Bike Finance Calculator | EMI Calculator Hero, TVS

  • Adam
  • November 14, 2025

Calculate bike loan EMI for Hero, TVS & all brands. Bike finance calculator with rates from 9.7% p.a. Check eligibility, down payment & monthly installment online.

Bike Finance Calculator – EMI Calculator for Hero, TVS & All Brands

Calculate your bike loan EMI, down payment, and total cost with this comprehensive bike finance calculator. Whether you're buying a Hero Splendor, TVS Apache, Royal Enfield, or any two-wheeler, this online bike EMI calculator helps you plan your purchase with accurate monthly installment calculations based on loan amount, interest rate (starting from 9.7% p.a.), and tenure (12-60 months). Compare financing options across banks and NBFCs, check eligibility, and find the most affordable bike payment plan for your budget.

🏍️ Bike EMI Calculator

Calculate your monthly bike loan installment

Ex-showroom + RTO + Insurance
Minimum 5-15% recommended
Current rates: 9.7%-15%
12 to 60 months
Select bike manufacturer

Your Bike Loan EMI Results

Monthly EMI
₹2,753
Loan Amount
₹85,000
Total Interest
₹14,108
Total Payment
₹99,108

Detailed Breakdown

Component Amount
Bike On-Road Price ₹1,00,000
Down Payment ₹15,000
Loan Amount ₹85,000
Interest Rate 10.50% p.a.
Loan Tenure 36 months (3 years)
Total Interest Payable ₹14,108
Monthly EMI ₹2,753
Total Amount Payable ₹1,14,108

✅ Bike Loan Eligibility Calculator

Check maximum affordable bike loan

Net monthly take-home
Other loan EMIs per month
12 to 60 months
Typical: 9.7%-15% p.a.

Your Bike Loan Eligibility

Maximum Loan Amount
₹90,000
Affordable EMI
₹9,000
Max Bike Price
₹1,05,000

Eligibility Analysis

Parameter Value
Monthly Income ₹30,000
Existing EMI ₹0
Available for EMI (30%) ₹9,000
Interest Rate 10.50%
Tenure 36 months
Maximum Eligible Loan ₹90,000
Recommended Down Payment ₹15,000

🏍️ Popular Bike Brands EMI Comparison

Compare typical EMI for different bike brands

Brand Popular Model Approx. Price EMI @ 10.5% (36 months) Typical Interest
Hero MotoCorp Splendor Plus ₹75,000 - ₹85,000 ₹2,330 - ₹2,640 9.7% - 15% p.a.
TVS Motor Apache RTR 160 ₹1,20,000 - ₹1,35,000 ₹3,723 - ₹4,190 9.7% - 15% p.a.
Bajaj Auto Pulsar 150 ₹1,10,000 - ₹1,20,000 ₹3,413 - ₹3,723 10% - 15% p.a.
Honda CB Shine ₹80,000 - ₹90,000 ₹2,483 - ₹2,793 9.7% - 15% p.a.
Royal Enfield Classic 350 ₹2,00,000 - ₹2,20,000 ₹6,207 - ₹6,827 10% - 14% p.a.
Yamaha FZ V3 ₹1,15,000 - ₹1,25,000 ₹3,568 - ₹3,878 10% - 15% p.a.

Note: EMI calculations are approximate and based on typical financing conditions. Actual EMI may vary based on your credit profile, lender, down payment, and ongoing promotions. Always check with authorized dealers or financiers for exact rates.

Understanding Bike Finance & EMI Calculation

Bike financing or two-wheeler loans allow you to purchase a motorcycle or scooter by paying a small down payment upfront and repaying the remaining amount in monthly installments (EMIs) over a period of 12 to 60 months. Understanding how bike EMI is calculated helps you choose the right loan amount, tenure, and down payment for your budget.

Bike EMI Calculation Formula

The Equated Monthly Installment (EMI) for a bike loan is calculated using the reducing balance method:

Bike EMI Formula:

EMI = [P × R × (1 + R)^N] / [(1 + R)^N - 1]

Where:

  • P = Principal loan amount (Bike Price - Down Payment)
  • R = Monthly interest rate (Annual Rate / 12 / 100)
  • N = Loan tenure in months (12, 24, 36, 48, or 60)
  • EMI = Monthly installment amount

Example Bike EMI Calculation:

Bike On-Road Price: ₹1,00,000 (Hero Splendor Plus)

Down Payment: ₹15,000 (15%)

Loan Amount: ₹85,000

Interest Rate: 10.50% per annum

Tenure: 36 months (3 years)

Step 1: Calculate monthly interest rate

R = 10.50 / 12 / 100 = 0.00875

Step 2: Apply the EMI formula

EMI = [85,000 × 0.00875 × (1 + 0.00875)^36] / [(1 + 0.00875)^36 - 1]

Step 3: Calculate the result

EMI = [85,000 × 0.00875 × 1.3686] / [1.3686 - 1]

EMI = [1,017.16] / [0.3686]

Monthly EMI = ₹2,753

Total Amount Payable: ₹2,753 × 36 = ₹99,108

Total Interest: ₹99,108 - ₹85,000 = ₹14,108

Total Cost (with Down Payment): ₹99,108 + ₹15,000 = ₹1,14,108

Bike Loan Interest Rates 2025

Two-wheeler loan interest rates in India vary significantly based on lender type, loan amount, tenure, and borrower's credit profile:

Bank Interest Rates

Bank/NBFC Interest Rate Max Loan Amount Processing Fee
State Bank of India 12.60% p.a. onwards ₹50,000 - ₹25 lakh 2% of loan + GST
HDFC Bank 14.50% p.a. onwards Up to 100% on-road price Up to 2.5% + GST
ICICI Bank 10.25% - 26.10% p.a. Up to ₹25 lakh 3.5% - 4.75% + GST
Bank of Baroda 13.65% p.a. onwards Up to 100% on-road price 2% + GST
UCO Bank 9.25% p.a. onwards Up to ₹1 lakh 1% (min ₹500)
Bajaj Finance Up to 31% p.a. Up to 100% financing Up to 5% + GST
L&T Finance 6.99% p.a. onwards Up to 100% on-road 1% - 4% + GST

Interest Rate Factors:

  • Credit Score: CIBIL score above 750 gets lower rates (9.7%-12%)
  • Bike Type: Standard bikes (Hero, TVS) get better rates than premium/luxury bikes
  • Loan Amount: Higher loans may attract slightly higher interest
  • Tenure: Longer tenure (48-60 months) may have higher rates
  • Employment: Salaried individuals typically get 0.5-1% lower rates than self-employed
  • Down Payment: Higher down payment (20-30%) may reduce interest rate

Hero Bike EMI Calculator

Hero MotoCorp, India's largest two-wheeler manufacturer, offers financing through Hero FinCorp and partner banks with interest rates starting from 9.7% per annum:

Popular Hero Models EMI Calculation

Hero Splendor Plus EMI Calculation:

Ex-Showroom Price: ₹68,000

On-Road Price (Delhi): ₹76,000 (approx.)

Down Payment (15%): ₹11,400

Loan Amount: ₹64,600

Interest Rate: 10.5% p.a.

Tenure: 36 months

Monthly EMI: ₹2,092

Total Interest: ₹10,712

Total Payment: ₹75,312

Hero Glamour EMI Calculation:

On-Road Price: ₹90,000

Down Payment (15%): ₹13,500

Loan Amount: ₹76,500

Interest Rate: 10.5% p.a.

Tenure: 36 months

Monthly EMI: ₹2,476

Total Interest: ₹12,636

Total Payment: ₹89,136

Hero FinCorp Loan Features

  • Interest Rate: Starting from 10.65% p.a.
  • Loan Amount: Up to 90% of on-road price
  • Tenure: 12 to 60 months
  • Processing Fee: Nominal charges apply
  • Minimum Down Payment: 10-15% of bike cost
  • Approval: Quick approval within 24-48 hours

TVS Bike EMI Calculator

TVS Motor Company offers flexible financing options through TVS Credit and partner financial institutions with competitive interest rates:

Popular TVS Models EMI Calculation

TVS Apache RTR 160 4V EMI:

On-Road Price (Delhi): ₹1,35,000

Down Payment (15%): ₹20,250

Loan Amount: ₹1,14,750

Interest Rate: 9.7% p.a.

Tenure: 36 months

Monthly EMI: ₹3,680

Total Interest: ₹17,730

Total Payment: ₹1,32,480

TVS Sport EMI Calculation:

On-Road Price: ₹68,000

Down Payment (10%): ₹6,800

Loan Amount: ₹61,200

Interest Rate: 9.7% p.a.

Tenure: 36 months

Monthly EMI: ₹1,962

Total Interest: ₹9,432

Total Payment: ₹70,632

TVS Credit Financing Benefits

  • Interest Rates: Starting from 9.7% p.a. (among the lowest)
  • Down Payment: As low as 10% for select models
  • Tenure Options: Flexible 12, 24, 36, 48, or 60 months
  • Zero Processing Fee: Available on select schemes
  • Documentation: Minimal paperwork with quick disbursal
  • Insurance: Optional bike insurance included in EMI

Factors Affecting Bike Loan EMI

1. Loan Amount (Principal)

Higher loan amount = higher EMI. Increase down payment to reduce loan amount and monthly EMI burden.

2. Interest Rate

Lower interest rate significantly reduces total cost. A difference of 2% can save thousands over loan tenure.

3. Loan Tenure

Longer tenure = lower EMI but higher total interest. Shorter tenure = higher EMI but lower overall cost.

4. Down Payment

Higher down payment (20-30%) reduces loan amount, EMI, interest, and may qualify you for better rates.

5. Credit Score (CIBIL)

CIBIL score above 750 gets best rates. Score below 650 may result in rejection or very high rates (20%+).

How to Reduce Bike Loan EMI

Increase Down Payment

Pay 20-30% upfront instead of minimum 10-15%. This reduces loan amount significantly.

Choose Longer Tenure

Extend tenure from 36 to 48 or 60 months to reduce monthly EMI (but increases total interest).

Negotiate Interest Rate

Compare rates across banks, negotiate with good CIBIL score, or opt for festive season offers.

Opt for Used Bike

Used bikes cost 30-50% less than new ones, reducing both loan amount and EMI significantly.

Consider Balance Transfer

If rates drop, transfer existing loan to new lender with lower interest rate (subject to charges).

Frequently Asked Questions

How is bike EMI calculated?
Bike EMI is calculated using the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N - 1], where P = loan amount (bike price - down payment), R = monthly interest rate (annual rate/12/100), N = tenure in months. Example: For ₹85,000 loan at 10.5% for 36 months: R = 10.5/12/100 = 0.00875, EMI = [85000×0.00875×(1.00875)^36]/[(1.00875)^36-1] = ₹2,753. Total payment = ₹2,753×36 = ₹99,108. Total interest = ₹99,108-₹85,000 = ₹14,108. Use online bike EMI calculators for instant results.
What is the minimum down payment for bike loan?
Minimum down payment for bike loans is typically 10-15% of the on-road price. Most banks require: 10% for bikes under ₹1 lakh, 15% for bikes ₹1-2 lakh, 20% for premium bikes above ₹2 lakh. Some NBFCs offer 5% down payment or zero down payment for select models during promotional schemes. Higher down payment (20-30%) benefits: lower EMI, reduced loan amount, less interest burden, better interest rate negotiation, faster approval. Example: On ₹1,00,000 bike, 10% down = ₹10,000, loan = ₹90,000, EMI ≈ ₹2,913. With 20% down = ₹20,000, loan = ₹80,000, EMI ≈ ₹2,589 (saves ₹324/month).
What is the interest rate for Hero bike loan?
Hero bike loan interest rates range from 9.7% to 15% per annum depending on lender, credit score, and loan amount. Hero FinCorp: Starting 10.65% p.a. for salaried, 11-13% for self-employed. Banks: SBI 12.60%+, HDFC 14.50%+, ICICI 10.25-26%. Rate factors: CIBIL score 750+ gets 9.7-11%, 650-749 gets 12-15%, below 650 gets 16-20% or rejection. Tenure: 36 months gets lower rates than 60 months. Down payment: 20%+ may reduce rate by 0.5-1%. Employment: Salaried gets 0.5% lower than self-employed. Always compare multiple lenders and negotiate for best rates.
Can I get bike loan with 20000 salary?
Yes, you can get a bike loan with ₹20,000 monthly salary. Most lenders require minimum ₹10,000-₹15,000 monthly income. With ₹20,000 salary, eligible loan calculation: Maximum EMI = 30-40% of income = ₹6,000-₹8,000. At 10.5% for 36 months, ₹6,000 EMI = ₹1,85,000 loan. At ₹8,000 EMI = ₹2,47,000 loan. This allows bikes priced: ₹2.00 lakh to ₹2.60 lakh on-road (with 15% down payment). Affordable options: Hero Splendor (₹76K), TVS Sport (₹68K), Bajaj CT (₹65K), Honda Shine (₹85K). Requirements: 6 months employment, CIBIL 650+, age 21-60 years, valid documents. Self-employed need ₹25,000+ monthly income typically.
What is the maximum tenure for bike loan?
Maximum tenure for bike loans is 60 months (5 years), though most banks offer up to 36-48 months. Common tenures: 12 months (high EMI, low interest), 24 months (moderate EMI), 36 months (most popular, balanced), 48 months (lower EMI, higher interest), 60 months (lowest EMI, highest total interest). Example on ₹1,00,000 loan at 10.5%: 12 months = ₹8,793 EMI, 24 months = ₹4,656 EMI, 36 months = ₹3,236 EMI, 48 months = ₹2,560 EMI, 60 months = ₹2,147 EMI. Longer tenure pros: affordable monthly payment, better budget management. Cons: higher total interest, longer debt commitment. Choose tenure based on income stability and desire to minimize interest cost.
Is bike loan interest tax deductible?
No, bike loan interest is NOT tax deductible for personal use under Indian Income Tax Act. Tax benefits apply ONLY if bike used for business purposes: Self-employed/Business: Can claim depreciation (15% on bike cost) and interest as business expense under Section 37. Salaried employees: Cannot claim tax benefit even if bike used for office commute. Not applicable: Personal loans converted to bike purchase cannot claim deductions. Home and education loan interest is deductible, but vehicle loans are not unless for business. To claim: Maintain proper records, declare in ITR as business asset, show business income, get CA certification. Most individuals buying bikes for personal/commute use get no tax benefit on EMI or interest paid.
Can I prepay my bike loan?
Yes, most bike loans allow prepayment/foreclosure, but charges may apply. Prepayment rules: Banks: Usually NIL charges for floating rate loans, 2-5% for fixed rate. NBFCs: May charge 2-5% of outstanding principal. Minimum amount: Typically ₹5,000 to ₹10,000 per prepayment. Lock-in: Some lenders restrict prepayment in first 3-6 EMIs. Benefits: Reduces total interest, shortens tenure, debt-free faster, improves credit score. Example: ₹1,00,000 loan at 10.5% for 36 months, EMI ₹3,236. After 12 EMIs, outstanding ₹69,583. Prepay ₹20,000: saves ₹3,180 interest, loan closes 6 months early. Best strategy: Prepay in initial years when interest component is highest. Check loan agreement for specific terms before prepaying.

Documents Required for Bike Loan

For Salaried Individuals

  • Identity Proof: Aadhaar Card, PAN Card, Passport, Voter ID
  • Address Proof: Aadhaar, Utility bills, Rental agreement, Passport
  • Income Proof: Last 3 months salary slips, 6 months bank statement
  • Employment Proof: Appointment letter, Employee ID card
  • Age Proof: Birth certificate, Aadhaar, Passport (21-60 years)
  • Photographs: 2 passport-size recent photos

For Self-Employed

  • Business Proof: Business registration, GST certificate, Shop license
  • Income Proof: Last 2 years ITR with computation, 6-12 months bank statements
  • Financial Documents: Audited balance sheet, P&L statement
  • Other Documents: Same identity, address, age proof as salaried

Bike Loan Eligibility Criteria

Age Requirements

  • Minimum Age: 21 years (some lenders allow 18 with co-applicant)
  • Maximum Age: 60 years at loan maturity (65 for government employees)

Income Requirements

  • Salaried: Minimum ₹10,000-₹15,000 per month net income
  • Self-Employed: Minimum ₹15,000-₹25,000 monthly income with ITR
  • Business Continuity: Minimum 2-3 years for self-employed

Credit Score

  • Excellent (750+): Best rates, quick approval, high loan amount
  • Good (650-749): Moderate rates, standard processing
  • Fair (600-649): Higher rates, stricter verification, lower amount
  • Poor (<600): Very high rates (20%+), or rejection, may need guarantor

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