TWO WHEELER LOAN EMI CALCULATOR

The Bike Loan EMI Calculator is a tool that helps in calculating the Equated Monthly  Instalment (EMI) for a Loan. Simply enter the Total Loan Amount, interest rate and tenure. The Calculator will automatically give you the result. The final output is shown through the ‘Total Amount Payable’ and ‘Your Monthly EMI’ fields.

Follow the steps given below, to calculate your Two-Wheeler Loan EMI:

Step 1: Enter the Loan Principal

Start by entering the principal amount of the Loan using the slider or by directly entering the desired value. The principal amount includes the borrowed amount along with any applicable interest.

Step 2: Adjust the Interest Rate

Next, fine-tune the interest rate using the slider or enter the interest rate manually. Ensure that the interest charged on the Loan amount is accurately reflected.

Step 3: Specify the Loan Tenure

Determine the Loan tenure using the slider or by entering the desired period. It indicates the duration of the borrowed amount. The accrued interest will be repaid through EMIs.

Once these steps are completed, the Calculator will give you an accurate EMI value.

Knowing your Bike EMI amount in advance helps with your financial planning. Based on the monthly instalment figure, you can apply for a loan amount that suits your repayment capacity and adjust the repayment tenure. It also helps you to make a budget for other expenses and how you will accommodate it in your finances without any stress.

The loan rate formula is [P*R*[(1+R)^N/((1+R)^N-1]. Here R is the loan rate or interest rate. P indicates the loan amount and N indicates the loan tenure in months.

Calculating Bike EMIs before availing the loan is critical for effective financial planning. It provides a clear understanding of the monthly outflow towards the loan, ensuring that it fits within your budget. This foresight helps in avoiding financial strain and aids in making an informed decision regarding the loan amount and tenure.

Yes, adjusting the loan tenure is a feasible way to alter the EMI amount. Increasing the tenure spreads the loan over a longer period, thereby reducing the monthly EMI. Conversely, a shorter tenure increases the EMI. This flexibility allows borrowers to tailor their repayment schedule according to their financial situation and repayment capacity.

The data generated herein is completely and solely based on the information/details provided by you in response to the questions specified by ICICI Bank Limited (ICICI Bank). These questions and the calculations thereon resulting in specific data are developed and based on certain tools and calculators that are made available to ICICI Bank and are based on pre-determined presumptions/assumptions. ICICI Bank, while providing and developing these tools, has relied upon and assumed, without independent verification, the accuracy and completeness of all information made available to it from public/private sources and vendors or which has otherwise been reviewed by ICICI Bank.

Such information and the resultant data are provided only for the users’ convenience and information purposes. ICICI Bank does not guarantee the accuracy, completeness or correct sequence of any of the details provided therein and therefore no reliance should be placed by the user for any purpose whatsoever on the information contained / data generated herein or on its completeness/accuracy. The use of any information set out is entirely at the User's own risk. Users should exercise due care and caution (including if necessary, obtaining guidance from tax/ legal/ accounting/ financial/ other professionals) before taking any decision, acting or omitting to act, based on the information contained / data generated herein. ICICI Bank does not undertake any liability or responsibility to update any data. No claim (whether in contract, tort (including negligence) or otherwise) will arise out of or in connection with the services against ICICI Bank. Neither ICICI Bank nor any of its agents or licensors or group companies will be liable to the user/any third party, for any direct, indirect, incidental, special or consequential loss or damages (including, without limitation loss of profit, business opportunity or loss of goodwill) whatsoever, whether in contract, tort, misrepresentation or otherwise arising from the use of these tools/ information contained / data generated herein.

Nothing contained herein will amount to an offer, invitation, advertisement, promotion or sponsor of any product or services of ICICI Bank/third party and is not intended to create any rights or obligations. The use of this information is subject to the terms and conditions governing such products, services and offers as referred herein above and specified by ICICI Bank/third party from time to time and applicable laws. The information contained/data generated herein may be subject to change, updation, revision, verification and amendment without notice and such information/data generated may change materially. Users cannot distribute, modify, transmit, reuse, report, or use the contents available for public or commercial purposes, including the text without ICICI Bank's written permission. The information and/ or intellectual property contained herein is strictly confidential, meant solely for the selected recipient, and may not be altered in any way, nor transmitted copied or distributed in part or in whole to any other person or to the media, or reproduced in any form without prior written consent of ICICI Bank or the relevant owner of the intellectual property as the case may be. "ICICI Bank" and "I-man" logos are the trademarks and property of ICICI Bank Limited.