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Velev Motors VEV 01 EMI Calculator
Velev Motors VEV 01 EMI starts at Rs 1,012 per month for a tenure of 36 months @9.7 for a loan amount of Rs 31,944. The EMI Calculator tool on BikeDekho gives a detailed break-up of the total payable amount and helps you in finding the best bike finance for your VEV 01. (Calculated on On Road Price in Delhi)
Velev Motors VEV 01 Down Payment and EMI
| VEV 01 Variants | Loan @ 9.7%. | Down payment | EMI (36 months) |
|---|---|---|---|
| STD | 31,944 | Rs. 3,549 | Rs. 1,012 |
Calculate your Loan EMI for VEV 01
- On-Road PriceRs.0
- Total Loan AmountRs.0
- Payable AmountRs.0
- You’ll pay extraRs.0
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VEV 01 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 Velev Motors VEV 01 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 Velev Motors VEV 01 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. ₹31,493/- on an annual rate of interest of 10% for a tenure of 3 years then
EMI = 31493 * 0.008333*(1+ 0.008333)^36 / ((1+ 0.008333)^36)-1 = Rs 1,012/-
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 Velev Motors VEV 01 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 Velev Motors VEV 01 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.
Velev Motors VEV 01 User Reviews
- All (5)
- Looks (2)
- Power (1)
- Price (1)
- Lights (1)
- Mileage (1)
- Maintenance (1)
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- Most Helpful
- Very Good bikeIt is very useful for stores owners and delivery professionals it required less maintenance and very useful for in city usesWas this review helpful?YesNo
- Budget friendly not bad at allOver all budget friendly not the best you expected but It was ok if you looking at a budget scooter Budget friendly not bad at allWas this review helpful?YesNo
- Amazing ExperienceThis bike is suitable mainly for delivery and other personal rides. The power and loading capacity is amazing of this bike, it gives good mileage and it looks nice. Overall, it's.....Read MoreWas this review helpful?YesNo
- Great ScooterVery good on the road with great features, also it’s very light in weight and price as well.Was this review helpful?YesNo
- Awesome BikeAwesome bike with great features in this budget. Very smooth on road. I was first a little dicey but it was the best investment.Was this review helpful?YesNo
- View All Velev Motors VEV 01 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.