Two Wheeler Loan EMI Calculator

Own a two-wheeler! Find out interest and EMI amount.

Quick calculation of your Two Wheeler Loan EMI
  • Amount:

    1L
    20L
    100000
  • Rate of Interest (%):

    6%
    22%
    6
  • Loan Terms (monthly):

    1
    35
    1

Monthly Payment

₹3,66,845
  • Note: This is an approximate value. The final value may differ.
Two-Wheeler Loan EMI Calculator

If you consider the convenience of going anywhere at any time, two-wheelers are the most practical vehicle that any person could own. Two-wheelers are the best riders amidst thick traffic and a careful driver could possess one by taking a bank loan for a two-wheeler.

Two-Wheeler Loan Amortization Schedule

A two-wheeler loan amortization schedule visually aids loan repayment in a tabular format. The details of the table include the loan amount, the balance after each payment, the interest rate, the amortization period, and the total payment. The payment comprises interest and principal. A two-wheeler loan EMI calculator also helps you get an idea of amortization.

How is Two-Wheeler Loan EMI Calculated?

Use a two-wheeler loan EMI calculator for calculating the equated monthly instalment (EMI) or use the EMI calculation formula for a two-wheeler loan .

EMI = principal amount + interest paid

Mathematically:

P x R x (1+R) ^N / [(1+R) ^N-1]

P = Principal amount of the loan

R = Rate of interest

N = Number of monthly instalments.

The EMI remains the same through the loan term monthly.

This is how it works. If the two-wheeler costs Rs 1 lakh, the loan interest rate is 13.35% p.a. and the loan term is for 60 months, you can use the bike EMI calculator or calculate manually.

EMI = 100000* 0.011125 * (1+ 0.011125) ^60 / ((1+ 0. 011125)^60)-1 = Rs 2293

The rate of interest rate (R) on your loan is calculated monthly i.e. (R= % Annual rate of interest/12). For instance, if R = 13.35% per annum, then R= 13.35%/12 = 0.011125

Must Read: How to Calculate EMI for Bike Loan: Tips and Tricks

Advantages of using the Bank of Baroda Two-Wheeler Loan EMI Calculator

Applying for the Bank of Baroda bike loan is the smart choice.

  • Borrowers can get attractive interest rates
  • The processing charges are minimal
  • Borrowers can seek high loan amounts of up to Rs. 10 lakhs.
  • Loan approval is speedily disbursed
  • A credit score is not a criterion for acquiring this loan, however, individuals can improve their credit score (Minimum CIBIL is Must)
  • The repayment tenure is flexible
  • No pre-closure charges
  • Documentation is hassle-free
  • Staff or ex-staff of the Bank of Baroda are not charged processing fees
How to use the Bank of Baroda Two-Wheeler Loan EMI Calculator Online?

The BOB two-wheeler loan EMI calculator is the fastest way to calculate your EMI. Visit us online to quickly calculate your EMI accurately. Find the three scrolls. Decide on which two-wheeler you wish to get, once you are privy to the principal, adjust the three bars Amount, Rate of Interest, and the Loan Term on the Bank of Baroda bike loan calculator to work out the best repayment option that suits you. Paying a high down payment will keep your EMI light and complete repayment within a short tenure.

Frequently Asked Questions (FAQs)

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