Bike Loan

The Reserve Bank of India (RBI) increased the benchmark lending rate or repo rate by 25 basis points to 6.50 % on February 8th 2023 to strengthen the fight against inflation. The repo rate is the rate at which the central bank lends money to commercial banks. This decision to hike the repo rate will lead to an increase in the EMIs on home loans and other borrowings.

If you are looking for a bike loan from Bajaj Finance Ltd, you may want to know about your monthly EMI beforehand to plan your finances. Bajaj Finance provides a bike loan EMI calculator that will help you find out your monthly EMI for the loan amount and tenure chosen by you. By using this calculator, you can plan your down payment and suitable tenure best for your monthly income.

If you are planning to buy a two-wheeler with the help of ICICI Bank’s bike loan, you may want to check how much EMI you will be paying each month. While such mathematical calculations may seem tough, ICICI Bank lets you calculate the EMI in a matter of seconds through their exclusive two-wheeler loan EMI calculator. 

Although certain lenders do provide 100% finance on the value of the vehicle, getting it depends on your credit profile and relationship with the lender. Normally, the minimum down payment while purchasing a two-wheeler may range between 10% to 30% value of the vehicle. .

Two-wheeler loans are very widely sought after in India as the majority of the population travels either by bike or scooter. They are cheap to maintain and can help one get through the maddening city traffic with ease. There are many features of a two-wheeler loan.

The interest rate for a two-wheeler loan is dependent on certain factors. In general, the interest rates for two-wheeler loans begin at just 9% and can go upwards based on the below factors.