Having a two-wheeler is the most convenient way to navigate through heavy traffic and attend work or meetings on time. A bike also helps in following the social distancing norms mandated by the unprecedented COVID-19 pandemic. It is much better to commute by a two-wheeler vehicle than in a crowded public bus or metro. 

If you are in short of finances to afford a bike on your own, you can apply for a two-wheeler loan and own your dream bike without putting any financial burden on yourself. You can buy a bike on EMI and avail of the most attractive interest rates with flexible repayment tenure. Most lenders offer almost 100% of the on-road price of the vehicle. 

The benefits that come with a two-wheeler are: 

  • The repayment loan tenure can range from as low as 12 months and can go up to 48 months. 
  • Almost anyone can apply for a two-wheeler loan because of lower bike loan interest rates. 
  • You can use an EMI calculator to figure a convenient EMI for yourself. 
  • Compared to personal loans, there is minimum documentation involved. 
  • A two-wheeler loan gets approved quickly. 
  • You can also decide what down payment you can afford to pay based on your financial requirements. 

Eligibility Criteria

The very basic step you need to take is by checking if you are eligible to apply for a two-wheeler loan. Each bank and non-banking financial company has different criteria. You need to ensure that you meet the requirements of your chosen lender. 

 The common requirements to apply for a two-wheeler loan are: 

  • You can be either a salaried person or a self-employed person to apply for a loan. 
  • Your age at the time of application should be 18 years and 65 years at the end of the loan tenure. 
  • If you are a salaried person, you must earn a minimum of Rs. 96000 per annum as income. 
  • If you are self-employed, you must earn a net profit of Rs. 120,000 per annum. 
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After meeting your lender’s requirements, you must assess your finances and needs to understand how much you can afford to pay as EMI. Most lenders have an online two wheeler loan EMI calculator, which can help you determine an EMI figure based on your needs. You come to a suitable figure using the loan amount, down payment, and interest rate. 

There are three main components you have to factor in to calculate your monthly EMI. 

  • The principal loan amount
  • Bike loan interest rate
  • Loan tenure 

Why should you choose an EMI calculator? 

  • The best part about a bike loan EMI calculator is that you can get the EMI amount that works for you. 
  • You can choose a repayment tenure based on your needs within which you will be able to pay the loan amount with interest. 
  • You have the flexibility to choose a bike loan interest rate based on your preference. 
  • An online EMI calculator enables you to compare different costs and figure out a plan that caters to your needs. 
  • You can also gather relevant information such as processing fees and other hidden charges.

How does an EMI Calculator work?

It is crucial to know your EMI amount before committing to a two-wheeler loan. You can use an EMI calculator and plan to repay your loan amount with interest without having any issue. 

  • Choose a loan and EMI amount that you can afford to pay on time from your monthly income. 
  • Enter the loan amount you need, the bike loan interest rate, and the repayment tenure on the EMI calculator. 
  • You can easily change the values of the loan amount, interest rates, and loan tenure until you reach a suitable EMI. 
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It is advisable to spend time on an EMI calculator and keep adjusting numbers until you come up with a monthly figure that best serves your needs. It is important to repay on time 

How to calculate your two-wheeler finance EMI? 

  • Visit your lender’s web portal and find their bike loan EMI calculator. 
  • Click on the bike loan EMI calculator. 
  • You can add different values, such as the principal loan amount, repayment tenure, and a bike loan interest rate. You can keep changing these numbers to figure your EMI. 
  • After reaching an EMI amount based on your requirements, click submit to begin the process of getting a two-wheeler loan. 


Getting a two-wheeler vehicle loan is simple, easy, and convenient. However, you must ascertain your EMI amount to avail of an affordable two-wheeler loan.


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