Bike EMI Calculator
Calculate your monthly bike loan EMI (Equated Monthly Installment) with accurate interest calculations
Calculate Your Bike EMI
Total purchase price of the bike/motorcycle
Amount paid upfront (10.0% of bike price)
Annual interest rate charged by the lender
Duration of the loan (24 months total)
Loan Amount
₹90,000
90.0% of bike price
Down Payment %
10.0%
of total price
Monthly Rate
1.75%
per month
Total Months
24
loan duration
EMI Calculation Results
| Equated Monthly Installment (EMI) | ₹4,624 |
| Annual Percentage Rate (APR) | 20.99% |
| Loan Term | 24 months |
| Loan Principal | ₹90,000 |
| Total Interest Payable | ₹20,982 |
| Total Payments | ₹1,10,982 |
Monthly Payment Breakdown (First 12 Months)
| Month | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₹4,624 | ₹3,050 | ₹1,574 | ₹86,950 |
| 2 | ₹4,624 | ₹3,103 | ₹1,521 | ₹83,847 |
| 3 | ₹4,624 | ₹3,157 | ₹1,467 | ₹80,690 |
| 4 | ₹4,624 | ₹3,213 | ₹1,411 | ₹77,477 |
| 5 | ₹4,624 | ₹3,269 | ₹1,355 | ₹74,208 |
| 6 | ₹4,624 | ₹3,326 | ₹1,298 | ₹70,882 |
| 7 | ₹4,624 | ₹3,384 | ₹1,240 | ₹67,498 |
| 8 | ₹4,624 | ₹3,443 | ₹1,181 | ₹64,055 |
| 9 | ₹4,624 | ₹3,504 | ₹1,120 | ₹60,551 |
| 10 | ₹4,624 | ₹3,565 | ₹1,059 | ₹56,986 |
| 11 | ₹4,624 | ₹3,627 | ₹997 | ₹53,359 |
| 12 | ₹4,624 | ₹3,691 | ₹933 | ₹49,669 |
Green = Principal payment, Red = Interest payment
EMI Tips
Higher down payment reduces EMI burden
Compare interest rates from different lenders
Shorter tenure means higher EMI but less total interest
Check for pre-payment options to save on interest
Keep EMI below 40% of monthly income
Quick EMI Reference
₹50,000 Bike (₹5,000 down)
~₹2,078/month (24 months @ 21%)
₹1,00,000 Bike (₹10,000 down)
~₹4,156/month (24 months @ 21%)
₹1,50,000 Bike (₹15,000 down)
~₹6,235/month (24 months @ 21%)
₹2,00,000 Bike (₹20,000 down)
~₹8,313/month (24 months @ 21%)
Approximate EMIs for common bike prices
Typical Loan Requirements
Age: 21-65 years
Minimum income: ₹15,000/month
Down payment: 15-30%
Valid driving license
Good credit score (650+)
Identity & address proof
Understanding Bike EMI Calculation
What is EMI?
EMI stands for Equated Monthly Installment. It's a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month, so that over a specified number of years, the loan is fully paid off.
EMI Formula
EMI = P × r × (1 + r)^n / ((1 + r)^n - 1)
P = Principal loan amount
r = Monthly interest rate
n = Number of monthly installments
Key Components
- •Principal: The loan amount after down payment
- •Interest Rate: Annual percentage rate charged by lender
- •Tenure: Loan repayment period in months or years
- •Down Payment: Upfront payment towards bike purchase
How Bike Loans Work
1. Application: Submit loan application with documents
2. Approval: Lender verifies income and credit score
3. Disbursement: Loan amount paid to dealer/seller
4. Repayment: Monthly EMI payments for agreed tenure
5. Ownership: Full ownership after final EMI payment
Factors Affecting EMI
Loan Amount: Higher loan amount = Higher EMI
Interest Rate: Higher rate = Higher EMI
Tenure: Longer tenure = Lower EMI (but more total interest)
Down Payment: Higher down payment = Lower EMI
Credit Score: Better score = Lower interest rate
Pro Tip: Try to make a higher down payment to reduce your EMI burden and total interest payable over the loan tenure.