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How to Use Two-Wheeler Loan EMI Calculator to Calculate Monthly Instalment

3 Mins 25 Feb 2022 0 COMMENT


When purchasing a bike loan, several factors need to be considered. You not only need to decide which bike you want to buy; analyse the features it has to offer, but you also need to make sure that you can afford it. If you can’t afford to pay the entire amount to buy a bike, you can always consider taking a bike loan for it.

What is a bike loan/two-wheeler loan?

A bike loan/two-wheeler loan provides you with money that would cover the entire on-road price of the bike. That is the price you pay to bring the bike from the showroom where you bought the bike to the road. It includes prices like registration, road tax, insurance, showroom price and other optional charges.

Most banks also offer the option to buy a bike loan. They even provide pre-approved bike loans to existing customers based on their relationship with the bank. When purchasing a bike loan, you have to pay the lender equated monthly instalments (EMIs) on the amount borrowed. At first, the EMIs consists mainly of the interest amount and then later it is focussed on paying the principal.

Bike Loan EMI Calculator

A bike loan EMI calculator is a web-based tool that instantly calculates the EMI value for the two-wheeler loan you wish to borrow. Most banks and lenders offer this tool on their websites. It helps calculate the amount payable towards settling the loan that you borrowed.

You should enter the necessary information, and the online calculator gives you the result instantly. You will need to enter the loan amount; this is the amount that you borrowed from the lender. You also need to enter your interest rate. The rate that the lender charges you for the loan is a percentage of the amount you borrowed. You finally have to enter the loan term. That is the number of years for which you have borrowed the loan. Once you enter all the details, the calculator will display the results immediately. Thus, a two-wheeler loan EMI calculator does the work of calculating the EMI and lets you know how much you need to pay as equated monthly instalments and the total amount of interest payable.

Additional Read: 8 Things to Keep in Mind While Opting for a Pre-Used Car Loan

How to Calculate Two Wheeler Loan EMI:

Let us see a step-by-step guide of using the Bike Loan EMI Calculator

1)  Open the tool on the website by clicking the calculator option

2)  Manually enter the loan amount in the box, or you can drag your cursor along the blue line that reads “loan amount”. You can enter any value between ₹0 to ₹50 lakhs.

3)  Manually enter the interest rate in the box or drag the cursor along the blue line that read “interest rate.”

4)  Manually enter the loan term (in number of years) or drag the cursor along the blue line that reads “loan term (years).”

5)  Click on calculate, the answer will be displayed in a few seconds.

You can enter different amounts and get the answer for other EMIs you have to pay. That will help you decide on the part of the loan you want, the interest rate you are willing to pay, and the number of years you can take the loan.

Additional Read: How Can a Personal Loan be Used to Fund Your Education


The free-to-use online bike loan EMI calculator saves you the hassle of calculating the EMI value by hand. It also helps you know the exact value so that you can plan out your monthly expenses. Using this tool, you can also decide to change your loan amount, interest rate, and loan term. The longer the tenure, the lesser EMIs you have to pay. Apart from saving time and giving you accurate results, it also helps you be completely prepared to manage your expenditure so that you are in an excellent financial position to re-pay your loan at the end of the loan tenure.


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