What is the interest rate for bike loan in Axis Bank?
What is the interest rate for bike loan in Axis Bank?
For Loans with tenure up to 36 months
| 1 Yr MCLR | Spread over MCLR | Effective ROI |
|---|---|---|
| 7.75% | 7.25%-15.25% | 15.00%-23.00% |
What is the interest rate for two-wheeler loan?
Two-Wheeler Loan Interest Rates 2022
| Bank | Interest Rate | Loan Amount |
|---|---|---|
| State Bank of India | 16.35% to 18.10% p.a. | Rs.20,000 to Rs.25 lakh |
| HDFC Bank | 14.50% p.a. onwards | Contact the bank |
| Punjab National Bank | 9.05% p.a. onwards | Up to Rs.10 lakh |
| Union Bank of India | 10.30% onwards | Up to Rs.10 lakh |
Which bank has lowest interest rate on bike loan?
Two Wheeler Loan Interest Rate in India
| Bank | Two Wheeler Loan Interest Rates* | Lowest EMI per ₹ 10 Thousand for Max Tenure |
|---|---|---|
| SBI | 16.35% | ₹ 353 for 3 years |
| HDFC Bank | 8.50% | ₹ 246 for 4 years |
| PNB | 9.50% | ₹ 210 for 5 years |
| Bajaj Auto Finance | 11.60% | ₹ 330 for 3 years |
Which is the best two-wheeler loan?
Best Two Wheeler Loan Providers in India Based on Interest Rates
| Bank/NBFC | Interest Rate Per Annum |
|---|---|
| Bajaj Auto Finance | 11.60% onwards |
| Karnataka Bank | 12.45% onwards |
| HDFC Bank | 14.50% onwards |
| State Bank of India (SBI) | 16.25% onwards |
What is a two wheeler loan?
A two wheeler loan helps you purchase a motorcycle or a scooter of your choice, and pay for it in equated monthly instalments (EMIs). Our loans are available for both salaried and self-employed individuals.
How can I check my Axis Bank two wheeler loan status?
You will get loan statement at your registered email id. In case your email id is not registered, please contact phone banking on 1860 419 5555 (*Call Charges Apply).
How is EMI calculated for bike?
Stated below are the two methods for calculating bike loan EMI: Manual calculation using a formula: The EMI value is calculated using the formula P x R x [(1 + R) N / ((1 + R) N – 1]. P denotes the loan’s principal amount, R denotes the relevant rate of interest, and N denotes the loan’s duration in months.
What is a good interest rate on a motorcycle?
For street motorcycles, rates range from 3.75% to 4.50%; its lowest advertised rates include 0.50% discount for automatic payments and making payments from a DCU checking account. Off-road motorcycles have higher interest rates, with rates ranging from 8.10% to 8.60%.
What is a good interest rate for a motorcycle?
How is EMI calculated on bike?
Bike Loan EMI Calculation Formula EMI = [P x R x (1+R)^N]/[(1+R)^N-1], P stands for the loan amount or principal, R is the interest rate per month and N is the number of monthly installments. Input necessary information such as the capital amount, rate of interest, and the tenor in months.
Can we get 100% bike loan?
You can get up to 100% of the bike’s value as a loan, making it easier to own a bike if you can not afford to make the initial down payment. The two-wheeler loan interest rates start from as low as 11.20%*. You can choose an interest rate based on your needs. However, you must have a higher repayment capacity.
What is pre EMI in Axis Bank?
Pre-EMI interest is the interest on the loan amount disbursed by the bank. It is payable every month from the initial date of disbursement until the commencement of the EMI payments.
