How to Calculate Two-Wheeler Loan EMI?

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• How to Calculate Two-wheeler Loan EMI?

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• Why Take a Two-Wheeler Loan?
• Affordable and quickly approved
• Online application possible
• Repayment flexible
• EMI calculator available online to plan budget
  better

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• EMI Calculator What is it?
• Helps figure out what you must pay monthly and
  for how long
• Helps choose the ideal tenure, so that the EMI is
  affordable

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• The Working of an EMI Calculator
• Enter the amount (of loan you want)
• Enter the rate (charged by the lender)
• Enter the tenure (duration of loan repayment)
• EMI is high when loan amount or interest is high.
  EMI is low if tenure is long.

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• Alternative Way to Calculate EMI
• Use the formula - EMI P x R x
  (1R)N/(1R)N-1
• P Principal, R Rate of Interest, N Tenure
• Using an online calculator is easier as you just
  have to tweak variables to get the right EMI

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• Factors That Impact Interest Rate (R)
• Age
• Income
• Credit score
• Tenure
• Current liabilities

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• Why Use an EMI Calculator For Two-Wheeler Loan?
• Helps plan monthly finances and minimises risk of
  default
• Tells if you can afford your preferred bike or a
  loan
• Calculates different EMI probabilities fast and
  accurately
• These are free and can be used on any device

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• Conclusion
• Know your EMI and test your affordability before
  taking a two wheeler loan. Use an online EMI
  calculator.

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• Hero FinCorp Limited
• 09, Basant Lok, Vasant Vihar, New Delhi - 110057
• Tel. [phone]
• Email Id customer.care_at_herofincorp.com
• Website https//www.herofincorp.com/
• Know more- How to Calculate Two-wheeler Loan EMI?