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Two-Wheeler Loan EMI Calculator by Balloon Payment
EMI
Balloon Payment
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Reducing Balance
Loan Amount
Loan Tenure
Year
Month
Rate of Interest
%
Balloon Payment
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EMI
1969
Interest
28160
Principal
100000
Total
128160
28 K
5
Year
100,000
23 K
Year
Original
Reduced
𝒊
1969
will be
EMI
for
100000
(100 K)
Loan Amount
for
5
Year
Loan Tenure
at
9.50%
Rate of Interest
.
How to Reduce Interest/ Tenure?
Pay
0
1
2
3
4
5
Extra EMI every year.
𝒊
Increase EMI by
0
2
3
5
7
10
15
20
% every year.
𝒊
Pay Lump-Sum
0
(1 K)
(2 K)
(3 K)
(4 K)
(5 K)
(6 K)
(7 K)
(8 K)
(9 K)
(10 K)
in
0
1
2
3
4
year.
𝒊
Recalculate
Share
Loan
Tenure
Interest
Original
5 year
28160
Reduced
4 year
23460
Saved
1 year
4700
Loan Payment Schedule
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
Original
Reduced
Balloon Payment
40 K
30 K
20 K
10 K
0
-
-
-
-
-
2024
2026
2028
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Two-wheeler Loan EMI by Balloon Payment
A Two-Wheeler Loan EMI by Balloon Payment involves making smaller, regular payments throughout the loan term, with a large lump sum, or balloon payment, due at the end. This structure allows for lower monthly payments during the term, but requires careful planning for the substantial final payment needed to fully repay the loan. This loan structure is ideal for borrowers who anticipate a lump sum inflow of funds at the end of the term. Calculate your two-wheeler loan EMI with our Two-Wheeler Loan EMI Calculator by Balloon Payment. Get detailed breakdowns of monthly payments, interest, and principal to help you plan your loan repayments and ride home your new bike or scooter.
Calculate Two-wheeler Loan EMI by Balloon Payment
Enter loan details like loan amount, interest rate, tenure, and balloon payment amount to calculate two-wheeler loan EMI by balloon payment.
Click Calculate to view your initial breakdown and calculate two-wheeler loan EMI by balloon payment based on your inputs.
Customize payment options with three inputs to help you calculate your two-wheeler loan EMI by balloon payment effectively.
Select extra EMIs per year to reduce your two-wheeler loan EMI tenure.
Increase EMIs by a percentage to manage your two-wheeler loan EMI more efficiently.
Select a lump sum payment in a specific year to lower your two-wheeler loan EMI interest.
Adjust inputs as needed and click Recalculate to dynamically update your tenure and interest for your two-wheeler loan EMI.
Balloon Payment EMI formula
To calculate Two-Wheeler Loan EMI, use the Balloon Payment EMI formula for precise results. This calculation helps you understand your repayment obligations clearly.
E
M
I
=
(
P
-
B
(
1
+
r
)
n
)
×
r
1
-
(
1
+
r
)
-
n
EMI
= Equated Monthly Installments
P
= loan amount.
B
= balloon payment at the end of the tenure.
r
= monthly interest rate.
n
= total number of monthly installments.
Eligibility Criteria for Two-wheeler Loan EMI by Balloon Payment
Age Requirement:
Applicants must be at least 21 years old and not older than 60 at the end of the two wheeler loan EMI tenure.
Income Criteria:
A stable source of income, with minimum salary requirements typically around INR 10,000 per month for salaried individuals and INR 50,000 annually for self-employed individuals seeking a two-wheeler loan EMI by balloon payment.
Employment Status:
Salaried individuals should have at least one year of work experience with six months in the current job; self-employed individuals should have a stable business for a minimum of one year to qualify for two wheeler loan EMI.
Credit Score:
A good credit score, usually above 650, is preferred to ensure loan approval and better interest rates for a two wheeler loan EMI.
Two-Wheeler Loan EMI Calculator by Balloon Payment FAQ
How does a Balloon Payment EMI differ from a Regular EMI?
A balloon payment EMI involves making smaller, regular payments during the loan term, with a large lump sum payment due at the end. Regular EMI types involve equal payments of principal and interest throughout the loan term, with no large final payment required
How does a Two-Wheeler Loan EMI by Balloon Payment benefit borrowers?
Two-wheeler loan EMI by balloon payment features lower monthly payments by primarily covering interest costs during the loan period. This method is suitable for borrowers who expect improved financial conditions by the end of the loan term, such as increased income or plans to refinance.
What are the risks or drawbacks of a Two-Wheeler Loan EMI by Balloon Payment?
Two-wheeler loan EMI by balloon payment requires a substantial final payment, which can be a financial burden if borrowers cannot repay the full principal. Economic or market fluctuations might impact their ability to make this payment if financial circumstances change unexpectedly during the loan term.
×
How extra EMI(s) help?
At the end of the year, you can pay extra EMIs out of your savings. This extra EMI payment will go towards your Loan Amount and save you on the interest as well as tenure of the loan.
Payment
Tenure
Interest
Current
5 year
28160
1 Extra EMI/ year
5 year
▶ 0 year
25774
▶ 2386
2 Extra EMI/ year
5 year
▶ 0 year
23776
▶ 4384
3 Extra EMI/ year
4 year
▶ 1 year
22328
▶ 5832
How increasing EMI helps?
As your income increases each year, you can get your EMI increased from the bank. This allows you to allocate more funds towards paying off the loan amount and save you on the interest as well as tenure of the loan.
Payment
Tenure
Interest
Current
5 year
28160
Increase EMI by 1%
5 year
▶ 0 year
27722
▶ 438
Increase EMI by 3%
5 year
▶ 0 year
26909
▶ 1251
Increase EMI by 5%
5 year
▶ 0 year
26095
▶ 2065
How Paying Lumpsum Amount helps?
If you receive unexpected income, such as a bonus or tax refund, consider making a lump-sum payment on your loan. This can help reduce the outstanding loan amount and save you on the interest as well as tenure of the loan.
Payment
Tenure
Interest
Current
5 year
28160
Pay 10% in 2nd year
5 year
▶ 0 year
24708
▶ 3452
Pay 20% in 3rd year
4 year
▶ 1 year
24100
▶ 4060
Pay 30% in 4th year
4 year
▶ 1 year
26085
▶ 2075
How to Reduce Interest/ Tenure?
Making early payments towards Principal amount can reduce your Interest and/ or Tenure.
1. How extra EMI(s) help?
At the end of the year, you can pay extra EMIs out of your savings. This extra EMI payment will go towards your Loan Amount and save you on the interest as well as tenure of the loan.
2. How increasing EMI helps?
As your income increases each year, you can get your EMI increased from the bank. This allows you to allocate more funds towards paying off the loan amount and save you on the interest as well as tenure of the loan.
3. How Paying Lumpsum Amount helps?
If you receive unexpected income, such as a bonus or tax refund, consider making a lump-sum payment on your loan. This can help reduce the outstanding loan amount and save you on the interest as well as tenure of the loan.
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