Royal Enfield Himalayan 440 EMI Buying Guide

Royal Enfield recently launched the new Himalayan 440 in India at Rs 2,29,900 (ex-showroom, Chennai). Once you factor in about Rs 28,463 RTO charges and insurance costing roughly around Rs 21,446, the on-road price in Chennai works out to be around Rs 2,79,859. 

If you are planning to get this adventure bike on loan, here is our detailed EMI guide. We have considered a down payment of Rs 50,000, and assuming an interest rate of 9.7 per cent per annum (which could depend  on your CIBIL score).

18-Month Loan Tenure

If you are planning to close the loan quickly and pay as little interest as possible, the 18-month plan should be your best bet. The monthly EMI will surely be the highest of the three options here at Rs 13,773; however, the overall interest is going to be considerably lower at just Rs 18,055. Over this tenure, you'll repay a total of Rs 2,47,914, including both the principal loan amount and the interest.

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24-Month Loan Tenure

The 24-month repayment plan is another great option to consider that reduces the monthly EMI down to Rs 10,575, making it slightly easier on the pocket. The trade-off here is a higher interest. Compared to the 18-month plan, you pay around Rs 5,886 more as interest. Over the two-year tenure, you'll pay Rs 23,941 in interest, with the total repayment amount adding up to Rs 2,53,800.

36-Month Loan Tenure

If you want the monthly EMI to be as low as possible, then the three-year repayment plan brings it down to Rs 7,385. However, the lower EMI comes at the cost of roughly Rs 17,946 more in interest compared to the shorter 18-month plan. In this case, you'll pay Rs 36,001 interest, and the total amount you repay rises to Rs 2,65,860.

BikeDekho Says

Getting the Royal Enfield Himalayan 440 on loan is a convenient way to avoid paying the full price upfront, making it easier to purchase the bike. However, opting for a loan also increases the overall cost due to the interest payable. 

The down payment, EMI amount and interest rate will depend on factors such as your CIBIL score and loan eligibility. Before signing the loan agreement, make sure you carefully read and understand all the terms and conditions provided by the bank or financing company.