What is the EMI for a two-wheeler loan for 18-year-olds?

The Equated Monthly Instalment (EMI) for a two-wheeler loan for an 18-year-old applicant depends on several factors, typically including:

• Loan Amount: The principal borrowed for the two-wheeler purchase.
• Interest Rate: Varies based on the lender and applicant’s profile.
• Loan Tenure: Longer tenures result in lower EMIs, but the total interest paid increases.
• Applicant's Eligibility: Credit history, co-applicant involvement, or guarantor requirements may influence terms.

Applicants can use online EMI calculators to estimate the EMI by entering the loan amount, tenure, and interest rate. For example, if the loan amount is ₹50,000 at an interest rate of 10% for 24 months, the EMI would be approximately ₹2,307.

It’s essential to check with lenders regarding eligibility criteria for 18-year-old applicants and ensure timely repayment to maintain a good credit profile.