wheeler vehicle but are concerned that you cannot afford the whole amount at once, you can consider availing a two-wheeler loan. If this is the first time that you are applying for a loan, here’s a complete guide to choosing the best.

Research– One of the most important things before applying for Two Wheeler loan is to do a thorough research. Check the various loan offers from different lenders and compare them based on factors like rate of interest, EMI, plan benefits, tenure etc.
Interest Rate- Different lenders offer different interest rates on two-wheeler loans. The interest remains constant throughout the year, but the amount increases. Hence, select the finance company that has the minimum interest rate.
Loan Repayment- The tenure of repayment and EMI varies for different loan plans. You can calculate it by using the Two wheeler loan EMI calculator. This will give you an idea about the amount of EMI that you need to repay.
Tenure of the Loan– There are many tenure options available on two-wheeler loan, starting from 12 months to 48 months depending on your loan repayment capacity. The tenure of the loan repayment can be adjusted according to the necessity.
Offers- During festivals and other occasions, finance companies provide some additional offers and attractive discounts on the loan like low-EMI, low rate of interest, flexible tenure etc. You can make the most out of such occasions to get a better deal. This will allow you to save money and you can also buy your desired vehicle at the best price.

Hope these tips can help you find the best two-wheeler loan for your needs.

Must Read:

How To Calculate Two Wheeler Loan EMI Online Or Offline?

What are The Major Advantages of Bike Loan Instead of Cash Payment

bike loan, Two Wheeler Loan

When talking about day-to-day driving, eating food from the nearest mall or visiting a nearby city, two-wheelers are preferred mode of commutation for most people in India. However, you should ideally take a bike loan when purchasing a new two-wheeler instead of making cash payment upfront.

Advantages of a Bike Loan:-

Interest Rates

For two-wheelers, lenders offer low-interest rates for ease to make significant transactions, and these can be calculated by bike loan EMI calculator. The final interest rate usually depends on the income source of the borrower, credit score, the two-wheeler price and demand variation.

Quick Approval of Loans

Quick clearance of two-wheeler loans means fast payment for your two-wheeler when you purchase the same on financing.

Reduce the Burden on Your Budget

Another advantage of bike loans is that you can conveniently save while repaying your loan via instalments.

High Coverage of Loan Amount

If you are on a low budget, you can easily buy a two-wheeler with a higher bike loan coverage. You can always calculate your interest rate in a bike loan EMI calculator and decide the sum you want to borrow.

Conclusion

The simple benefit is you do not have to spend large sums of capital, which affects your liquidity adversely. If you use cash rather than a bike loan, the liquidity will be affected adversely.

Must Read:

How To Calculate Two Wheeler Loan EMI ?