Use our two-wheeler loan EMI calculator to quickly estimate your monthly EMI. Simply enter your loan amount, tenure, and interest rate to calculate the total interest payable.
✓ Interest Rates Starting @ 0.99% p.a. ✓ Up to 100% Financing ✓ Repayment Tenure of up to 4 Years
You can use the two-wheeler loan EMI calculator on Bajaj Markets to estimate your monthly EMIs instantly. Simply input your loan amount, chosen tenure, and eligible interest rate to see how much you’ll have to pay each month. You can adjust the tenure and interest rates to find a suitable EMI as per your budget. This online tool can also help you compare different loan options, plan repayments, and avoid manual errors. Use the bike loan calculator, get accurate results in seconds, and make well-informed decisions.
Know More About the Two-wheeler Loan EMI Calculator
The EMI for your bike loan can be calculated using a simple mathematical formula. Here’s the EMI calculation formula for two-wheeler loan for your reference:
EMI = [P x R x (1 + R)N] / [(1 + R)N– 1]
Where:
P is the principal loan amount
R is the monthly interest rate
N is the total number of monthly instalments
Let’s understand this with an example:
Assume you take a loan of ₹1,00,000 for 12 months at an interest rate of 9% per annum.
Loan Amount (P) = ₹1,00,000
Annual Interest Rate = 9%
Monthly Interest Rate (R) = 9 ÷ 12 = 0.0075
Loan Tenure (N) = 12 months
Now, applying the formula:
EMI = [1,00,000 x 0.0075 x (1 + 0.0075)¹²] / [(1 + 0.0075)¹² – 1]
= ₹8,745 (approximately)
Doing these calculations manually can be confusing and time-consuming. Instead, you can use an online bike loan EMI calculator or a 2-wheeler loan EMI calculator to get accurate results instantly.
These calculators are available on most financial websites and require only basic loan details. Using the two-wheeler loan calculator also helps you compare different loan terms easily, saving time and effort.
To calculate your EMI using a bike loan EMI calculator, simply enter the necessary details—loan amount, repayment tenure, and interest rate—in the tool. The calculator will then display your estimated monthly EMI, total interest payable, and the overall repayment amount.
Here’s an example to illustrate how it works:
If you wish to take a two-wheeler loan of ₹2 Lakhs at an interest rate of 10% for a tenure of 5 years, follow these steps:
Enter the loan details in the respective fields, or use the slider to adjust them as needed.
Once the information is entered, the calculator will automatically show the following results:
EMI Amount : ₹4,249.41
Total Interest : ₹54,964.54
- Total Amount : ₹2,54,964.54
Let’s understand this better with an example. Assume you are taking a loan of ₹1 Lakh for a tenure of 12 months at an interest rate of 9% per annum. Simply enter these details in the two-wheeler EMI calculator, and it will show your result instantly. In this case, the EMI comes to around ₹8,745.
Now, let’s see how the EMI changes across different tenures and loan amounts, assuming the interest rate stays constant at 9% per annum.
Tenure |
EMI for a Loan of ₹1 Lakh |
EMI for a Loan of ₹2 Lakhs |
EMI for a Loan of ₹3 Lakhs |
EMI for a Loan of ₹4 Lakhs |
1-Year |
₹8,745 |
₹17,490 |
₹26,235 |
₹34,981 |
2-Year |
₹4,568 |
₹9,137 |
₹13,705 |
₹18,274 |
3-Years |
₹3,180 |
₹6,360 |
₹9,540 |
₹12,720 |
4-Years |
₹2,489 |
₹4,977 |
₹7,466 |
₹9,954 |
5-Years |
₹2,076 |
₹4,152 |
₹6,228 |
₹8,303 |
Disclaimer: The above values are estimates and may vary. Please confirm the exact EMI amount with your lender before making any financial commitments.
Benefits of Using the Bike Loan EMI Calculator on Bajaj Markets
Planning your bike purchase becomes easier when you know exactly how much you need to repay every month. Here are some key benefits of using an EMI calculator for a bike loan:
Saves Time
A bike loan EMI calculator gives instant results, saving you from manual calculations. You can quickly check your monthly payments without any delay.
Check the EMI Value
The bike finance EMI calculator shows your expected EMIs clearly, helping you plan your monthly expenses. It also helps in better budgeting and financial planning.
Compare Options Easily
You can compare loan amounts, tenures, and interest rates with the two-wheeler loan calculator to find a suitable option. This helps you choose a two-wheeler loan that suits your budget and needs.
Enjoy Greater Convenience
The EMI calculator for two-wheeler is easy to use and requires only basic details. You can access it anytime from your phone or computer.
Check for Feasibility
The 2-wheeler loan EMI calculator helps you check if the loan fits your budget. You can assess total repayments and monthly payouts in advance.
Plan Your Repayments
Use the online bike loan EMI calculator to plan part-payments or early closure. The amortisation schedule shows how each EMI reduces your loan balance.
Get Rid of Manual Calculations
The bike loan instalment calculator removes the need for manual calculations, thus reducing errors. It ensures quick, accurate, and hassle-free EMI results.
Safety
Using an online EMI calculator for a bike is secure as it does not require personal details. You only enter the basic loan information to get your results.
Frequently Asked Questions
Can I change the loan tenure to adjust the EMI amount?
Yes, you can adjust the loan tenure before finalising your loan to see how it impacts the EMI. A longer tenure lowers your EMI, but it increases the total interest paid over the loan period.
What is the difference between the principal and the EMI amount?
The principal is the original loan amount you borrow to buy the bike. The EMI includes both the repayment of the principal and the interest charged by the lender, spread across the loan tenure.
Can I change my loan tenure after the loan is approved?
In some cases, lenders may allow you to revise your loan tenure after approval. However, this depends on your lender’s policies and the terms of your loan agreement.
Is the EMI calculator accurate?
An EMI calculator uses standard mathematical formulas to give you quick and precise results. However, it does not account for additional charges like processing fees or down payment Check with your lender for the exact EMI and additional costs involved.
Can I use the EMI Calculator for any two-wheeler loan?
Yes, you can use the two-wheeler EMI calculator for any loan, regardless of the lender or bike model. It gives a reliable estimate of your monthly instalments.
What is the difference between reducing balance EMI and flat rate EMI?
Reducing balance EMI charges interest only on the outstanding loan amount, which decreases over time. Flat rate EMI calculates interest on the full loan amount throughout the tenure, resulting in higher interest costs.
Can I calculate the total interest payable using the EMI calculator?
Yes, once you enter the loan amount, interest rate, and tenure, the calculator shows your monthly EMI and the total interest payable over the entire loan period.
Do I need to enter the down payment amount in the two-wheeler EMI calculator?
No, the EMI calculator only needs the loan amount (after down payment), interest rate, and tenure. It does not require the down payment value itself.
How do I find out the interest rate applicable for a two-wheeler loan before using the EMI calculator?
You can visit an online financial marketplace like Bajaj Markets to compare two-wheeler loan interest rates offered by various lenders and choose the one that best suits your needs.
Can I use the bike EMI calculator on my mobile phone?
Yes, most EMI calculators are mobile-friendly and can be used on a smartphone browser or via mobile apps of financial marketplaces like Bajaj Markets . You can compute your bike loan EMI on the go by entering the loan amount, interest rate and tenure
Is it necessary to provide my personal details to use the EMI calculator?
No, basic loan EMI calculators typically do not require personal information. They only need the loan amount, interest rate and repayment tenure to estimate monthly instalments. You will only have to enter your personal details when you apply for a two-wheeler loan.
Can I calculate bike loan EMIs for both salaried and self-employed applicants?
Yes, an EMI calculator computes instalments from just the principal, rate, and tenure. So, it can be used for both salaried and self-employed applicants to compare monthly outflows. However, salaried and self-employed applicants may get different financing terms as per their bike loan eligibility criteria. So discuss with the lender and check the final loan EMI accordingly.
Can the EMI calculator help me decide the ideal bike loan tenure?
Yes, you can adjust the numbers for different tenures to see how each repayment period affects your monthly EMI and total interest. This can help you choose a repayment period that balances affordability and cost.
