Find out how long do you have to wait to make your Dream Bike yours!!
Enter your Dream Bike price, maximum monthly savings for that, current savings and expected rate of return on your investments. This calculator will tell you the time required to make your dream bike yours.
In today's generation, two-wheeler loans are deemed to be the simplest and quickest way to purchase your dream bike. These types of loans are suited for all ages because they simply have to pay a nominal down payment upfront and the remaining amount in Equated Monthly Installments (EMIs) form.
Purchasing a new dream bike involves various steps starting with deciding on a feasible budget. Fintra is here to assist in your decision of selecting the best bike suiting your budget. Our Dream Bike Calculator tool provides comprehensive break-up of the total payable amount and loan-payoff period based on your loan amount and other essential information to calculate the EMI for your bike loan. Fintra's Dream Bike Calculator is one of the simplest ways to calculate your dream bike loan EMIs.
After how many years from now, you plan to purchase your Dream Bike?
Use Fintra’s easy-to-use Dream Bike Calculator, which helps you to plan better and invest accordingly to get hands-on your dream bike.
Enter the following credentials:
- Dream Bike’s Price
- Maximum Monthly Savings/Investments
- Current Savings for your Dream Bike (₹)
- Expected Annual Rate of Return (%)
Hit the 'Submit' button and Fintra’s hassle-free Dream Bike Calculator will calculate the investment required to buy your dream bike!
What is an EMI?
A loan is a financial agreement between a lender and a borrower. In this agreement, the lender provides a specific amount of money to the borrower with the intent of getting paid back with interest as monthly instalments over a predetermined period of time by the borrower.
How to calculate loan EMIs using Excel?
You can calculate EMIs using the Excel spreadsheet. In Excel, use the function PMT for calculating EMIs. The EMI formula in excel uses the following syntax: PMT (rate, nper, pv).
The variables in the above formula are:
rate – Interest rate for the loan.
nper – Total number of payments for the loan.
pv – Present value/principal.
What are the required documents for Two Wheeler Loan?
The vital documents are:
Identity Proof: 2 passport sized photographs, Passport, Voter’s ID card, PAN card, Aadhaar card, Driving license, Photo credit card, Company’s ID card, etc.
Address Proof: Passport, Voter’s ID card, Telephone or Gas bill, Rental agreement, Credit card statement, LIC policy, Driving license, Property purchase documents, etc.
Income Proof: Last 3 months’ salary slips, proof of office address, ITR of last 2 years and other relevant documents, as per the profile of the applicant
What are the minimum and maximum loan amount of two-wheeler loan?
The minimum loan amount offered is around Rs. 30,000 and the maximum loan amount offered is around Rs. 25 lakh.
Can you apply for another loan from the same bank, if you already are availing a two-wheeler loan?
Yes, you can avail another loan.