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What is the rate of interest for EMI in bike?
How does Two-Wheeler Loan EMI Calculator work?
Loan amount (Rs.) | Interest rate (Mean) | EMI for 3 years (Rs.) |
---|---|---|
50,000 | 11.10\% | 1,639 |
1 Lakh | 11.10\% | 3,279 |
2 Lakh | 11.10\% | 6,557 |
3 Lakh | 11.10\% | 9,836 |
What happens if I dont pay my EMI on bike?
If you fail to make the EMI payment before the due date, you first get a notice and have to give late payment charges. Upon continued failure to pay or acknowledge the notice, you will be considered to have defaulted on repaying the loan. If not then you will be slapped with EMI bounce charges and bank charges.
Is it better to pay EMI on a bike or credit card?
While paying EMI through credit card may seem time-saving, but bike finance proves to be more useful in other terms. Bike loans have a lower rate of interest when compared to credit card. They also have lower penalties and charges.
Is it better to get a bike loan or credit card?
Bike loans have a lower rate of interest when compared to credit card. They also have lower penalties and charges. One of the best reasons why one should go for a bike loan is as it increases the CIBIL score of an individual (as long as the EMIs are paid on time).
Is credit card EMI good for bad credit?
Credit card EMI is best when you need immediate fund or unable to seek funding through loans from banks. However, it comes with higher rate of interest and defaults can be costlier. Finance is a good option when you want to enjoy low interest rate and flexible tenure. Additional Reading: How Can You Get a Two-Wheeler Loan with Bad Credit?
What are the benefits of a bike loan from Bajaj Auto Finance?
Bajaj Auto Finance Bike loans are offered at attractive interest rates and lowcost EMIs make it easier to repay the loan. A small portion of the loan can be paid in the form of initial down payment thus reducing the financial burden of the borrower. Repayment tenure can extend up to five years which results in lower EMIs every month.