two wheelwr loan interest

When you’re looking for a bike loan, it can be hard to know where to begin. The right bike loan can help you get the freedom, fun, and fitness that you deserve.

But what if your bike needs a little bit of work? What if you don’t have the means to fix it yourself? No problem! We’re here to help you find the perfect bike loan program.

At hero fincorp, we understand that bikes are an essential part of any active lifestyle. That’s why our team has created two wheeler interest loans that are specifically designed for people who ride their bikes for fun and fitness—and for those who might need a little extra help keeping their wheels turning in the first place.

Whether you’re looking for a new set of wheels or just want some extra cash on hand, we’ve got a loan option that’s right for you!

Calculate interest on bike loan

There are mainly two ways to calculate your EMI on your bike loan;

Using the mathematical formula

Want to calculate bike loan EMI manually? No problem!

The math needed to compute the interest rate on a bike loan is actually pretty simple. First, you’ll need to know how much principal amount you are taking out. Use this formula:

E = [P x R x (1+R)^N]/[(1+R)^N-1] where,

E is the EMI

P is the Principal Loan Amount

R is the Rate of Intrest

Using the automatic calculator

The bike EMI calculator is a simple tool that will calculate your bike loan EMI, based on three strings of data: the principal amount, the rate of interest on the loan, and the loan tenure.

First step: In the bike loan calculator, put the loan amount in the very first box. Although we highly recommend first checking out your loan eligibility and seeing how much loan you can avail yourself of on the bike that you want to buy.

Second step: In the next box, enter the interest amount. The interest amount will be disclosed to you once you ask for a free quotation at hero fin corp. Sometimes these loan interest rates are fixed and other times they are calculated using the compound method. Availing of a compound method interest rate actually saves you a burning hole in your pocket.

Third step: Submit your loan tenure in the third box and click on ‘Calculate’. This will enable the automatic programming in the calculator and the results will be shown to you instantly.

Having trouble finding a good bike EMI calculator? Consider Hero Bike EMI Calculator, in seconds you will be given an exact value based on your inputs.

External elements affecting two wheeler loan rate of interest

The external elements that affect the two wheeler loan interest rate are credit history, income, age and bike model. These elements play a major role in determining your interest rate for a two wheeler loan.

Your credit history is one of the most important factors for determining your bike loan interest rate. The risk associated with your profile is assessed by reviewing your credit report, which represents your previous and current EMI payment pattern. To get a low interest rate for a bike loan, you must have a strong credit history.

Income plays an even more important role in establishing the interest rate on a two wheeler loan. As a high income indicates a lower risk of default, it might help you get the lowest rate of interest on a bike loan.

Age also plays an important role in determining your earning potential and thus, the interest rate of your bike loan. Young working individuals may be able to get a low interest rate as compared to older or retired from work individuals who may not have the same earning potentials as those young working professionals.

Bike model also has an impact on determining how much you pay for your bike loan but not necessarily how much you can afford to pay for it as well as its resale

The eligibility situation and documentation process have slight difference for salaried and self-employed individuals, the two wheeler loan interest rate may vary depending upon your current employment status. Moreover, the interest rates are also dependent on your current employer’s reputation and the type of your business.

If you have taken a loan from hero fincorp in the past and have made all of your EMI payments on time, we may offer you a low-interest rate two-wheeler loan.

How to maximise your chances of getting a low rate of interest on two wheeler loan

One of the most important factors in getting a low interest rate on a two-wheeler loan is being able to increase the down payment amount.

If your lender considers your profile risky, they will charge you with a higher two wheeler loan rate of interest. However, If you find a way to increase the down payment amount then you may get a low two wheeler loan interest rate.

To improve your credit history and get the best interest rate for your two-wheeler loan, make sure you have a strong credit history. If you have skipped EMI payments or previous loan defaults on your credit report, it will make it difficult for you to qualify for a new loan at a good rate of interest.

If you have a good relationship with your lender, applying for a bike loan with them may help you to get the cheapest two-wheeler loan rate of interest.

Negotiation is another way to get lower rates on a bike loan. If you meet the required loan eligibility criteria and have a strong profile, it is possible to bargain for a two-wheeler loan with the lowest interest rate with the lender in order to save money on interest payments.


A wheeler loan interest rate is a different story. The interest rate depends on the type of loan and the amount. It is important to know that there are different types of wheeler loans, so it is advisable to do a comparison before going for any loan.