# Two-Wheeler Loan Interest Rate Calculator, Calculate EMI

The online tool is designed to calculate the EMI (Every month Installment), which is payable towards repaying the loan amount. The calculations are done by filling the details for knowing the particular information you are searching for. The EMI amount will be visible to you once you give all the details asking in the two-wheeler loan interest rate calculator.

## Bike Loan EMI Interest Rate Calculator

Along the EMI amount you can also get the other details as you can plan your EMI depending on your monthly budget and pay the EMI every month.

Here some steps are provided to follow which tells us how to use the EMI Calculator.

Calculation of EMI can be done in two ways as

• Using bike EMI Calculator Automatic Calculation
• Manual calculation by using the formula

Using bike EMI Calculator Automatic Calculation-

This is considered to be the easiest, accurate, and speedy way to know the EMI amount details. You have to provide the basic details asking for calculating. The details you have to provide are Rate of Interest, loan tenure, and Principal amount. Once you provide these details your calculator will automatically provide you the EMI amount which you have to pay every month.

Manual calculation by using the formula

Under this manual calculation, you have to use a formula which is P*R*((1+R)N/(1+R) N-1). This is a formula you have to use to know the EMI of the bike loan. Here P is for the Principal amount of the loan, R is for the applicable interest rate, and N stands for Tenure of the loan in months.

### List of the top banks providing Two-wheeler loans, with the EMI for the amount of Rs.25,000/-.

 Bank Name EMI in rupees Lowest interest rate per anum Tenure Central Bank of India 515/- 8.70% 5 years Punjab and Sind Bank 536/- 10.40% 5 years Syndicate Bank 538/- 10.55% 5 years Saurashtra Gramin Bank 595/- 15% 5 years Corporation Bank 559/- 12.25% 5 years City Union Bank 558/- 14.50% 5 years Nainital Bank 1,143/- 9.05% 2 years Lakshmi Vilas Bank 559/- 12.25% 5 years Bank of India 518/- 8.90% 5 years Oriental Bank of Commerce 809/- 10.20% 3 years Allahabad Bank 552/- 11.70% 5 years UCO Bank 554/- 11.85% 5 years Andhra Bank 535/- 10.35% 5 years PNB Punjab National Bank 829/- 11.90% 3 years HDFC bank 514/- 8.61% 5 years PNB Punjab 551/- 11.60% 5 years

Factors for utilizing EMI calculator for Two-Wheeler Loan

• The applicants who are going to take a loan can decide their loan amount along with the tenure period. This can be done by knowing the EMI amount using these EMI calculators.
• Even fundamental elements of the two-wheelers can be learned by the individuals. By calculations, you can also know how much you are going to spend to buy your bikes.
• With the help of this calculator, you can also know the key differences between the interest rates provided by the different lenders. You can also choose the lender depending on your loan expenses.

#### Two-Wheeler Loan Interest Rate Calculator Advantages-

There are many advantages to using this EMI calculator. Some of them are as follows.

• It helps in knowing the EMI value.
• Aids in term choosing.
• Break up of costs can be provided.

It helps in knowing the EMI value

The first and foremost advantage of using this EMI calculator tool is, you can know the amount you are going to as EMI every month for the loan repayment. This will give you accurate results and there is no need for any manual calculations.

Aids in term choosing

As you will be able to know the EMI amount with the help of this calculator, now you can able to choose the tenure of the loan easily. Once calculating the EMI if you feel that, it will be a burden for you to pay that much amount every month. Then you can able to increase the tenure of the loan to reduce the EMI amount.