know about the Bike EMI calculator – What is the benefits

With two-wheeler loans, you can purchase either a scooter or a sports bike. Let’s define them and discover the variables influencing the interest rates for a two-wheeler loan. Before sending your loan application, learn how to utilize a bike EMI calculator. The main amount is provided by the lender as 90% to 100% of the vehicle’s on-road price, and interest is charged on the borrowed sum. You, as the borrower, can pay back the loan over a range of terms using affordable Equated Monthly Instalments (EMIs).

What is the two-wheeler loan EMI calculator used for?

You may calculate the prospective EMI payments against the loan amount borrowed using a free online tool called a “bike loan EMI calculator.” The calculator rapidly calculates the EMI due based on characteristics of the basic loan components, such as the principal amount, rate of interest, and payback period. 

How is the EMI for a bike loan calculated?

You may calculate your EMI manually using the following method manually:

EMI = [P x R x (1+R) x N] /[(1+R) ^N-1]


  • P is the loan’s principal.
  • R = 100 divided by the interest rate.
  • N is the loan’s duration in months.

How to calculate Two-Wheeler Loan EMI

Using the instructions below, you may calculate the Two-Wheeler Loan EMI payable on your bike loan.

  1. Visit the Bike Loan page on the website of your preferred lender to discover the Bike EMI Calculator.
  2. Make sure you do not input a sum greater than the maximum amount permitted by the Financial Institution when entering the loan amount in the first tab of the calculator.
  3. In the calculator’s second tab, you must then input a suitable interest rate. The minimum lending rate established by the lender cannot be lower than the interest rate on the two-wheeler loan.
  4. You must now input your selected loan payback period on the calculator’s third tab. While the maximum payback period cannot exceed five years, the minimum repayment period could not be under one year.
  5. The EMI calculator for two-wheelers instantly calculates the EMI payable in a matter of seconds once you enter the necessary information.
  6. Until you find a reasonable EMI figure, you may clear all the Bike EMI calculator columns and enter new values.
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Benefits of Using an EMI Calculator for Bike Loans

The following reasons make using the calculator tool safer and more practical than performing calculations by hand:

  • Speedy and Simple – Manual computations can take ages to accomplish because of their complexity. Overly hurried completion of the same might result in incorrect assumptions. In contrast, a bike EMI calculator evaluates the information you give and calculates your EMI obligations from the relevant loan in seconds.
  • Always Correct – When you manually calculate your two-wheeler loan EMIs, you will never be certain that the values you get at are correct. Keep in mind that even a small math error might drastically affect how you evaluate the loan in question. It is usually preferable to utilize a bike loan calculator to reduce such hazards. The tool will never show false results, regardless of how often you use it.
  • Simple to Use – Nearly anybody can use the calculator on Digit’s website because of how easy it is to grasp and navigate. You simply need to input the numbers by how the fields are indicated if you want the desired result.
  • Unlimited and Free Use – You may use our website’s bike loan EMI calculator without paying a dime. Additionally, the tool is available for as many uses as you require or choose.
  • Extra Information – These calculators frequently provide borrowers with additional details in addition to the monthly installment amount.
  • Convenient – Last but not least, utilizing an online two-wheeler loan calculator eliminates the need to go through the trouble of using a pen, paper, and computations. You can be forced to perform challenging multiplications and divisions as a result of manual computations, which demand a lot of tedious slogging. Fortunately, the bike EMI calculator handles all the legwork for you, enabling you to calculate your monthly obligations while on the road.
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What is the amortization schedule for bike loans?

As previously mentioned, borrowers use EMIs to repay bike loans. The elements of these EMIs are flexible even if the total EMI stays the same during the course of the loan. Typically, EMI consists of a specific proportion of principal to loan interest. Every month brings a new variation in this percentage.

For instance, at the beginning of the loan payback period, the majority of the EMIs’ principal component is absent. As the repayment period comes to a finish, the majority of your EMIs will be made up of the principal balance and very little interest.

A table is used to show the full split of the principal and interest components of your monthly EMI. This is referred to as the amortization table or schedule. It can be quite helpful, particularly if you choose to prepay or foreclose on the two-wheeler loan.


The long-term effects of taking out a bike loan without fully knowing the EMI payments associated with it can be detrimental to your financial security. Therefore, you must first determine how much you would have to pay each month to service this loan using an online bike EMI calculator. Three main elements determine the precise monthly loan obligations.

The three parameters are taken into account by the EMI calculator to calculate the amount you’d have to pay in monthly installments for a specific bike loan. The majority of these tools are freely and unrestrictedly accessible online.

You must submit the required data into this online calculator as the borrower. The calculator will then show your monthly payments as well as additional pertinent information, such as the total amount of interest due and the amortization timeline. You can therefore get a solid picture of your future EMIs with a bike loan calculator.

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