What are some of the factors that determine the overall EMI of the bike loan?

While a bike loan EMI calculator helps you get an estimate of the EMI, the final EMI offered by the bank or the lender may differ based on several criteria. Let’s take a look at what the criteria includes:

The down payment made: As you may know, the lender only pays for a certain amount of the total cost of the bike. The rest would have to be paid by you in the form of down payment. If you choose to pay a higher down payment, the EMI you incur would be considerably lesser.  

Your credit worthiness: If you have a good, stable credit history, your credit worthiness increases and the lenders areis more willing to trust you with the repayment of the bike loan. This leads to a lower interest rate and thus, a lower EMI. 

Job stability: Lenders are more trustful of salaried employees whose income is regular and stable.