Bike EMI Calculator
Plan your bike purchase with our interactive EMI calculator
₹
₹20,000 ₹10,00,000
₹
₹0 ₹5,00,000
₹1,20,000
Bike Price - Down Payment
%
5% 25%
years
1 year 7 years
Monthly EMI
₹3,900
Total Amount
₹1,40,411
Principal Amount
₹1,20,000 Total Interest
₹20,411 Loan Details
Bike Price: ₹1,50,000
Down Payment: ₹30,000
Loan Amount: ₹1,20,000
Tenure Info
Total Months: 36
Interest Rate: 10.5% p.a.
Processing Fee: ~1-2%
Pro Tip
Increase your down payment to reduce EMI and save on interest. A 30-40% down payment is ideal.
How EMI is Calculated
Your EMI is calculated using the reducing balance method, where interest is charged only on the outstanding principal amount. The formula used is:
EMI = [P × R × (1 + R)^N] / [(1 + R)^N - 1]
P
Principal Loan Amount
R
Monthly Interest Rate
N
Loan Tenure (months)
Tips to Reduce Your EMI
Higher Down Payment
Pay 30-40% upfront to reduce loan amount significantly
Shorter Tenure
Choose 2-3 years instead of 5 years to save on interest
Good Credit Score
Maintain 750+ CIBIL score for better interest rates
Compare Banks
Shop around for lowest interest rates from different lenders