Bike Loan EMI Calculation Examples | Two Wheeler Loan EMI kaise Check Kare
Bike Loan EMI Calculation Examples | Two Wheeler Loan EMI kaise Check Kare
In this video by FinCalC TV we will see Bike Loan EMI Calculation Examples in Hindi with Calculator. This video will help you to know how to calculate bike loan EMI, what is EMI, Two Wheeler Loan EMI kaise Check Kare and bike finance kaise kare.
Bike Loan Calculator:
https://fincalc-blog.in/bike-loan-emi...
Bike Loan Excel Calculation Video:
• Bike Loan EMI Calculator Excel EXAMPLES | ...
Home Loan Prepayment Video
• Home Loan EMI Prepayment | How to Save Hom...
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CHAPTERS:
00:00 Bike Loan EMI Calculation Intro
00:22 Principal and Interest Amounts in Loan EMI
01:14 Factors to consider while opting for Loan
01:41 Why Loan Tenure must be Low?
02:16 Bike Loan EMI Calculator
03:39 EMI Calculation Example using Calculator
05:04 Reducing Interest Rate in Calculator
05:43 Reducing Loan Tenure in Calculator
06:33 Another Example for EMI Calculation
07:17 Bike Loan EMI Excel Calculator Download
08:23 Bike Loan Prepayment or Part payment
THINGS TO KNOW ABOUT BIKE LOAN EMI
There are 2 parts of your EMI: Principal amount & Interest Amount
Interest Amount is high initially during your Bike Loan tenure
Principal amount is less initially during your Bike Loan tenure
High interest amount is already taken at the initial Bike loan period from your EMIs
You should pre pay most of your principal amount if you want to decrease maximum interest amount in your Bike Loan
You can easily calculate your Bike loan EMI using excel calculator as we can see in above video
Pre pay your Bike loan principal amount initially as much as you can to decrease interest amount that you have to pay throughout your loan tenure
Increase in Bike loan tenure will increase the interest amount you’ll pay throughout your Bike loan tenure
How to Save Bike Loan Interest?
Below are some ways to save bike loan interest:
Check for low interest rate bike loans
Keep the tenure low. Higher the tenure, longer you will keep paying EMI thus increasing the overall interest amount. So keep tenure low
Make Bike Loan Prepayments whenever possible. Prepayment is a method to pay additional amount to reduce your principal outstanding balance on your loan.
Keep the loan amount as low as possible by doing maximum down payment for your bike.
Check interest rates in banks and compare with showrooms
BENEFITS OF USING ONLINE BIKE LOAN EMI CALCULATOR
There are multiple benefits of using bike loan calculator:
You will know correct bike loan EMI. No showroom can provide you incorrect quotes and misguide you.
This calculator gives you the idea of EMI to check if you can afford
You can also adjust the tenure in months and get the EMI in affordable range
It gives you the EMI amount for various interest rates that you can compare between banks such as SBI, ICICI, Axis, HDFC, etc.
#BikeLoan #EMI #fincalc
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DISCLAIMER:
Examples and demo used are for Illustration purpose only and might not cover every detail of examples shown.