Tag Archives: SBI Two Wheeler Loan eligibity

SBI Two wheeler Loan EMI Calculator for Calculate Loan EMI Online 2019

(Updated on 08.01.19) SBI Two Wheeler Loans and EMI Calculator January 2019 – Calculate 2 Wheeler loans EMI with SBI loan Calculator Online & Get total interest paid, flat interest rates, total amount you have to pay in your tenure & Monthly details.

SBI provide the best Two- Wheeler loan scheme for you to take a loan for purchase of new Two- Wheeler.

GET INSTANT TWO WHEELER LOAN APPROVAL ONLINE

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EMI Calculation

Just by entering the following inputs in the EMI calculator, you will get an indicative amount of EMI:

  1. Intended loan amount in INR
  2. Number of years you wish to pay in months or year.
  3. Interest rate, which you have opted for bike loan in percent

By entering these values, you can get an indicative amount of your EMI. For an example, a loan amount of Rs. 1,00,000@interest rate of 17.60% per annum for the period of 36 months (3 Years) would indicate an EMI of Rs. 3595.21 per month.

The formula for EMI (in arrears) is:

Where E is EMI, P is Principal Loan Amount, r is rate of interest calculated on monthly basis. (i.e., r = Rate of Annual interest/12/100. If rate of interest is 10.25% per annum, then r = 10.25/12/100=0.00854)  n is loan term / tenure / duration in number of months

SBI Two Wheeler Loan EMI Calculator

 SBI Two Wheeler Loan EMI Calculator

Fill Loan Amount, Interest rate & Tenure in Fields & get Instant Calculation for Bike loan emi within seconds.
Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Flat Interest Rate PA
Flat Interest Rate PM
Total Interest Amount
Yearly Interest Amount

If a customer opting for two wheeler loan amount ₹ 1,00,000, interest rate offered by State Bank of India is 17.60% for 3 year (36 months). Now you should have to check what will be your loan emi & how much amount you will pay including principal & interest.

Loan Amount Tenure Interest Rate Loan EMI
₹1,00,000.00 36 months (3 years) 17.60% Rs.3595.21

YEARLY & MONTHLY CALCULATED VALUES FOR TWO WHEELER LOAN AMOUNT OF Rs. 1,00,000 @ INTEREST RATE OF 17.60% FOR 3 YEARS

Year Principal Amount (X) Interest Amount (Y) Principal & Interest Amount (X+Y) Outstanding Amount
2016 ₹ 27,434 ₹ 16,251 ₹ 43,684 ₹ 72,566
January ₹ 2,099 ₹ 1,542 ₹ 3,640 ₹ 97,901
February ₹ 2,131 ₹ 1,509 ₹ 3,640 ₹ 95,770
March ₹ 2,164 ₹ 1,476 ₹ 3,640 ₹ 93,606
April ₹ 2,197 ₹ 1,443 ₹ 3,640 ₹ 91,409
May ₹ 2,231 ₹ 1,409 ₹ 3,640 ₹ 89,178
June ₹ 2,266 ₹ 1,375 ₹ 3,640 ₹ 86,912
July ₹ 2,300 ₹ 1,340 ₹ 3,640 ₹ 84,612
August ₹ 2,336 ₹ 1,304 ₹ 3,640 ₹ 82,276
September ₹ 2,372 ₹ 1,268 ₹ 3,640 ₹ 79,904
October ₹ 2,409 ₹ 1,232 ₹ 3,640 ₹ 77,495
November ₹ 2,446 ₹ 1,195 ₹ 3,640 ₹ 75,050
December ₹ 2,483 ₹ 1,157 ₹ 3,640 ₹ 72,566
2017 ₹ 32,962 ₹ 10,722 ₹ 43,684 ₹ 39,605
January ₹ 2,522 ₹ 1,119 ₹ 3,640 ₹ 70,045
February ₹ 2,561 ₹ 1,080 ₹ 3,640 ₹ 67,484
March ₹ 2,600 ₹ 1,040 ₹ 3,640 ₹ 64,884
April ₹ 2,640 ₹ 1,000 ₹ 3,640 ₹ 62,244
May ₹ 2,681 ₹ 960 ₹ 3,640 ₹ 59,563
June ₹ 2,722 ₹ 918 ₹ 3,640 ₹ 56,841
July ₹ 2,764 ₹ 876 ₹ 3,640 ₹ 54,077
August ₹ 2,807 ₹ 834 ₹ 3,640 ₹ 51,271
September ₹ 2,850 ₹ 790 ₹ 3,640 ₹ 48,421
October ₹ 2,894 ₹ 746 ₹ 3,640 ₹ 45,527
November ₹ 2,938 ₹ 702 ₹ 3,640 ₹ 42,588
December ₹ 2,984 ₹ 657 ₹ 3,640 ₹ 39,605
2018 ₹ 39,605 ₹ 4,080 ₹ 43,684 ₹ 0
January ₹ 3,030 ₹ 611 ₹ 3,640 ₹ 36,575
February ₹ 3,077 ₹ 564 ₹ 3,640 ₹ 33,498
March ₹ 3,124 ₹ 516 ₹ 3,640 ₹ 30,374
April ₹ 3,172 ₹ 468 ₹ 3,640 ₹ 27,202
May ₹ 3,221 ₹ 419 ₹ 3,640 ₹ 23,981
June ₹ 3,271 ₹ 370 ₹ 3,640 ₹ 20,710
July ₹ 3,321 ₹ 319 ₹ 3,640 ₹ 17,389
August ₹ 3,372 ₹ 268 ₹ 3,640 ₹ 14,017
September ₹ 3,424 ₹ 216 ₹ 3,640 ₹ 10,593
October ₹ 3,477 ₹ 163 ₹ 3,640 ₹ 7,116
November ₹ 3,531 ₹ 110 ₹ 3,640 ₹ 3,585
December ₹ 3,585 ₹ 55 ₹ 3,640 ₹ 0

SBI offers 2 Wheeler loans/ Bike loans with added advantages

  • No Advance EMI
  • Lower interest rates Lowest EMI
  • LTV 85% of ‘On Road Price’ of vehicle
  • Interest Calculated on Daily Reducing  Balance
  • Flexibility of payment of EMI anytime during the month
  • Low processing fee (only 1.22% of loan amount)
  • Free Accidental insurance
  • Optional SBI Life cover