Bike Loan EMI Calculator
Find the monthly instalment and interest on a two-wheeler loan.
About the Bike Loan EMI Calculator
Enter the loan amount, the reducing-balance interest rate and the term. The calculator gives the monthly instalment, the total interest and the total repaid.
Two-wheeler loans usually run 1–4 years at higher rates than car loans. Some lenders quote flat rates, which look lower than they are; compare the reducing-balance rate or APR.
The formula
Payment = P × i ÷ (1 − (1 + i)⁻ⁿ)
- P
- amount borrowed
- i
- monthly rate: yearly rate ÷ 12
- n
- number of monthly payments
Worked example
₹1,00,000 at 11% for 3 years
- 36 instalments of ₹3,273.87
- Total interest: ₹17,859
- Total repaid: ₹1,17,859
Things to keep in mind
- Uses a reducing-balance rate; a flat-rate quote must be converted first.
Questions people ask
Flat or reducing rate?
This uses a reducing-balance rate; use the flat vs reducing calculator to convert a flat quote.
Are there processing fees?
Usually 1–3%; add them to compare offers.