How to check Bike installment – The meaning of EMI is very simple and simple. EMI means that the money taken in installments has to be deposited. Like you take a loan from a bank or institution or buy an item from a showroom. So you have to pay the money taken for that or that goods back to them as EMI. If you have also taken any item or bike on EMI and you want to know that how to check bike installment then you have come to the right place.
Whether to buy a house or any vehicle, for this we need to take a loan from the bank. Nowadays most of the banks provide different types of loans according to the work of the person. If you have also taken a loan from the bank and you also want to know that How to do EMI, then read this post of ours carefully. Because in this article we are going to give you complete information about what is EMI, how to check EMI etc.
We often get such questions from users that How to check Bike installment so we thought why not you through this article? should be told about this. If you want to know that How to check Bike installment then in this article we will provide you complete information about it.
It is a monthly installment. The loan EMI depends on three major factors: loan amount, interest rate, and loan tenure. Suppose you have taken a loan of Rs 5,00,000 from a bank for 24 months and the interest rate of that bank is 10%, then now the monthly installment of your loan of 5,00,000 will come out to be Rs 20,833 and on this the bank’s monthly installment will be Rs. 2,238 interest will be charged. Due to which now the monthly installment of your loan will come to Rs 23,072, which you will have to pay for 24 months. You will find many websites on the internet to understand EMI calculation formula.
What is EMI?
EMI means the installments being paid equally. If you take a loan from the bank, then the bank gives you all the money in one go. Or if you are taking any goods, then you give full money for it. But you do not have to give all this money to the bank at once. For your convenience, the bank divides this money into installments by adding its interest. You just have to pay those installments every month. Due to which the loan money taken by you gradually gets exhausted. In case of non-payment of personal loan, home loan or bike loan, you may have to pay a balance, so pay your installments on time, so that you do not suffer any loss.
EMI Full Form
Full name of EMI or EMI Ka Full Form ‘Equated Monthly Installment’ it happens. EMI full form in Hindi ‘monthly installment’ it happens.
If you want to know how to check online car loan or Bike Ka EMI Kaise Check Kare, then let’s know about it with examples.
how to check bike installment
Two ways to calculate EMI:
1. Calculate EMI from website
Internet But you will find many websites which will help you to add your monthly loan EMI. All you have to do is search by typing bike loan EMI calculator on the internet. Many results will show in front of you, select any one website from there and click on it. You Website You can calculate your bike loan installment by using the scale or text box on the page.
2. Calculate EMI by yourself
eg. Ram takes a loan of Rs 1 lakh at 8% per annum interest which is to be paid back in 3 years. According to this fixed rate method, Ram will pay interest on the total loan amount of Rs 1 lakh.
The formula to calculate EMI using a fixed rate method would be:
EMI = (Principal + Interest) / Tenure in Months
So the calculation would be:
Interest for one year=8/100 x 100000=8000
Interest for three years=8000×3=24000
EMI = (100000 + 24000) / 36 = Rs 3444.44 (per month)
How to get Bike on EMI
If you are looking for a bike on EMI, then this is not a difficult task. For this you just need some important documents and some money. Next we are going to give you information about getting a bike. In the same way you can also take car and scooty.
First of all, you have to visit the bike showroom of your city. There you will see many bikes, you have to choose the bike of your choice. After that you will find many agents there. If you go and meet him, he will give you all the information about the bike and all the information about getting the bike on EMI.
If you want to take a bike, then he will ask you for some documents, such as identity card, address proof, bank information, bank cheque etc. Now after some process you will have to pay some down payment for the bike. After some time you will be given the bike of your choice on EMI. So in this way you can easily buy a bike on EMI from any bike showroom in any city.
How to take EMI on Home
If you want to build your house by taking home loan, then for this you should have the necessary information related to home loan. If you do not know about it, then do not worry, complete information has been given about it further.
For home loan, you need to have some documents like- Voter ID or aadhar cardaddress proof, pan cardIncome Certificate (how to get income certificate), 6 months old bank account, bank statement, passport photo, plot registry (How is the registration done?) and Guava etc. Now find out the interest rate of whichever bank you want to take a home loan from, because the interest rate of every bank is different. Generally this interest rate ranges from 8.30% to 13.50%.
Now you have to apply for home loan in the bank by taking all your documents. This process takes some time. In which the bank checks your property and then passes your home loan on the same basis. On giving a home loan, the bank keeps your plot registry with itself for security. So in this way you can build your house on EMI and for more details contact the bank near you.
How to Check EMI?
To calculate and calculate EMI, first you have to open Emicalculator.Net website in your phone or computer. In this website, you will see three options, such as home loan, personal loan and car loan, you can calculate the type of loan you are taking from here. We will tell you by calculating a personal loan, so let’s know
After the EMI calculator website is opened, select the tab with Personal Loan.
- Personal Loan Amount – In this, you have to enter the amount of the loan amount you have taken.
- Interest Rate – In this, you have to fill the interest rate of the bank.
- Loan Tenure – Here you have to enter the tenure of your loan.
As soon as you enter all this information, you will get information about Loan EMI, Total Interest Payable and Total Payment in the graph below, like-
Example: Personal Loan
- Personal Loan Amount – 3,50,000
- Interest Rate – 7.5
- Loan Tenure – 3 Years
So now you have to pay the loan EMI of Rs 10,887 per month in which the total interest will be Rs 41,938 and now you have to pay a total of Rs 3,91,938 including principal and interest.
What is EMI payment
We have given you information about taking loan on EMI. Now it comes to how to pay the EMI after taking the loan. So there are mainly two ways for this. Whose complete information we are giving you below.
online emi payment
In this method, signed checks are taken from you while giving you the loan or else your Debit Card / Credit Card information is taken. Due to which the EMI of your loan is deducted from your bank account every month.
offline emi payment
The EMI of the loan taken by you in the offline method is given by the bank or the institution from which you have taken the loan. You have to go there and deposit the EMI money every month or an agent of the institution from where you have taken the loan can come to you and take the EMI of every month.
EMI is a process with the help of which you can take a large amount as a loan from a bank or any other institution and complete your important work and return that large amount gradually as EMI. can. This process is very beneficial and useful for common people because due to this they are able to fulfill their dreams.
So friends this was About Bike EMI Hope you liked this information. In today’s article, we made you aware of all the important information like . If you liked today’s post how to check bike installment or how to check car loan, then don’t forget to share it with your friends, thank you!