What is a Two-Wheeler Loan?
A Two-Wheeler Loan (or Bike Loan) helps you finance the purchase of a motorcycle or scooter. Because two-wheelers are depreciating assets, these loans typically have shorter tenures (1 to 5 years) and slightly higher interest rates compared to home loans.
How the Calculator Works
Enter your vehicle’s on-road price, the down payment you plan to make, the lender’s interest rate, and your desired loan tenure. The calculator will instantly determine your monthly EMI and the total interest you will pay over the life of the loan.
Most banks finance only 80% to 90% of the vehicle’s on-road price. You will need to pay the remaining amount as a down payment. Additionally, remember to factor in the bank’s processing fee (usually 1% to 2% of the loan amount), which is deducted upfront.