The Triumph Speed 400 is one of the friendliest 350cc bikes in India, and is priced at Rs 2,34,140 (ex-showroom). If you are planning to buy it on loan, here’s a detailed EMI breakdown for different loan tenures, with a down payment of Rs 27,000 and an interest rate of 9.7%
18 Month Loan
For an 18-month loan, you have to pay an EMI of Rs 14,291. While the EMI is comparatively higher than the other loan tenures, the total interest is lower at Rs 18,740. The total repayment cost comes out to Rs 2,57,238.
24 Month Loan
This tenure scheme balances EMI and the interest amount as it offers lower EMI than the 18-month tenure. For a 24-month loan, you will have to pay an EMI of Rs 10,972. The total repayment cost is Rs 2,63,328, including the interest of Rs 24,830.
36 Month Loan
The 36-month loan offers the lowest EMI at Rs 7,662, which is significantly lower than the other loan tenures. However, the interest is the highest at Rs 37,334, and the total repayment cost comes to Rs 2,75,832.
BikeDekho Says
Getting a bike on loan is a convenient way to avoid paying the full price of the bike upfront, making the purchase easier. However, it also increases the overall cost of the bike. Additionally, the downpayment, EMI and the interest rates ultimately depend on your CIBIL score and loan eligibility. Also, ensure you review the loan terms and conditions with your bank before you sign for it.
