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Two-wheeler Loan EMI Calculator in Excel

The tutorial explains how to loan money for a two-wheeler with EMI Calculator using Excel. Equated Monthly Installment, or EMI, has become a crucial component of product purchases in today's business environment. Because EMI can alleviate the pressure on customers regarding immediate costs, more and more customers are interested in purchasing goods through this payment plan. Let's say you have to purchase a costly item but lack the funds to do so, or if you do, you will be in financial hardship for at least a month. Banks offer you the EMI service, which allows you to buy a costly product by making a certain number of monthly payments to the vendor. This relieves you of this load.

The EMI amount can be calculated using Excel's built-in function. This basic calculator will be given to you after the tutorial.

How to Create an Excel Two-Wheeler Loan EMI Calculator: Two Methods

Let's say that you purchased a $12,000 product. After a full year, you will repay the money with interest at 6% through EMI. This scenario is represented in the dataset.

Two-wheeler Loan EMI Calculator in Excel

You might wonder whether we've already computed the EMI without telling you how. Don't worry; you can create a sheet similar to this at the end of the tutorial.

1. Creating an EMI calculator for two-wheeler loans using an Excel formula

To determine the EMI amount, we can utilise the PMT function. For you to see other metrics in the dataset besides the EMI quantity, I have sent you a comprehensive dataset. Let us examine the subsequent portion of this section.


  • In cell B9, first, enter the following formula:

Two-wheeler Loan EMI Calculator in Excel

The PMT function is used in this formula to automatically determine the amount of interest due by sequentially taking the Principal, interest rate, and time factors. Since the EMI will be paid for a full year, I split the interest rate by 12. If you are making payments interest for different months, divide that number by as well. I additionally used the ABS function to keep the value positive.

Before applying the formula, ensure you have filled in the row's Remaining column; otherwise, you won't receive a result.

  • Next, when you press the ENTER button, you will see the purchase's EMI amount.
    Two-wheeler Loan EMI Calculator in Excel
  • To get an interest amount for the first instalment, insert the following formula next.
= $B$6*E9/12

Two-wheeler Loan EMI Calculator in Excel
  • After these numbers have been determined, we can apply the following formula to determine the loan's current principal value.

Two-wheeler Loan EMI Calculator in Excel

Let us now compute the interest rate for the upcoming month. The Remaining Principal following the Previous Payment must first be determined. Because the amount of the EMI is based on the residual value, you must do this every month.

  • Obtain the Remaining Principal by writing down the following formula.
= E9-D9

Two-wheeler Loan EMI Calculator in Excel
  • Drag a formula from the preceding cell to obtain the current month's EMI.
    Two-wheeler Loan EMI Calculator in Excel

In the same way, you may AutoFill every dataset cell that is blank by using the Fill Handle technique. You can view each month's Interests, The current Principal, & Remaining Principal amounts. It makes the EMI summary easier for you to understand.

Two-wheeler Loan EMI Calculator in Excel

The most important information in this case is the EMI amount, which remains constant throughout the year and indicates that you must pay the salesperson or sales organisation 1032.797156 for the first month.

As a result, you can create an Excel two-wheeler loan EMI calculator.

Note: the month's number will start at 0 and go down to the total number of months minus one. As the month goes on, you can see that the interest amount decreases.

2. Creating an EMI calculator for a two-wheeler loan using the arithmetic formula

You may also duplicate the EMI formula in Excel if you are familiar with it and prefer not to utilise the built-in function. The EMI calculation formula is shown below.

EMI=Pr(1+r/1200)^n/1200[(1+r/1200)^n - 1]


  • P = It stands for Principal.
  • r = Interest Rate
  • n = Number of Installment Months

Now, will follow the same procedure as Section 1. All that will change is the EMI calculation. Let us examine the following explanation to gain an understanding of the procedure.

= A6* (B6/12) * (1+B6/12)^C6/((1+B6/12)^C6-1)

Two-wheeler Loan EMI Calculator in Excel

The remaining computations and procedures are the same as those in the preceding section.

Therefore, you can use the EMI arithmetic formula to create an Excel two-wheeler loan EMI calculator.

EMI Calculator

With the help of this straightforward and useful EMI calculator, you can figure out any EMI amount depending on the interest and principal rate. After entering your value in the appropriate fields, you will receive the EMI.

Two-wheeler Loan EMI Calculator in Excel
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