Calculate your Loan EMI for LYF
- On-Road PriceRs.0
- Total Loan AmountRs.0
- Payable AmountRs.0
- You’ll pay extraRs.0
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LYF EMI FAQs
The lenders generally finance 90% of the value of the . Some customers might be eligible for 100% funding too. The down payment is the difference between the on-road price of the and the amount funded by a lender. This means the minimum possible down payment that you have to pay for Hop Electric LYF includes the RTO and insurance charges.
EMIs or Equated Monthly Installments refer to the monthly payments you make to the lender to repay your loan. These payments include the principal amount as well as the interest i.e. EMI = Principal Amount + Interest on Principal amount. Mathematically, EMI for Hop Electric LYF can be calculated using the following formula:
{P x R x (1+R)^N / [(1+R)^N-1]}
where, P = Principal amount of the loan, R = Rate of interest and N = Number of monthly installments.
For Example:- If the principal amount for a bike loan is Rs. ₹64,040/- on an annual rate of interest of 10% for a tenure of 3 years then
EMI = 64040 * 0.008333*(1+ 0.008333)^36 / ((1+ 0.008333)^36)-1 = Rs 2,057/-
The rate of interest (R) on your loan is calculated monthly i.e. (R= Annual rate of interest/12/100). For instance, if R = 10% per annum, then R= 10%/12 = 0.008333.
The interest rate for Hop Electric LYF primarily depends on the principal amount and tenure of the loan amount. Interest rate of lenders generally varies from 9.7% per annum to 15% per annum. Customers can also negotiate with the financier for a better rate of interest against their loan amount.
EMI for Hop Electric LYF for 3 years tenure can be calculated as per the following formula:-
{P x R x (1+R)^N / [(1+R)^N-1]}
Where, P = Principal amount of the loan, R = Rate of interest, N = Number of monthly installments which will be 36 in case of 3 years tenure.
Hop Electric LYF User Reviews
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- Speed (2)
- Performance (1)
- Mileage (1)
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- Maintenance (1)
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- best electric scooter in india in LOW speedone of the best low speed electric scooter in india by Hop electric .i am using it from last 3 months and i am toatally satisfied with this product ,the light weight electric.....Read MoreWas this review helpful?YesNo
- Worst ExperienceFully waste of money. I purchased my scooty on Dec 22, there are so many problems with this scooty, yesterday my father went his friend home but this scooty off in the way......Read MoreWas this review helpful?YesNo
- Overall Best PerformanceOverall this scooter's performance is the best, but the company claim 80 km and its actual range are 60 to 65 km.Was this review helpful?YesNo
- Mileage IssueMileage per charge is only 50 km against promised 125 km, On speed breakers/rough roads, once slow down doesn't give pickup, sometimes suddenly gives jerk.Was this review helpful?YesNo
- Running And Maintenance Cost Is Very LowIt was an amazing experience. Running and maintenance cost is very low, looks wise this vehicle is very beautiful.Was this review helpful?YesNo
- View All Hop Electric LYF Reviews
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Disclaimer : As per the information entered by you the calculation is performed by EMI Calculator and the amount of installments does not includes any other fees charged by the financial institution / banks like processing fee, file charges, etc. The amount is in Indian Rupee rounded off to the nearest Rupee. Depending upon type and use of vehicle, regional lender requirements and the strength of your credit, actual down payment and resulting monthly payments may vary. Exact monthly installments can be found out from the financial institution.