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How to Calculate Two-Wheeler Loan EMI?

Using an online EMI calculator for your two-wheeler loan is not just easy, but also good for your budget planning. Find out why.

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How to Calculate Two-Wheeler Loan EMI?

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  1. How to Calculate Two-wheeler Loan EMI?

  2. Why Take a Two-Wheeler Loan? • Affordable and quickly approved • Online application possible • Repayment flexible • EMI calculator available online to plan budget better

  3. EMI Calculator – What is it? • Helps figure out what you must pay monthly and for how long • Helps choose the ideal tenure, so that the EMI is affordable

  4. The Working of an EMI Calculator • Enter the amount (of loan you want) • Enter the rate (charged by the lender) • Enter the tenure (duration of loan repayment) • EMI is high when loan amount or interest is high. EMI is low if tenure is long.

  5. Alternative Way to Calculate EMI • Use the formula - EMI = [P x R x (1+R)^N]/[(1+R)^N-1] • P = Principal, R = Rate of Interest, N = Tenure • Using an online calculator is easier as you just have to tweak variables to get the right EMI

  6. Factors That Impact Interest Rate (R) • Age • Income • Credit score • Tenure • Current liabilities

  7. Why Use an EMI Calculator For Two-Wheeler Loan? • Helps plan monthly finances and minimises risk of default • Tells if you can afford your preferred bike or a loan • Calculates different EMI probabilities fast and accurately • These are free and can be used on any device

  8. Conclusion Know your EMI and test your affordability before taking a two wheeler loan. Use an online EMI calculator.

  9. Thank You !Would Love to Hear From You Hero FinCorp Limited 09, Basant Lok, Vasant Vihar, New Delhi - 110057 Tel. 18001024145 Email Id: customer.care@herofincorp.com Website: https://www.herofincorp.com/ Know more- How to Calculate Two-wheeler Loan EMI?

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