If you are planning to buy a bike of your dreams but are short of funds then the bike loan is a good option to get the bike of your choice financed through Bajaj Auto Finance. All you have to do is arrange a small down payment and rest of the loan amount can be paid in Equated Monthly Installments popularly known as EMIs. You can choose your EMI plan as per your requirement by carefully planning the monthly budget so that it doesn’t put a strain on your finances.
Once you decide to take a two wheeler loan, it is important that you calculate the EMI which has to be paid every month by making use of bike loan calculator which is available on our website. Our calculator helps you in determining the exact amount you have to pay for a particular duration. It will give you a clear picture of monthly expenditure you need to make to pay off the bike loan. It is a convenient way of managing your finances effectively without burning a hole in your pocket.
Calculating the EMI before availing bike loan is important as it gives you an idea about your repaying capacity.
EMI = [P x R x (1+R)^N]/[(1+R)^N-1],
P stands for the loan amount or principal, R is the interest rate per month and N is the number of monthly installments.
Input necessary information such as the capital amount, rate of interest, and the tenor in months. The calculator then displays the EMI based on these parameters.
Additional Read: Long Ride Bikes
If you wish to get the best deal on a bike loan then just visit our application page and apply for two wheeler loan online. We offer the best deals and the lowest interest rates. But, remember, to judge your repayment capacity before filling out the principal amount and tenor.
Click here to check - Two Wheeler Loan Eligibility