Two-Wheeler EMI Calculator
Small amounts, short tenures and frequent flat-rate quotes.
Enter your loan details
Add a loan amount, interest rate and tenure to see your EMI, schedule and savings. Or tap Defaults to start from typical values.
Outstanding balance over time
Yearly split of what you pay
In the yearly view, tap a year to see its months. Amounts are rounded to the nearest rupee.
Plan your prepayments
Balance with and without prepayment
Be debt-free by a date
Pay a little extra every month
Prepay or invest?
Got a lump sum? Compare prepaying it with investing it, both measured when the loan would have ended anyway.
What if your floating rate changes?
Rate sensitivity
Balance after the rate change
Which offer is really cheapest?
Enter up to three quotes for . Fees are included, and flat rates are converted, so the comparison is fair.
Flat rate vs reducing rate
Got two quotes, one flat and one reducing? Enter both to see which is really cheaper for your amount and tenure.
Flat-rate conversion table
Should you switch lenders?
How much can you borrow?
Lenders call this FOIR (fixed obligations to income ratio). Most allow 40–60% depending on income. The rate and tenure come from Loan details.
Two-Wheeler guide
What to understand before you choose. Rules and rates change, so confirm with your lender. Last reviewed: .
What to check before signing
- Ask whether the rate is flat or reducing. Flat rates of 6–9% are common at dealerships and work out to roughly 11–17% reducing.
- On small loans, fixed fees (processing, documentation, file charges) can add several percent to the real cost. The APR with fees in the insights shows the true rate.
- "Zero-interest" offers usually recover the cost through fees, a higher on-road price or skipped discounts.
How your EMI is split between interest and principal
Your EMI stays the same, but its make-up changes every month. Early on, most of it is interest, because interest is charged on a large balance. Later, most of it repays principal.
On a typical ₹1.2 lakh, 2-year two-wheeler loan at 12%, about 17% of what you pay in the first year goes to interest. The insights show this for your numbers, along with the month when principal first overtakes interest.
Simple habits that save the most
- Pick the shortest tenure you can afford: on a typical ₹1.2 lakh, 2-year two-wheeler loan at 12%, stretching it by one more year adds about ₹7.9K in interest.
- Use bonuses to prepay when the loan allows it. On short loans most of the interest is in the first few months, so earlier is better.
- Ask whether the rate is flat or reducing before comparing offers. A flat rate looks about half as expensive as it really is.
- Count the processing fee. On a short loan a 2% fee raises the real yearly cost noticeably. See "True rate with processing fee" in the insights.
- Keep your credit score high (750+). It directly affects the rate you're offered.
- Check foreclosure charges before closing early. Fixed-rate loans often charge a percentage of the outstanding amount, so prepay when the saving clearly beats the fee.
Frequently asked questions
What is the EMI on a ₹1.2 lakh two-wheeler loan at 12% for 2 years?
The EMI is ₹5,649 a month for 24 months. You would pay ₹15,572 in interest, ₹1,35,572 in total. Change the amount, rate or tenure above to see your own figures.
What does a 6.5% flat rate mean in reducing-rate terms?
Over 2 years, a 6.5% flat rate equals 12.02% on a reducing basis, about 1.8 times the quoted number, because flat interest is charged on the full amount even after you have repaid part of it. Always convert a flat rate before comparing it with reducing-rate offers.
How does the processing fee change the real interest rate?
A 2% fee on this two-wheeler loan means you receive ₹1,17,600 but repay the same EMIs, so the true annual rate is 14.05% instead of 12%. Use the true rate to compare offers.
Can I prepay or close my two-wheeler loan early?
Yes, but two-wheeler loans are usually fixed-rate, and lenders may charge a foreclosure fee, often a percentage of the outstanding amount. Check the charge in your sanction letter or Key Facts Statement before prepaying.