The bike loan EMI calculator is a user-friendly tool that helps you calculate the estimated monthly payments (EMI) for your bike loan. By entering key details such as the loan amount, interest rate, and repayment tenure, the calculator gives you an instant estimate of your EMI. This helps you plan your finances and choose a loan that suits your budget.
Planning to buy your new bike?
Calculate your EMI with RING
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About Bike Loan EMI Calculator
RING offers a fast and paperless loan process to help you finance your dream bike. Whether you're buying a new ride or upgrading to something faster, our bike loan EMI calculator ensures you know exactly how much you'll pay each month. It's transparent, reliable, and takes the guesswork out of financing.
Benefits of Bike Loan EMI Calculator
Quick & Easy
Budget-Friendly
100% Transparency
Plan Ahead
Features of Bike Loans
Credit Up to Rs. 5 Lakhs
Avail of credit up to Rs. 5 lakhs with paperless KYC.
Flexible Repayment
Choose repayment periods from 3 to 60 months.
Instant Approval
Money transferred to your bank account in 5 minutes.
Zero Paperwork
100% Digital - Hassle-free process
No Collateral Required
Secure a loan without pledging any assets.
Transparent Terms
Know all costs upfront with no hidden charges.
Competitive Rates
APR ranges from 32% to 57% per annum.
Multi-Purpose Loans
Use your loan for personal or business purposes
Check Your Eligibility
Instant Personal Loan Eligibility Criteria
To qualify for a personal loan applicants need to meet the following criteria:
- Nationality: Indian citizen.
- Age: Between 23 and 55 years.
- Documentation: Selfie, PAN Card, and Aadhaar Card.
- Income Proof: Required only for select high-value loans based on credit profile.
- Profile : Salaried, Self-Employed, Small busines owner & MSMEs
Having these documents prepared ensures a smoother and quicker application process
Follow these simple steps to get started:
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Verify Mobile Number
Enter your number on the RING app/website, receive an OTP, and verify.
Bike Loan EMI Calculator
Breaking Down the Cost: Interest Rates Explained
A tool designed to help you understand the monthly payment on your loan. Whenever you take a loan, the EMI amount that you will pay is very important in helping you arrive at your final loan amount and repayment tenure. Our personal loan calculator helps you do just that. You will be able to see your monthly payment, and this will help you decide what your loan amount should ideally be, and if it is payable over a period.
Principal Amount (A): ₹500,000
Interest Amount (B):
Your EMI: ₹ per month
Your Loan Amount: ₹500,000
At Interest Rate of: 2%
For : 2 years
Total Payable: ₹
Here’s a quick example to illustrate:
- Loan Amount (Principal): ₹1,00,000
- Tenure: 12 months
- Interest Rate: 13% per annum
- Processing Fee (incl. GST): ₹3000 (3%)
- Total Interest: ₹7,180.73
- EMI: ₹1,374.63
- APR: Start from 14%
Disclaimer - The Loan EMI Calculator only shows an estimate. Consult your lender for accurate details.
The Formula to Calculate EMI on Bike Loans
The formula for calculating EMI is as follows:
EMI = [P x R x (1+R) ^N]/ [(1+R) ^ (N-1)]
P= Principal loan amount | R= Monthly interest rate (annual interest rate divided by 12) | N= Loan tenure in months
**To explain it further, let’s see an example:**
Suppose you take a loan for ₹5,00,000 with an annual interest rate (IR) of 10% for a tenure of, say, 5 years (60 months).
First, convert the annual interest rate to a monthly interest rate. In this case, the monthly interest rate would be 10%/12 = 0.00833.
Using the formula, you can calculate the EMI as follows:
EMI = [500000 x 0.00833 x (1+0.00833)^60] / [(1+0.00833)^60-1]
By simplifying the equation, you will find that the EMI for this loan would be approximately ₹10,609.
This means that your monthly payment will be ₹10,609 for 60 months to repay the loan amount along with the interest.
For a more detailed explanation, you can refer to this blog.
Hear from Our Happy Customers
Manoj Verma
Kolkata, Food Delivery Rider
Getting a bike was essential for my job, but I didn’t want to stretch my budget too thin. RING’s bike loan EMI calculator helped me calculate exactly what my monthly payments would be. I could adjust the tenure until I found a plan that fit perfectly within my earnings. Today, I’m riding my new bike around the city, and the EMI feels like a breeze! I can’t believe how easy the process was, and I’m thankful to RING for making my life simpler.
Pooja Mishra
Pune, Student
As a student, I needed a bike to commute to college, but taking out a loan felt intimidating. Then I found the bike loan EMI calculator on RING’s app. It showed me how affordable the EMI would be, and I could plan my budget accordingly. Now, I’m riding to class every day, and the loan is manageable, thanks to RING’s transparent process. I never imagined I could get my dream bike without worrying about finances!
Rahul Kulkarni
Mumbai, IT Professional
I’ve been eyeing an upgrade for my old bike for a while, but figuring out the finances always stopped me. That’s when I came across the bike EMI calculator from RING. It gave me a clear picture of my monthly payments, so I could adjust the loan amount and tenure until everything fit perfectly within my salary. Now, I’m zipping through Mumbai traffic on my new bike without any stress about the EMI! RING made everything so smooth and simple.
Sneha Reddy
Hyderabad, Freelancer
Being a freelancer, I needed a reliable bike to meet clients and commute around the city, but I wasn’t sure if I could afford the EMI. RING’s bike loan EMI calculator showed me that it was possible! I could customise the loan amount, tenure, and see the exact EMI I’d be paying. It was such a relief to know everything upfront. I’ve now got my new bike, and managing the monthly payments is a breeze. Thanks to RING, I have the freedom to take my business wherever I want!
Ravi Patel
Bangalore, Mechanic
Buying a bike had always been on my mind, but the thought of high monthly payments was holding me back. RING’s bike loan EMI calculator changed everything for me. I could see how affordable my EMI would be, and the whole process was so transparent. Now I have my dream bike, and the EMI is perfectly manageable. I’m grateful for RING’s straightforward approach—it made everything possible for me!
Kavita Sharma
Delhi, Graphic Designer
When I decided to buy my first bike, I was worried about managing the monthly payments. But RING’s bike EMI calculator gave me all the answers I needed. I could see exactly how much I’d be paying each month, and it fit right within my budget. The whole process was seamless, and now I’m proud to say that I’m a bike owner! I love the flexibility that RING offers, and the confidence it gave me in making this big decision.
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Got Questions? Let's get to them.
What is a bike loan EMI calculator, and how does it work?
How do I use the bike loan EMI calculator on RING’s platform?
Using RING’s bike EMI calculator is incredibly simple. Just enter the loan amount you wish to borrow, the interest rate offered, and the tenure (the time period over which you’ll repay the loan). The calculator will immediately provide you with an estimated EMI based on your inputs. You can adjust these numbers as needed to find a repayment plan that works best for you.
What factors influence my EMI?
Your EMI is affected by three main factors: the loan amount (how much you borrow), the interest rate (the cost of borrowing), and the loan tenure (how long you take to repay the loan). Using the bike loan EMI calculator, you can adjust these factors to see how they impact your monthly payment. A higher loan amount or a longer tenure may increase the total interest paid, while a shorter tenure might increase the monthly EMI.
Can I reduce my EMI by increasing the loan tenure?
Yes, increasing the loan tenure can lower your EMI, as you’re spreading the repayment over a longer period. However, keep in mind that while your EMI might be smaller, the total interest paid over the life of the loan will be higher. The bike loan EMI calculator can show you how different tenures affect your overall loan cost, so you can make an informed decision.
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