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How a Two-Wheeler Loan Calculator Can Help You Make Better Borrowing Decisions

India is the largest two-wheeler market in the world; there is no dearth of options for you to choose from. However, the finances may not be in your favour all the time for your dream motorcycle. Now, in such cases, you don’t need to worry about the funds, as financial institutions across the country are offering Two-wheeler Loans against favourable terms. This financial product will provide the funds needed to get the motorcycle you want, depending on your requirement and eligibility.

Having said that, taking up any debt is a serious responsibility, and you need to prepare for it. Access to a Two-Wheeler Loan calculator will help you in this process.

Know how a Two-Wheeler loan calculator can help you make the best borrowing decision

Here are some reasons why you should use an online financial tool like this to make your borrowing decision –

●       It offers the quick and correct results

Whenever you are planning to take up credit, be it in any form, you need to make the best decision. Otherwise, it will soon turn into a burden. The same applies to a Two-Wheeler loan as well.

To avoid this, an online calculator can be of great help. It offers swift and accurate results against all the information you provide. Therefore, depending on this result, you can then make a borrowing decision which is less likely to go wrong.

However, a question here is, you can complete this calculation manually as well, but there is always room for human error, and it will take a lot more time.

●       Endless customisation

The ability to customise your inputs and find the right loan offer is another benefit. Now, with a Two-wheeler Loan calculator, you can access this facility. These online financial tools enable you to provide multiple inputs till you find the result you are looking for. So, you can now get the exact loan amount and tenure that keeps the instalment in your budget.

Usually, there is a slider in most of the calculators, which you can move forward or backwards to change the loan amount, interest rate and tenure. Otherwise, you can always enter the exact figures to find the EMI that meets your suitability.

So, no more loan applications based on assumptions.

●       Access to the loan amortisation schedule

Access to the loan amortisation schedule is another reason for using an online motorcycle loan calculator. This will help you understand your loan better and plan your finances accordingly.

If you do not know what a loan amortisation schedule is, it is a detailed breakup of the loan you are about to take. This table shows how the loan progresses throughout the tenure. Here, you will see how much of your EMI goes towards interest payment and principal repayment.

One of the major advantages of access to this schedule is that it helps you plan your part payment. Since you will be paying the loan interest in the initial years of your loan, it is better to prepay in that period to lower your total debt and save more on repayment.

●       Compare multiple loan offers

There are three key components to any loan, principal amount, tenure and loan interest rate. However, the particulars under each header will change as you shift from one lender to another.

Therefore, it is essential to compare loan offers to find the one that will meet your requirements and make an informed borrowing decision.

This is where the online motorcycle loan calculator comes to your rescue. With this financial tool, you can now enter the loan offers from multiple lenders and check the one that meets your requirements.

These are some ways a Two-Wheeler Loan calculator can help you make the best borrowing decisions. But, the benefits of this online tool do not end here. Here are two more advantages of using it while making a borrowing decision.

●       Easy to use

The biggest advantage of this financial tool is that it is easy to use. You can simply visit the website where it is available, enter the loan details and find EMI in seconds. Moreover, the user interface of most calculators is easy to navigate, which further increases their popularity.

●       Does not cost a penny

Using an online financial device like this will not cost you a penny. Typically, these calculators are readily available on the website of every financial institution for you to use and make a decision.

Moving ahead, using an online loan calculator alone cannot help you make the best borrowing decision. It certainly contributes, but you need to keep a few more pointers in mind besides the EMIs to ensure you have made an informed decision.

Three factors to keep in mind before borrowing

Here are some factors that you must keep in mind while applying for a loan –

  1. Eligibility and documentation: Noting them and being prepared will help you avoid unnecessary delays in your loan application.
  2. Additional charges: Keeping a tab of these is imperative as you will be able to keep the total cost of the loan low by knowing what steps you need to take to avoid fines or penalties, like for prepayments etc.
  3. Check the terms of foreclosure: Being updated about it is essential as you will be able to time it right and close your loan ahead of schedule to maximise your savings.

Parting thoughts

Finally, owning the motorcycle you always wanted is a feeling that is hard to describe, and a Two-Wheeler Loan helps you to achieve that. However, if not planned properly, this can soon turn into a financial nightmare. So, take the help of online calculators and make the best possible borrowing decision.

And, if you are looking for a reliable partner in this journey, then there is no one better than Hero FinCorp. You can now get the Best Two-Wheeler Loans in the market against an affordable interest rate.


  1. What is the LTV of a motorcycle loan from Hero FinCorp?

The LTV of a motorcycle loan from Hero FinCorp is up to 95%.

  1. What is the highest loan amount I can borrow to get a two-wheeler from Hero FinCorp?

The highest loan amount you can get from Hero FinCorp to purchase a Two-Wheeler is Rs 1 lakh.

  1. Is it possible to get a loan with a credit score of below 500 from Hero FinCorp?

No, with a credit score below 500, you cannot get a Two-Wheeler loan from Hero FinCorp.

  1. What is the maximum loan tenure of a two-wheeler loan from Hero FinCorp?

The maximum tenure of a two-wheeler loan from Hero FinCorp is 36 months.

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