Frequently Asked Questions (FAQs)

1. What is EMI?

EMI stands for Equated Monthly Installment. It’s the amount you pay monthly to repay your loan.

2. How is EMI calculated?

EMI is calculated using the principal loan amount, interest rate, and loan tenure.

3. What is the interest rate for Bullet 350?

It varies by bank, but typically ranges from 9% to 15% annually.

4. Can I make a higher down payment?

Yes, a higher down payment reduces your loan amount and EMI.

5. Is the calculator accurate?

It gives a close estimate based on your inputs. Bank EMI might vary slightly.

6. What is the tenure for the loan?

Usually ranges from 12 to 60 months. You can enter any value here.

7. Is the Bullet 350 price fixed?

No, it varies by location and variant. Use the ex-showroom price for accuracy.

8. Can I prepay the loan?

Yes, but check if your bank has any prepayment penalties.

9. Do I need a good credit score?

Yes, a good credit score helps you get better interest rates.

10. Is this tool mobile friendly?

Yes! This EMI calculator works well on mobile, tablet, and desktop.