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  • Two Wheeler Loan EMI Calculator

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    Overview:

    India is home to the highest number of two-wheelers in the world. Owing to the economical and logistical conditions, Indians prefer owning a two-wheeler as means of conveyance. For most of us, a bike or a scooter is also the primary vehicle to travel. Over the last decade or so, biking has become a serious business in the country. With the entry of so many international brands in India, the average Indian is spoilt with choices when we talk about owning a motorcycle or a scooter. On the flipside, owning one has become an expensive affair and it makes sense to take a loan to own one. Nearly all major banks in the country offer loans for two-wheelers as a part of their retail lending portfolio.

    Before choosing a specific lender, it's paramount to understand the product and its financials to make sure we select the most appropriate terms. With the advent of online banking, making financial decisions has not only become easier, but also banking as a process has become extremely transparent and simple. For the enhanced convenience of customers, leading insurance providers, banks and third party financial websites offer a dynamic tool on their portal called the loan EMI calculator. The tool available on this website offers the most comprehensive assistance with regard to the monetary aspects involved in two-wheeler loan.

    Also Read: Two Wheeler Insurance.

    What is an EMI Calculator?

    A two-wheeler loan EMI calculator is an online tool designed to calculate the EMI amount payable towards clearing the loan. You need to simply fill the financial details to get the required information. Once you enter all these details correctly, you can see the auto-computed EMI amount.

    In addition to the EMI amount, you get a bunch of additional information to aid your quest to choose the most suitable terms. Once you know the amount of EMI you have to pay every month, you can plan your monthly budget accordingly.

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    Advantages of Using EMI Calculator while Applying foe for Bike Loan:

    The benefits of using an EMI calculator are plenty. Let's explore some of the most prominent ones.

    Helps in knowing the EMI value:

    The primary use of this tool is to know the precise amount you will be paying every month. Getting the numbers beforehand helps in sorting your monthly budget. It eliminates the need for manual calculations and ensures accurate results.

    Aids in choosing the term:

    Once you have a definite EMI amount, it becomes a lot easier to choose the tenure of the loan. If you feel the value is a burden on your wallet, a higher tenure will do the trick by proportionately bringing down the value.

    Helps in comparison:

    If you’ve been offered loan from two or more banks for the motorcycle purchase, using this tool to compare the costs involved will do the trick by helping you choose the most suitable loan offer. Get the quote, use the calculator and jot down the outcome to compare on specific parameters.

    Helps in negotiating:

    Once you’re armed with the basics of the financials involved, it helps in negotiating key terms of the two-wheeler loan with the bank. Components such as rate of interest, processing fee and others can be easily negotiated after establishing the ground.

    Provides a break up of costs:

    This free-to-use tool not only provides the EMI value, but also offers useful information such as breakup of the charges involved in the loan such as interest and processing fee.

    Two Wheeler Loan EMI Amortization Table:

    The most visible use of this tool is the amortization table which provides month wise breakup of principal and interest charges that go into calculating the EMI amount.

    How to use Bike Loan EMI Calculator?

    An easy-to-use calculator, this tool lets you get the desired results in just under a minute. Before using this tool, gather information such as the proposed loan amount, loan tenure, interest and processing fee (both in percentage). Once you have these details handy, follow the steps below to get the required results.

    • On scale 1 titled Loan Amount, use the slider to freeze the principal loan amount. Move the scale slowly to ensure you select the correct amount. The result is displayed at the end of the scale.
    • In a similar manner, use scale 2 titled Tenure and freeze the tenure of the loan in months.
    • In the following tabs, input the interest rate and processing fee using the numeric keypad and click “Calculate”.

    Elaborate details relating to the loan breakup which include the EMI value is instantly displayed for review. The tool can be reused to compare two-wheelers loan offers from various banks.

    Getting a two-wheeler can be an exciting experience. Understanding the product and the monetary components helps you in signing up for the right two-wheeler loan and enjoy the goodness of your new motorcycle.

    News about Two Wheeler Loan EMI Calculator

    • Bajaj launched the new Bajaj V12

      Bajaj has recently launched its latest version in the commuter series of bikes called the Bajaj V12. The Bajaj V12 is a 125CC version of the immensely popular Bajaj V15, which carries a 150CC engine. The Bajaj V12 is priced at Rs,56,200 (ex-showroom Delhi) and is available in two colours, Wine Red and Ebony Black. The booking price for the bike is Rs.1,000 and has no waiting period for delivery, currently. Most showrooms in Mumbai and Pune have received the bike and it will be available in showrooms across the country shortly. The new Bajaj V12 has a lot in common with the larger variant the Bajaj V15, but there have been a few changes made. The new Bajaj V12 comes with drum brakes in the front instead of the 240mm disc on the V15. The biggest change the Bajaj V12 has seen from its predecessor is its new engine, the motorcycle comes with a 125CC, single-cylinder, long-stroke, oil-cooled engine, which delivers 10.7BHP and a maximum torque of 11Nm through a five-speed gearbox to the rear wheel.

      5th January 2017

    • Hero Motocorp Launches First Locally Developed Motorcycle

      Pawan Munjal, chairman, MD and CEO, of Hero MotoCorp launched its new motorcycle Achiever 150 motorcycle replacing the outgoing Achiever, which was first developed under Hero Honda partnership in 2006. This particular global launch has been aimed for being a head-turner based on Munjal’s stating  that it is supposed to be a crucial event planned for a brand new product for global distributors as well as a few domestic retailers. The new bike will come fully loaded with a new engine, newly designed chassis and a brand new body. Two wheeler loans will be made available for purchasing these motorcycles.

      10th October 2016

    • Paytm to Collaborate With Suzuki Motorcycles

      Suzuki Motorcycles India has announced that is has struck a strategic alliance deal with India’s biggest mobile payment and e-commerce portal, Paytm. With this collaboration, Paytm users will now be able to access Suzuki’s complete range of motorcycles and scooters, with the added convenience of making online bookings and financing without leaving their homes. At present, Suzuki has brought more than 400 dealerships onboard for the alliance, which will help the company target some of the most remote and inaccessible sectors of India. Users can log on to the Paytm website and browse through the virtual Suzuki showroom, which will display prices as well as specifications. Once the customer chooses the vehicle he or she wishes to book, the user will be directed to the nearest Suzuki dealership in the area where the delivery and registration of the two-wheeler can be finalised. Buyers can also avail of various financing options through the online portal. Paytm has set a target of 10,000 units to be reached through their online portal by the end of the year.

      20th July 2016

    • Honda launches its new gearless scooter Navi, in Goa

      The new gearless funky scooter by Honda was launched recently in Goa. Navi, which looks like a mini bike but is actually like a gearless scooter is Honda’s funky take on scooters that are a hot favorite especially among women in the country. The target customer for this automobile is the young generation especially the college-going crowd.

      The ex-showroom price of the vehicle is around Rs.41000 in Goa and is available through all Honda dealers across the country. Navi has been developed totally from concept to reality by the Hinda India team and is the first vehicle by Honda India that has been manufactured this way. The scooter comes in a plastic body in 5 different color variants to be chosen from.

      27th June 2016

    • Two-Wheeler Prices to Rise Following Motor Vehicle Tax Structure Revision

      With the revision in basic motor vehicle tax structure, two-wheeler prices are set to increase with the revision coming into effect on June 7th. The premium two-wheeler segment is likely to be hit hardest by the revision, as customers looking to purchase a new vehicle under this segment will be required to pay much more than before. The basic motor vehicle tax has been increased from 3 per cent to 20 per cent, with tax slabs for imported bikes doubling. The tax structure for imported two-wheelers will now fall in the range of 16 per cent to 20 per cent, which is a sharp increase from the previous rate of 7 per cent. While this rate of 7 per cent applied to both domestic and imported bikes prior to the tax structure revision, the applicable tax for domestic bikes will now stand at 10 per cent, while the tax for imported bikes could rise up to 20 per cent. Deputy Regional Transport Officer, Subhash Pedamkar stated that since most bikes today are of high value, buyers will certainly feel the pinch from now on.

      16th June 2016

    Two Wheeler Loan by Other Banks
    Two Wheeler Loan

    Customer Reviews

  • Page 1 of 50 1 2 3 4 5
    • HDFC Bank Two Wheeler Loan
      "Good"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I got the two wheeler loan with the HDFC bank and the interest rate is okay for me. I got the loan to be get sanctioned within two days of time, also the documents are very simple one with them. Response and other aspects are good one with them.
      Was this review helpful? 0
      , chennai
      Reviewed on May 27, 2017
    • Vijaya Bank Two Wheeler Loan
      "Excellent service"
      VIJAYA BANK
      0.5 5.0/5 "Blown Away!"
      I had two wheeler from Vijaya bank they process my bike loan within a week. I had taken the amount of Rs.50,000 to purchase fashion bike then they sanctioned my loan and I preclosured my bike loan without paying any extra charges. I liked the response which they gave for my bike loan.
      Was this review helpful? 1
      , coimbatore
      Reviewed on May 25, 2017
    • Shriram City Two Wheeler Loan
      "Good Service"
      SHRIRAM CITY UNION FINANCE
      0.5 4.0/5 "Great!"
      In the year of 2014, I had taken two wheeler loan from Shriram Finance. Also I cleared the loan and received NOC from them as well. I do not remember the rate of interest for two wheeler loan. As per my experience Shriram finance is recommendable for the loan.
      Was this review helpful? 0
      , haldwani
      Reviewed on May 24, 2017
    • IOB Two Wheeler Loan
      "Good Response"
      INDIAN OVERSEAS BANK
      0.5 5.0/5 "Blown Away!"
      Interest rate for two wheeler loan is of 10.2%. It was quite easy to take the loan from Indian Overseas Bank. The entire process went good with no issues. The bank delivered good customer service as well and I got proper response for my loan application.
      Was this review helpful? 0
      , thrissur
      Reviewed on May 24, 2017
    • ICICI Two Wheeler Loan
      "Good Service"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      Long back I had taken two wheeler loan from ICICI bank. The loan process went smooth and it was very easy to approach the bank for the loan. They had done with the loan process within a day. It was hassles free service with ICICI bank.
      Was this review helpful? 0
      , salem
      Reviewed on May 24, 2017
    • L&T Finance Two Wheeler Loan
      "Fair"
      L&T FINANCE LIMITED
      0.5 3.0/5 "Satisfactory"
      Currently, I am having the two wheeler loan with the L&T finance limited and the loan amount got credited within an hour of time. They have provided around 80% of cost of the vehicle as loan and the processing charges were nil with them. They did not provide the ECS option for me till now.
      Was this review helpful? 0
      , siliguri
      Reviewed on May 23, 2017
    • review Two Wheeler Loan
      "Good Service"
      BAJAJ FINSERV
      0.5 4.0/5 "Great!"
      I had taken the bike loan from bajaj finance i just waked into bajaj they explained me everything which includes the bike value is rupees one laks the total loan amount including emi is 1.20 thousand next month the loan is getting completed EMI is 3200 and this is for a tenure of 2.5 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 22, 2017
    • review Two Wheeler Loan
      "Happy banking"
      KARNATAKA BANK
      0.5 5.0/5 "Blown Away!"
      Actually I had taken two wheeler loan every year with Karnataka bank. Till date, I had take four two wheeler loan with the same bank for my family members. I feel more comfortable with Karnataka bank. Actually I had given the proposal to the bank at 3:30 PM and I got loan DD in the evening, so such a fast service they had delivered my loan application. I used to pay double the EMI to close the loan earlier. I am more than happy with Karnataka bank and its services.
      Was this review helpful? 0
      , chennai
      Reviewed on May 22, 2017
    • HDFC Bank Two Wheeler Loan
      "Helpful Service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      Long back ago I had taken a two wheeler loan from HDFC bank. At that time, the interest rate was very normal and affordable. Also the process went smooth without any hassles. Moreover it was very easy to avail the loan from HDFC bank as they are supportive.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 20, 2017
    • review Two Wheeler Loan
      "Good service"
      UNION BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      It was very good service with Union bank of India. I got a good 2 wheeler loan experience with Union bank during the year 2005. The rate of interest and processing fee is nominal with Union bank. This Two-wheeler loan has the tenure of 3 years. Overall it was a very good service provided by them.
      Was this review helpful? 0
      , asansol
      Reviewed on May 19, 2017
    • review Two Wheeler Loan
      "Wonderful "
      INDUSIND BANK LTD
      0.5 4.0/5 "Great!"
      I have closed the two wheeler loan with the Indusind bank and the interest rate was lesser one with them on that time. I got the NOC paper within one to two months of time and there are no issues with them. I got the loan amount within two weeks of time.
      Was this review helpful? 1
      , chennai
      Reviewed on May 17, 2017
    • HDFC Bank Two Wheeler Loan
      "Good Bank"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      In the year of 2013, I had taken two wheeler loan from HDFC bank. At that time, the interest rate is normal and I do not remember the exact rate of interest. Also they processed the loan in a very good manner. They have standard customer service. Their overall service is good.
      Was this review helpful? 1
      , pune
      Reviewed on May 17, 2017
    • review Two Wheeler Loan
      "The Best Service"
      BAJAJ FINSERV
      0.5 5.0/5 "Blown Away!"
      I took two wheeler loan from Bajaj in the year of 2009. The process went smooth. Actually it is very easy to avail any kind of loan from Bajaj but the only thing we have to be conscious on the rate of interest. Sometimes it will be on higher end with them.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 17, 2017
    • review Two Wheeler Loan
      "Hassle Free Experience"
      BAJAJ AUTO FINANCE
      0.5 4.0/5 "Great!"
      Bajaj auto finance is really great, they had processed the bike loan within a day on other next day I got my bike delivery. I requested Bajaj customer service to process my two wheeler immediately due to some emergency purpose, hence they considered and the process was compelted very fast.
      Was this review helpful? 1
      , bangalore
      Reviewed on May 16, 2017
    • HDFC Bank Two Wheeler Loan
      "The Best Bank"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I had taken two wheeler loan from HDFC bank. The rate of interest was very normal for my two wheeler loan, which was 11.25%. It was easy to avail the loan from HDFC bank, even the documentation process was very simple. There was no hassles with the bank for loan services.
      Was this review helpful? 1
      , mumbai
      Reviewed on May 16, 2017
    • review Two Wheeler Loan
      "Good. Can be lesser in rates"
      BAJAJ FINSERV
      0.5 3.5/5 "Pretty good"
      I have taken a two wheeler loan from Bajaj Finserv. It is a flexible process to get this loan as I am a existing customer. But the institution is pretty high on the interest when I compare them with other banks. There are high charges taken a well.
      Was this review helpful? 2
      , hyderabad
      Reviewed on May 15, 2017
    • HDFC Bank Two Wheeler Loan
      "Very prompt in charges"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      HDFC bank is very prompt in charges. I took two wheeler loan from them. Their rate of interest is normal. They will charge what they committed in the beginning while taking the loan. Even they showed me about EMI calculations. They do not make the customer suffer in any way.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 13, 2017
    • ICICI Two Wheeler Loan
      "Recommendable Loan Products"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      There was nothing delayed on my two wheeler loan with ICICI, everything was on time. I approached the loan showroom, so the process was quick I got my bike delivery on time. I had taken the loan amount around Rs.60,000 from ICICI, they all have done a very good job.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 12, 2017
    • ICICI Two Wheeler Loan
      "ICICI TWO Wheelerloan"
      ICICI BANK
      0.5 4.5/5 "Excellent!"
      Best rate of interast and fast process. It was totally a hassle free experience with ICICI Bank on my bike loan, I had taken this loan in Dec 2016 at the loan amount I have opted for 30k approximately and they charges me minimal.I have preclosed loan as i got the money.
      Was this review helpful? 1
      , bangalore
      Reviewed on May 10, 2017
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I got the 2 wheeler loan within 3 days of time with HDFC bank. The rate of interest is nominal with Hdfc 2 wheeler loan. The documentation process was done smooth and easy, but I have faced hassle while doing my endorsement clearance of the vehicles, still they can make it easy, because they do charge for the documentation process.
      Was this review helpful? 2
      , pondicherry
      Reviewed on May 10, 2017
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