If you're planning to buy the bike on loan here's a detailed breakdown of how much EMI you will have to pay for different loan tenures, with a downpayment of Rs 20,000 and an interest rate of 9.7 percent.

18-Month Loan Tenure

For an 18-month loan tenure, you will have to pay an EMI of Rs 11,317 which is a bit high. But the benefit here is that you'll be paying less interest in total, coming to Rs 14,833. In this scheme, the total cost of the Royal Enfield Hunter 350 will be Rs 2,23,706.

2-Year Loan Tenure

If you're looking to reduce the load of EMIs, you can go for a two-year loan scheme. With this, you will be paying an EMI of Rs 8,689 which is Rs 2,628 lower compared to the 18-month loan tenure. However, you will be paying higher interest, coming to Rs 19,663. You will pay a total of Rs 2,28,536 for the bike.

3-Year Loan Tenure

With a 3-year loan tenure, the EMI goes down further to Rs 6,068, which is much cheaper than what you would have to pay with the other schemes mentioned above. However, you will be paying a higher amount as interest, which comes to Rs 29,575 in this case. The total price of the bike will be Rs 2,38,448

BikeDekho Says

Buying a motorcycle on an EMI is a good way to reduce the load of upfront payment, and also allows you to plan your finances better. However, with a higher loan period, you will be paying a lot more interest. Before applying for a loan, it is best to check what scheme you are most comfortable with.

It is important to note that, for the calculations above we have used an average rate of interest. Real-world rates may vary depending on a variety of factors including your CIBIL score, the amount you're putting as downpayment along with bank policies. For a clear picture of interest rates and other details it is best to reach out to your bank. For similar breakdowns like the ones above, you can check out our EMI calculator here.