What is the difference between a two wheeler loan EMI calculator and a bike insurance plan calculator?
The two wheeler loan EMI calculator gives you an idea of the amount that you will incur every month during the loan tenure as repayment for the loan.
The bike insurance plan calculator, on the other hand, gives you an estimate of the premium that you will be paying when you buy a two wheeler insurance plan. Buying a bike insurance plan that covers third party liabilities is legally mandatory in India as per the Motor Vehicles Act of 1988. You can also buy comprehensive two wheeler insurance plans for additional protection. Just like a bike EMI calculator helps potential borrowers choose the best loan for themselves, an insurance premium calculator helps prospective policyholders choose the best two wheeler insurance plans.
- What is a premium?
- Does one have to upload any documents to use the two wheeler loan calculator?
- Can one use the bike EMI calculator if they do not know the processing fee of that lender?
- How does the two wheeler loan EMI calculator work?
- What are some of the factors that determine the overall EMI of the bike loan?