Home Finance 4 Steps On How To Calculate Bike Loan EMI : Must Read

4 Steps On How To Calculate Bike Loan EMI : Must Read


Bikes are the best way to navigate through traffic and be on time to work or attend urgent meetings. Owning your favourite bike is easy and seamless through two-wheeler loans. It is a step closer to transport convenience. The best part about two-loans is the low two-wheeler loan interest rate. 

The process of applying for a two-wheeler loan is simple and easy. The loan amount can be repaid in equated monthly instalments (EMI). EMI is a combination of both principal amount and two-wheeler loan interest rate paid every month of the loan tenure. 

Are you eligible to apply for a bike loan? 

The eligibility criteria need to be looked into beforehand to understand whether you meet them or not. The requirements to apply for Muthoot two-wheeler loan are: 

  • The applicant must be a salaried person or a self-employed person 
  • The applicant’s age should be 18 years at the time of applying and 65 years at the end of the loan tenure
  • Must earn a minimum of Rs. 96,000 as net income (salaried individual) 
  • Must show a minimum net profile of Rs. 1,20,000 (self-employed person) 

Before applying for two-wheeler loans, it is crucial to understand how much you have to pay monthly as EMI. Every bank has an online bike loan calculator known as an EMI calculator that helps to ascertain a suitable EMI amount using loan tenure, down payment, and interest rate. 

Important components of the bike loan calculator

  • Principal two-wheeler loan amount 
  • Two-wheeler loan interest rate
  • Loan tenure

Benefits of using EMI calculator

  • One of the significant benefits of using a bike loan calculator is that you can get an amount that works for you. 
  • It allows you to choose a loan tenure within which you can pay back the loan amount. 
  • There is the flexibility to pick a two-wheeler interest rate, given that you can estimate the repayment tenure.
  • A bike loan calculator allows you to compare costs and choose a plan that suits your requirement. 
  • It helps gather information on the charges involved, such as processing fees, etc. 

How to use a bike loan calculator?

  • Before applying for two-wheeler loans, you must determine your monthly budget and the EMI you can afford to pay every month. 
  • Choose a loan amount and EMI that you can afford from your monthly income. 
  • Select the loan amount you need, the interest rate, and the loan tenure on the EMI calculator 
  • You can change the loan amount, interest rate, and repayment tenure until you reach an EMI that best suits you. 
  • It would be wise to spend time on an EMI calculator and keep adjusting various options until you come up with an affordable EMI. 

 Four easy steps to calculate a bike loan EMI

  1. Visit an EMI calculator portal: The first step to visit the lender’s website and find the bike loan calculator.
  2. EMI calculator: Click on the bike loan calculator
  3. Select details: To find the right EMI for yourself, enter details such as preferred loan amount, desirable loan tenure, and interest rate. 
  4. Submit: You will get an EMI amount payable upon clicking on the ‘Submit’ button. 


Getting two-wheeler loans is simple. However, the challenge lies in determining the right monthly EMIs. Using a bike loan calculator would help you come up with the most affordable EMI.