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How To Calculate EMI For Bike Loan? Offline Vs Online


Key Highlights

  • Online Bike Loan EMI calculators deliver speed, efficiency and precision, significantly surpassing conventional offline methods in computing monthly repayments
  • The bike loan EMI calculation formula is [P x R x (1+R)^N]/[(1+R)^N-1]
  • Undertaking a two wheeler loan EMI calculation online is much easier as compared to offline methods.
  • It just requires the input of principal, rate of interest and tenure of loan to give estimates to calculate EMI using bike loan calculator.

Did you know that over 13.5 million two-wheelers were sold in India in 2022 alone? This number reflects the surge in demand for bikes, with many individuals opting for two wheeler loans to make their purchase easier. Understanding how to calculate EMI for bike loan is crucial to managing finances effectively while fuelling your dreams of owning a two-wheeler.

It is essential to learn how to calculate EMI for bike loan if you are planning to take out a two-wheeler loan. EMI calculators can be helpful tools for managing finances by providing a clear understanding of the monthly repayment obligations for loans, enabling better budgeting and planning. Read on to discover how to calculate EMI for bike loan.

Bike Loan EMI Calculation Formula

The EMI for bike loan depends on the loan amount, the interest rate and the loan tenure. But, how to calculate EMI for bike loan? Let's delve in.

Bike loan EMI calculation formula is:

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


  • P = principal amount or the loan amount
  • R = monthly interest rate (annual interest rate/12/100)
  • N = number of installments or the loan tenure in months

For instance, let's say you want to calculate the equated monthly installment (EMI) for a loan with the following details:

Principal amount (P) = ₹ 2,00,000

Annual interest rate (R p.a.) = 11.5%* p.a.

Loan tenure (N) = 36 months

To calculate the monthly interest rate (R), we divide the annual interest rate by 12 (months) and then divide by 100:

R = 11.5 / 12 / 100 = 0.0095833

Now we can substitute the values into the EMI formula:

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

EMI = [200000 x 0.0095833 x (1+0.0095833)^36] / [(1+0.0095833)^36-1]

If you solve this equation, you will find that your EMI would be ₹ 6595.

This Two-Wheeler Loan EMI calculation offline method can be time-consuming and prone to mistakes if done manually. Comparing different interest rates can also become a hassle using the offline method.

Calculate EMI Using Bike Loan Calculator

Wondering how to calculate EMI for bike loan online? Online method of two-wheeler loan EMI calculation is done via bike loan EMI calculators. It is not only fast but also highly accurate, reducing the chances of human errors. Follow these steps to calculate EMI using bike loan calculator:

  • Step 1: Fill in loan details such as principal amount, interest rate and tenure of the loan
  • Step 2: Adjust the figures with the given slider
  • Step 3: Loan amount, interest payable and EMI will be calculated as per your inputs

With Shriram Finance, you gain access to online tools like our Bike Loan EMI Calculator, making the loan process straightforward and transparent. Don't wait, explore Shriram Finance's two-wheeler loan options today!


1. What is the EMI rate for a two wheeler loan?

The EMI rate for a two-wheeler loan varies across lenders, typically interest rates start at 11.5%* p.a. and can go up to 15%* p.a. depending on the availability.

2. How do missing EMI payments impact my loan schedule?

Missing EMI payments can negatively impact loan schedules, leading to increased interest costs and a potential dip in credit score. Loan tenure might also get extended due to the pending payments.

3. How do I calculate monthly instalment?

To calculate the monthly installment for a loan, one can useShriram Finance’s online EMI calculator. Enter the loan amount, tenure and interest rate and the calculator will provide the monthly installment amount instantly.

4. Are there any drawbacks to calculating bike loan EMI offline?

Calculating bike loan EMI offline might require manual calculations, which can be time-consuming and prone to errors. Additionally, offline methods may not consider dynamic factors like changing interest rates or loan terms

5. What are the advantages of using online tools to calculate bike loan EMI?

Online tools offer convenience and speed in calculating bike loan EMI. They are easily accessible from any device with an internet connection. Online calculators usually provide additional features like graphs, amortization schedules, and comparisons, helping you make informed decisions.

Get a two wheeler loan at low interest rates