It is easy to buy a bike on EMI in a few easy steps. Visit the site and check your eligibility. Use the two wheeler loan calculator to understand how long your tenure should be and what is the quantum of the EMI you can pay comfortably every month. The loan calculator will help you gauge your capacity to take the loan. Check out your monthly budget plan and set your equated monthly instalments accordingly.
Here are the documents you require when you buy a bike on EMI.
- ID proofs – Aadhaar, voter Id, passport or a driving license.
- Address proof – Aadhaar, passport, driving license or a utility bill.
- Income proof – IT returns, salary slips or bank account statement of the last 6 months is mandatory. It is a good idea to use the two wheeler loan calculator to ascertain your EMI amount.
Yes, there are some charges that are a part of the loan like processing charges. You also have to pay a small interest component and applicable taxes when you buy a bike on EMI. These charges are added to the Equated Monthly Instalment.
The EMI is the sum total of the principal amount of the loan, the interest component as reducing interest and the taxes applicable. Some loans may also add the processing charges in the sum total. The two-wheeler loan calculator takes into account the amount left over after the down payment is made. When you avail our special schemes when buying a bike on EMI the entire amount is repaid as EMI and no down payment is required.
The two wheeler loan EMI calculator is useful when you buy a bike on EMI. You can use the tool to check out how much EMI you need to pay when you change the tenure or the interest rate. You can reach a consensus about what your exact monthly outlay is.