What are the EMI options available for electric two-wheeler loans?

Equated Monthly Instalment (EMI) options for electric two-wheeler loans can vary based on the financial institution and the specific loan terms. Typically, the EMIs depend on the loan amount, interest rate, and repayment tenure chosen by the applicant.

Financial institutions often offer flexible EMI plans to make repayment easier. These options may include:

1. Standard EMI: This is the most common option, where the applicant pays a fixed monthly amount for the entire loan tenure.
2. Flexible Tenures: Applicants can usually choose repayment tenures ranging from a few months to a few years, based on what fits their budget. A longer tenure may reduce the EMI amount but could increase the overall interest paid.
3. Step-Up or Step-Down EMI: Some institutions might allow applicants to pay lower EMIs in the initial months, with an increase later (step-up), or higher EMIs initially, which reduce over time (step-down).

It’s a good idea to use online EMI calculators provided by banks and Non-banking Financial Companies (NBFCs) to understand the monthly outflow and choose the best option. Always review the terms carefully before finalising.