Factors that Affect ICICI Bike Loan

  • Principal- The principal is the ICICI Bike Loan amount that you avail from the lender or bank or NBFC. It is directly proportional to all your EMIs - lower principal of ICICI Bike Loan will lower your monthly EMI instalments and vice versa applies.
  • Rate of interest- The rate of interest is the rate at which the lender or bank offers you the ICICI Bike Loan. It is also directly proportional to the purchase value of your ICICI Bike Loan EMIs.
  • Tenure- The tenure is the time within which you should repay your ICICI bike loan. The tenure is inversely proportional to all your loan EMIs - longer tenure makes the monthly instalments low.

Things to consider that affect the ICICI Bike Loan:

  1. Income Levels
  2. Stability of Income
  3. Bike type, model, year, engine
  4. Credit History( loan repayment history)
  5. Employment Status for Salaried
  6. Business Longevity for Self-employed 
  7. Relationship with Lender or banker
  8. Category of Your Employer

 

  • Allahabad Bank