Factors that Affect L & T Finance Two wheeler loan
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Principal- The principal is the L & T Finance Two wheeler loan amount that you avail from the lender or bank or NBFC. It is directly proportional to all your EMIs - lower principal of L & T Finance Two wheeler 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 L & T Finance Two wheeler loan. It is also directly proportional to the purchase value of your L & T Finance Two wheeler loan EMIs.
Tenure- The tenure is the time within which you should repay your L & T Finance Two wheeler loan. The tenure is inversely proportional to all your loan EMIs - longer tenure makes the monthly instalments low.
Things to consider that affect the L & T Finance Two wheeler loan: