How is EMI calculated for bikes?

How is EMI calculated for bikes?

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.