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Muthoot Capital offers bike loans at attractive interest rates.* One of the first things you need to know when finalising a two-wheeler loan is the interest rate. This can be a game changer, as it will show you the EMI amount and how it affects your monthly budget.
Let us cherish and nurture that trust and ensure that every person who deals with us deals with the confidence that he will not be misguided
Use our EMI calculator to know your monthly installment. Select the loan amount, the applicable rate of interest, and tenure. In an instant, you will get the details of the installment, and the total amount payable. It is a free tool which is easy to use and is designed to help you make informed decisions.
Please click the link below to view charges.
When you opt for a Two-wheeler Loan, you have two options to choose from in terms of interest rates- Fixed and Floating. They have some fundamental differences, which you can consider while choosing one for you:
| Fixed Interest Rate | Floating Interest Rate |
|---|---|
| This rate is determined at the beginning of the loan and remains the same throughout the tenure. Thus, you can plan your repayment accordingly. | A floating interest rate changes over time and is tied to a benchmark index. It adjusts periodically, reflecting market conditions and offering potential savings or increased costs depending on rate fluctuations. |
Several factors determine the interest rate on Two-Wheeler Finance. These include:
Get all your questions answered about Muthoot Two-Wheeler Loan!
Credit score determines your creditworthiness as a borrower. The lender evaluates your repayment capacity based on it. Consequently, deciding interest rates as well.
The interest rate is influenced by the total cost of the bike, your credit score, and your income.
You might get better loan terms if you have a good credit score and a stable income.
The EMI for a Two-Wheeler Loan is calculated using the EMI formula P x R x (1+R)^N / [(1+R) ^N-1], where P is the principal loan amount, R is the rate of interest, and N is the number of months.
Interest rates are fixed at Muthoot Capital. However, they have lower interest rates for ladies than regular ones.
Muthoot Capital Services Ltd. offers one of the lowest bike finance interest rate. Reach out to our representative to find out the best interest rate available for you. However, you should be aware that the two-wheeler loan interest rate depends on many factors which are discussed in the next FAQ.
The main factors that affect the two-wheeler loan interest rate are the loan amount, loan tenure, employment history and credit history of the borrower. If you have a healthy credit score, you will be charged a lower interest rate.
You can use our EMI calculator to compare the two-wheeler loan interest rates. The easy-to-use and free tool allows you to know the EMI you will pay based on the loan amount, loan tenure and the bike finance interest rate applicable. Once you have input all the details, your EMI is calculated instantly. Change the loan amount and tenure to compare the interest rate and decide the EMI (approximate) you are most comfortable paying.
Muthoot Capital provides special loan schemes for women with attractive interest rates and a simple application process. Our customer care representatives will guide you through every step. Call 1800 102 1616 to learn more about the available loan options.