Royal Enfield recently launched the Bullet 650 in India, at an ex-showroom price of Rs 3,64,856 (ex-showroom Delhi). For buyers considering financing options, here’s a detailed breakdown of EMIs across multiple loan tenures, with a down payment of Rs 91,000 and an interest rate of 9.7%.
18 Month Loan
|
Monthly EMI |
Rs 19,492 |
|
Rate of interest |
9.7% for 18 Months |
|
On-Road Price of bike |
Rs 4,16,313 |
|
Down payment |
Rs 91,000 |
|
Loan Amount |
Rs 3,25,313 |
|
Interest amount |
Rs 25,543 |
|
Total Amount Payable |
Rs 3,50,856 |
Opting for an 18-month repayment period results in a monthly instalment of Rs 19,492. Although this tenure demands a higher EMI, the interest is relatively low at Rs 25,543. The total amount payable at the end of the term stands at Rs 3,50,856.
24 Month Loan
|
Monthly EMI |
Rs 14,967 |
|
Rate of interest |
9.7% for 24 Months |
|
On-Road Price of bike |
Rs 4,16,313 |
|
Down payment |
Rs 91,000 |
|
Loan Amount |
Rs 3,25,313 |
|
Interest amount |
Rs 33,895 |
|
Total Amount Payable |
Rs 3,59,208 |
A 24-month loan duration offers a more balanced approach between EMI affordability and overall interest. In this case, the monthly EMI reduces to Rs 14,967, while the total payable amount rises to Rs 3,59,208, including Rs 33,895 paid as interest.
36 Month Loan
|
Monthly EMI |
Rs 10,451 |
|
Rate of interest |
9.7% for 36 Months |
|
On-Road Price of bike |
Rs 4,16,313 |
|
Down payment |
Rs 91,000 |
|
Loan Amount |
Rs 3,25,313 |
|
Interest amount |
Rs 50,923 |
|
Total Amount Payable |
Rs 3,76,236 |
For those prioritising lower monthly expenses, the 36-month (three-year) tenure is the most affordable option. The EMI drops significantly to Rs 10,451, making it easier on the wallet. However, this comes at the cost of a higher interest payout of Rs 50,923, taking the total repayment to Rs 3,76,236.
BikeDekho Says
Buying the Royal Enfield Bullet 650 on loan can ease the immediate financial burden by eliminating the need for a full upfront payment. That said, it also increases the overall cost due to the interest paid over time. Also, the EMI and interest rates are influenced by factors such as your CIBIL score and loan eligibility, so it’s advisable to carefully go through your bank’s terms and conditions before proceeding.
