Three Wheeler Loan EMI Calculator

With booming industry in the country, consumers and businesses require reliable and easy-to-use online EMI calculator tools to calculate the monthly EMIs for their preferred vehicles. Considering this growing need, CMV360 introduces its highly advanced and efficient EMI calculator, capable of giving correct estimates of three-wheeler loan EMIs.

Select Brand

Select Model

EMI Calculator

Down Payment

₹0

Bank Interest Rate

15%

Loan Period(Months)

EMI

per month

₹0

Calculated on Ex-showroom Price

*Ex-showroom Price

₹0

Total loan amount

₹0

Total amount to pay

₹0

You'll pay extra

₹0

The Indian three-wheeler market has seen over 488 thousand sales units in FY2023. The three-wheeler market in India was valued at $890 million in FY2022 and is on its way to attaining $2,156 million of market value by 2028, reflecting a CAGR of 15.89%.

How to use a three-wheeler loan EMI?

Follow the given steps to use our online three wheeler EMI calculator to get the accurate EMI details for your vehicle:

Step 1: Visit CMV360’s online EMI calculator

Step 2: Select the three-wheeler brand and model

Step 3: Add minimum down payment details

Step 4: Select bank interest rate and loan tenure

Step 5: Click on the "Request for Instant Loan" button

You can also use the following formula for calculating loan EMI:

EMI = [P x R x (1+R)^N] / [(1+R)^N-1]

Where,

EMI = Equated Monthly Installment

P = Principal amount of your loan

R = Monthly interest rate

N = tenure of loan in months

What are the benefits of using a three-wheeler loan?

There are several benefits of taking three-wheeler loans:

You don't need to pay the entire amount at the time of purchase
There are several cost-effective finance options available in the market
The monthly EMIs on three-wheeler loans remain comparatively less

Why should you use a three-wheeler loan EMI calculator?

With the rising demand for three-wheelers in India, the number of lenders and loan schemes has also risen. If you want to get a great loan offer that fits in your budget and doesn't put much burden on your pocket, it's better to use online EMI calculators. There are many advantages of EMI calculators, such as:

These tools save significant time and effort in getting the loan EMI estimates.
You do not need to provide personal information or complete the registration process.
You can make an informed decision by comparing EMI estimates of different loan offers.
EMI calculators can help you understand if you can pay the monthly EMIs for three-wheelers with your current income sources.

CMV360's online three wheeler EMI calculator can give accurate estimates of three-wheeler loans. It's also easy to use, offers unlimited checks, and requires no registration to access the feature.

Frequently Asked Questions

A three-wheeler loan calculator calculates the estimate of EMIs on vehicle loans based on the applicable interest rate and tenure of the loan.

A loan EMI calculator typically takes a few seconds to calculate the EMI estimates. You need to enter a few details like principal amount, rate of interest, and loan tenure.

Many financial institutions and lenders provide three-wheeler loans for used or pre-owned vehicles as well. However, you would be required to have .

The three-wheeler loan interest rate in India ranges from 7.50% to 24% for a maximum of 5 years.

The average three-wheeler loan interest rate is 10% for a tenure of 5 years.

The maximum loan amount varies depending on the three-wheeler's on-road price. Typically, lenders finance up to 90% of the purchased vehicle's price.

The approval time for a three-wheeler loan can vary from one to seven working days.

No, you don't need to provide any collateral security to avail yourself of a vehicle loan.

Using an online three-wheeler EMI calculator is easy and convenient. You need to add basic details like loan amount, interest, and loan tenure to calculate the EMI.