Two-Wheeler Loan EMI Calculator

To calculate your EMI using a bike loan EMI calculator, simply enter the necessary details—loan amount, repayment tenure, and interest rate—into 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 Payable – ₹54,964.54

• Total Amount Payable – ₹2,54,964.54

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 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]

• EMI = ₹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 bank 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.

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 into the EMI calculator for two-wheeler, and it will show your result instantly. In this case, the EMI works out 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.

Disclaimer: The above values are estimates and may vary. Please confirm the exact EMI amount with your lender before making any financial commitments.