What is the interest rate for bike EMI?

Two Wheeler Loan Interest Rate in India

Bank	Two Wheeler Loan Interest Rates*	Lowest EMI per ₹ 10 Thousand for Max Tenure
Axis Bank	10.80%	₹ 216 for 5 years
SBI	16.25%	₹ 353 for 3 years
HDFC Bank	14.50%	₹ 276 for 4 years
PNB	9.55%	₹ 210 for 5 years

How do I check my bike installment?

Through SMS: The number 97177 52222 is their self-service call number. After giving a call to this number, it instantly gets disconnected. You then immediately receive the details regarding your loan application status on the mobile number listed with the company.

How can I buy a bike on EMI?

How to buy a bike on instalment?

Check eligibility. If you already have a bike model in mind, then you need to start by checking if you are eligible for a Two-Wheeler Loan.
Calculate EMI. The next step is to calculate the EMI or the equated monthly instalments.
Apply for loan. Now you are all set.

How is EMI amount calculated?

How is EMI calculated? The mathematical formula to calculate EMI is: EMI = P × r × (1 + r)n/((1 + r)n – 1) where P= Loan amount, r= interest rate, n=tenure in number of months. The higher the loan amount or interest rate, the higher is the EMI payments and vice versa.

How is EMI calculated?

The EMI can be calculated using either the flat-rate method or the reducing-balance (aks the reduce-balance) method. The EMI flat-rate formula is calculated by adding together the principal loan amount and the interest on the principal and dividing the result by the number of periods multiplied by the number of months.

What is monthly installment?

More Definitions of Monthly Installment Monthly Installment means the amount of monthly payments required to be paid to the Lender which may be either fixed (EMI) or variable as set out in the Schedule and Annexure attached hereto, to amortise the Loan with Interest over the tenure of the Loan.

What is the EMI for 40 lakhs loan?

EMI Calculations for a Home Loan of Rs. 40 Lakh with varying Tenors

Loan Details	Monthly Instalment
40 lakh home loan EMI for 30 years	Rs. 35,103
40 lakh home loan EMI for 20 years	Rs. 38,601
40 lakh home loan EMI for 15 years	Rs. 42,984
40 lakh home loan EMI for 10 years	Rs. 52,860