Ujjivan SFB two-wheeler loan offers financing up to 95% of the on-road price of the vehicle at competitive rates and with flexible repayment tenure up to 48 months. Want to know the EMI on your two-wheeler loan? Use our Two-Wheeler Loan EMI Calculator to know your EMI obligations in few seconds. Calculate your loan EMI beforehand to plan your finances better.
Our two-wheeler EMI calculator is extremely easy to use and features a user-friendly interface. All you need to do is enter the amount, tenure and applicable interest rate. Alternatively, you can drag the slide bar to select the parameters.
Two-wheeler loan EMI calculation formula is:
EMI = principal amount + interest paid
Mathematically: P x R x (1+R) ^N / [(1+R) ^N-1] where
P = Principal amount of the loan
R = Rate of interest
N = Tenure in months
However, manual calculations can be extremely time consuming may leave room for errors. To quickly calculate your two-wheeler loan EMI, use our EMI calculator.
Follow these steps to pay your loan EMI:
Visit ujjivansfb.in
Go to the menu section and select ‘Loan Repayment’
Enter your Loan Account number
Follow the instructions to complete your payment.
Alternatively, you can set up standing instructions if you have a salary or savings account with Ujjivan SFB. Your EMI will automatically be debited on the specified date every month.
Some of the advantages are:
Know your EMI in advance for better financial planning
Quick results with minimal errors
Simple and user-friendly design
Failing to make EMI payments can have serious consequences and may lead to credit score damage, late payment charges and legal action.
Some of the factors that may impact your two-wheeler loan EMI are:
Loan amount: The principal amount can significantly impact your loan EMI. A big-ticket loan translates to higher EMIs.
Interest rate: This is the cost of borrowing your money. A higher interest rate leads to higher EMIs.
Tenure: When you take a loan, you have the option to select your loan tenure. A longer tenure translates to lower EMIs. However, for long-term loans, you end up paying more towards the interest, increasing the overall cost of the loan. For shorter tenures, though your EMI will be on the higher bracket, you end up paying less towards the interest.
Loan prepayment: If you make partial payments towards your loan, your EMI may come down.
For a better understanding, use our two-wheeler loan EMI calculator to compare EMIs.
