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Two-Wheeler Loan EMI Calculator
EMI
Flat Rate
Reducing Balance
Balloon Payment
Loan Amount
Loan Tenure
Year
Month
Rate of Interest
%
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Share
EMI
2458
Interest
47500
Principal
100000
Total
147500
47 K
5
Year
100,000
38 K
Year
Original
Reduced
𝒊
2458
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
47500
Reduced
4 year
38000
Saved
1 year
9500
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
41 K
30 K
20 K
10 K
0
-
-
-
-
-
2024
2026
2028
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Two-Wheeler Loan
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Two-Wheeler Loan EMI
A Two-Wheeler Loan EMI Calculator is an easy-to-use tool that helps you estimate your monthly EMI (Equated Monthly Installment) based on the loan amount, interest rate, and tenure. This tool enables you to see how different factors, like adjusting the loan amount or tenure, affect your EMI. It helps in budgeting and planning by giving you a clear view of your repayment obligations and allows you to compare various loan options for purchasing a two-wheeler.
Calculate Two-Wheeler Loan EMI
To calculate two-wheeler loan EMI enter loan details including loan amount, interest rate, tenure and choose months or years.
Click Calculate to view your initial loan breakdown.
Customize payment options with three inputs.
Select a number of extra EMIs per year.
Increase EMIs by a percentage.
Select lump sum payment in a specific year.
Adjust inputs as needed and click Recalculate to update your tenure and interest dynamically.
Eligibility Criteria for Two-Wheeler Loan EMI
Age Requirement:
Applicants must be at least 21 years old and not older than 60 at the end of the loan tenure, as this age requirement can influence the two-wheeler loan EMI.
Income Criteria:
A stable source of income is required. Lenders typically have minimum income requirements that vary based on the applicant's employment status, which affects the calculation of the two-wheeler loan EMI.
Employment Status:
Salaried individuals should have a minimum period of work experience with some time spent in the current job; self-employed individuals should have a stable business with a track record, as these factors are crucial in determining the two-wheeler loan EMI.
Credit Score:
A good credit score is preferred to ensure loan approval and may help in securing better interest rates, positively impacting the two-wheeler loan EMI.
Two-Wheeler Loan EMI Calculator FAQ
How can I use a Two-Wheeler EMI Calculator effectively?
To use a two-wheeler EMI calculator effectively, input the loan amount, interest rate, and loan tenure. The calculator will show you your estimated monthly EMI, allowing you to adjust the parameters to find an EMI amount that fits your budget and financial goals.
What factors can affect my Two-Wheeler Loan EMI?
The EMI amount for a two-wheeler loan is influenced by factors such as the loan amount, interest rate, and loan tenure. A higher loan amount or interest rate will increase your EMI, while a longer tenure will reduce the EMI but may increase the total interest paid. Use a two-wheeler EMI calculator to understand how these factors affect your monthly payments.
Can I prepay my Two-Wheeler Loan?
Yes, most lenders allow prepayment of a two-wheeler loan. Making prepayments can help reduce the principal amount and, subsequently, the total interest paid over the loan term. Be sure to check with your lender for any prepayment penalties or conditions that may apply.
×
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
47500
1 Extra EMI/ year
5 year
▶ 0 year
43542
▶ 3958
2 Extra EMI/ year
5 year
▶ 0 year
38792
▶ 8708
3 Extra EMI/ year
4 year
▶ 1 year
37208
▶ 10292
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
47500
Increase EMI by 1%
5 year
▶ 0 year
46708
▶ 792
Increase EMI by 3%
5 year
▶ 0 year
44333
▶ 3167
Increase EMI by 5%
5 year
▶ 0 year
41958
▶ 5542
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
47500
Pay 10% in 2nd year
5 year
▶ 0 year
42750
▶ 4750
Pay 20% in 3rd year
4 year
▶ 1 year
38000
▶ 9500
Pay 30% in 4th year
4 year
▶ 1 year
38000
▶ 9500
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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