## Two-wheeler Loan EMI Calculator

Calculate your two-wheeler loan instalments easily

## What is a two-wheeler loan EMI calculator

A two wheeler loan EMI calculator is an online tool to help you calculate your loan EMIs easily. Applicants can check their EMIs by entering just a few details. Enter your preferred two-wheeler brand and variant, price, down payment amount, annualised interest rate and tenure.

Once you enter these details, the calculator will show you the EMI along with the interest, loan amount, and total payment. Making this calculation in advance will help you plan your loan EMIs better. An EMI calculator is an essential tool to perform calculations to get estimates and plan for a loan.

## How to calculate your EMI using a two-wheeler loan calculator?

Estimating your monthly installments with our two-wheeler loan EMI calculator is simple and efficient. This online tool helps you plan your finances when purchasing a motorcycle or scooter. Here is how it works:

1. Input the loan amount, interest rate, and loan tenure (duration of the loan) into the specified fields of the calculator.
2. Click the 'Calculate' button to instantly get the Equated Monthly Installment (EMI) amount you will need to pay each month.
3. Adjust the inputs to explore different loan scenarios. This way, you can see how changes in loan amount, tenure, or interest rate affect your monthly payments.

Using a specific formula (P x R x (1+R)^N / [(1+R)^N-1]), where P is the principal loan amount, R is the interest rate per month, and N is the total number of monthly payments, the calculator provides accurate results.

For example, suppose you take a two wheeler loan for a bike with a loan amount of Rs. 50,000 at an annual interest rate of 12% for 3 years (36 months). Here, the values to calculate as per the formula will be:

• Principal amount (P) = Rs. 50,000
• Monthly interest rate (R) = 12% / 12 = 1% per month or 0.01 (decimal)
• Loan tenure (N) = 36 months

The calculated EMI for this example is approximately Rs. 1634.46 per month. This amount represents the fixed payment you would need to make each month for 36 months to repay the loan amount of Rs. 50,000, including interest.

This way, you can understand not only your monthly financial commitment but also the total interest you will pay and the repayment schedule. By using the two-wheeler loan EMI calculator online tool, you can make informed decisions about your two-wheeler loan for a new bike or scooter.

## Benefits of a two-wheeler loan EMI calculator

A two-wheeler loan EMI calculator is a handy tool for anyone looking to buy a bike or scooter on finance. It is easy to use and gives you quick answers about how much you will pay each month based on how much you borrow, how long you will borrow it for, and the interest rate.

Here are its main benefits:

• Easy and fast: It quickly calculates your monthly payments, saving you time and effort.
• Budget planning: Helps you plan your budget by showing exactly what you will need to pay monthly.
• Comparison tool: Lets you compare different loan options to see which one fits your budget best.
• Clear financial picture: Shows you the total interest you will pay over time, so you can make informed decisions.
• User-friendly: Simple interface makes it easy for anyone to use, even if you are not a financial expert.

Using a two-wheeler loan EMI calculator ensures you are prepared and informed before committing to a two-wheeler loan, making your bike or scooter purchase a smoother experience.

## Disclaimer

Results generated by the calculator(s) are indicative in nature. The interest rate applied on the loan will depend on the prevailing rates at the time of loan booking.

The calculator(s) are not intended to provide its users/ customers with results that are either certified by Bajaj Finance Limited (“BFL”) or are an obligation, assurance, warranty, undertaking or commitment, financial and professional advice by BFL, under any circumstances. The calculator(s) is only a tool that assists the users/ customers arrive at results of various illustrative scenarios generated from data input by the user/ customer. The use of the calculator is entirely at the risk of the user/ customer, BFL is not responsible for any reason, for any errors in any outcome resulting from the use of the calculator.

What is the maximum loan amount that I can avail?

You can get a two-wheeler loan up to Rs. 21 lakh from Bajaj Finance. However, your actual loan amount will depend upon your eligibility.

Can I get 100% funding for buying a two-wheeler?

Bajaj Finance Limited offers up to 100% finance on your vehicle's on-road price.

It is applicable for both existing as well as new customers based on their eligibility.

What is the minimum and maximum tenure of a two-wheeler loan?

You can get a two-wheeler loan with a flexible repayment tenure ranging from 12 months to 72 months.

Do I need a guarantor while applying for a two-wheeler loan?

No, you do not need a guarantor to apply for a two-wheeler loan from Bajaj Finance. However, in case you do not meet the eligibility criteria, then you can apply for the loan with a co-applicant.

How to check if I am eligible for a two-wheeler loan?

Salaried, self-employed, pensioner, student, farmer, or homemaker can apply for a two-wheeler loan. Here are some of the key eligibility criteria

• You should be a resident of India
• Your age should be between 18 years to 65 years*
• You should have your KYC documents including Aadhaar card, passport, driving licence, PAN card, and voter’s ID

*T&C apply

Can a self-employed professional or a business owner get a two-wheeler loan?

Self-employed individuals or a business owner can be eligible for our two-wheeler loan. However, you should have been in the business for at least 2 years. You will also need to meet our other key criteria.

What is the down payment amount that I need to pay?

Down payment will be based on the approved loan amount and the price of your chosen vehicle.

How is EMI calculated for a two-wheeler loan?

The EMI for a two-wheeler loan is calculated based on the loan amount, interest rate, and tenure. The two-wheeler loan EMI calculator uses a mathematical formula, considering the loan amount, interest rate, and tenure to calculate the EMI and the total payable interest.

What is the EMI for a Rs. 1 lakh bike loan?

The EMI for a Rs. 1 lakh bike loan depends on the interest rate and tenure of the loan. For example, if you take a two-wheeler loan of Rs. 1 lakh with an interest rate of 9.5% for a tenure of 3 years, the EMI would be around Rs. 3,238 per month. However, the EMI may vary depending on the lender’s policy and loan terms.

What is the two-wheeler loan interest rate?

At Bajaj Finance, the two-wheeler loan interest rate can be up to 35% per annum. You can use the two-wheeler loan EMI calculator (scooter/bike EMI loan calculator) to estimate the monthly instalments on your two-wheeler loan easily.