Bike and Two-Wheeler Loan EMI Calculator
The short answer
For a 1 lakh two-wheeler loan at 12 percent over 2 years, the EMI is about ₹4,707. You pay ₹12,976 in interest on top, so ₹1,12,976 in all. Shop loans sometimes show a flat rate, which costs more than this reducing-balance calculation.
For education loans: the study period plus any grace period before payments start. Interest in this time is added to the loan.
Monthly EMI
₹4,707
Loan amount
₹1,00,000
Total interest
₹12,976
Total payment
₹1,12,976
Month-by-month schedule (24 payments)
| Month | Interest | Principal | Balance |
|---|---|---|---|
| 1 | ₹1,000 | ₹3,707 | ₹96,293 |
| 2 | ₹963 | ₹3,744 | ₹92,548 |
| 3 | ₹925 | ₹3,782 | ₹88,766 |
| 4 | ₹888 | ₹3,820 | ₹84,947 |
| 5 | ₹849 | ₹3,858 | ₹81,089 |
| 6 | ₹811 | ₹3,896 | ₹77,192 |
| 7 | ₹772 | ₹3,935 | ₹73,257 |
| 8 | ₹733 | ₹3,975 | ₹69,282 |
| 9 | ₹693 | ₹4,015 | ₹65,268 |
| 10 | ₹653 | ₹4,055 | ₹61,213 |
| 11 | ₹612 | ₹4,095 | ₹57,118 |
| 12 | ₹571 | ₹4,136 | ₹52,982 |
| 13 | ₹530 | ₹4,178 | ₹48,804 |
| 14 | ₹488 | ₹4,219 | ₹44,585 |
| 15 | ₹446 | ₹4,262 | ₹40,323 |
| 16 | ₹403 | ₹4,304 | ₹36,019 |
| 17 | ₹360 | ₹4,347 | ₹31,672 |
| 18 | ₹317 | ₹4,391 | ₹27,281 |
| 19 | ₹273 | ₹4,435 | ₹22,847 |
| 20 | ₹228 | ₹4,479 | ₹18,368 |
| 21 | ₹184 | ₹4,524 | ₹13,844 |
| 22 | ₹138 | ₹4,569 | ₹9,275 |
| 23 | ₹93 | ₹4,615 | ₹4,661 |
| 24 | ₹47 | ₹4,661 | ₹0 |
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How to: Bike and Two-Wheeler Loan EMI Calculator
- 1Type the loan amount.
- 2Type the yearly rate, and ask the shop whether it is a reducing-balance rate.
- 3Set the period in months, for example 24.
- 4Compare the total payment with the bike's price.
At a glance
- Example
- 1 lakh at 12% for 24 months
- EMI
- ₹4,707 a month
- Total interest
- ₹12,976
Frequently asked questions
What is a flat rate?
A flat rate charges interest on the full loan for the whole period, not on the shrinking balance. A 10 percent flat rate can work out to nearly 18 percent on a reducing balance, so ask which rate is quoted.
Is a short loan always better?
It costs less in interest, but the EMI is higher. Choose the shortest period whose EMI fits easily in your monthly budget.