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New Motorcycle Loan Calculator

Get an instant estimate of your motorcycle loan EMI with Zigwheels's user-friendly loan calculator. Simply enter the loan amount, tenure, and interest rate, then hit 'Apply Now' to see your personalized EMIs in seconds.

Please Select Brand, Model and Variant
Loan Tenure
Estimated Monthly EMI
Apply Loan
Down Payment
Loan Amount

*Rate of interest can vary subject to credit profile. Loan approval is at the sole discretion of the finance partner.

*Fees such as insurance, administrative, provision fees, etc. are not included in the simulation.

*The simulation is only a general description and is not the actual amount. The final amount will be determined by the financier.

Eligibility & Documents Required for Motorcycle Loan

  • Eligibility
  • Documents
Individual
  • Malaysian citizen aged 18 years and above (not exceeding 60 years at the end of loan tenure)
  • Should be employed for a minimum of 6 months in current employment
  • Minimum monthly gross income should be RM 1000
Self-Employed/Sole Proprietorship/Partnership/Companies
  • Malaysian citizen aged 18 years and above (not exceeding 60 years at the end of loan tenure)
  • Should be in the current employment for at least 1 year
  • Minimum monthly net pay should be RM 1000
Salary earning individuals
  • Photocopy of I/C
  • Photocopy of valid driving licence
  • Photocopy of the latest 3 months’ salary slips
  • Copies of updated bank statement or savings passbook
  • Latest EPF statements/EA forms
  • Other supporting documents as required by the lending partner
Self-employed
  • Photocopy of company registration document (ROB/ROC/LLP)
  • Photocopy of I/C of proprietor/partners/directors
  • Photocopy of valid driving licence
  • Photocopy of 3 months business bank statement
  • Other supporting documents as required by the lending partner

FAQ’s on Motorcycle Loan Calculator

How to Use a Motorcycle Loan EMI Calculator?

    Using a motorcycle loan EMI calculator is relatively simple and straightforward. The following are the steps to use a motorcycle loan EMI calculator:
  • Enter the loan amount: The first step is to enter the amount of loan you wish to take for the motorcycle.
  • Enter the interest rate: The second step is to enter the interest rate offered on the loan by the lender.
  • Enter the loan tenure: The third step is to enter the tenure or the duration of the loan in months.
  • Click on "Apply Loan": Once you have entered all the required information, click on the "Apply Loan" button to get the EMI.
  • View the EMI: The calculator will then display the EMI that you need to pay every month to repay the loan.

What are the benefits of using an online Motorcycle Loan EMI Calculator?

    Convenience: Online motorcycle loan EMI calculators can be accessed from anywhere and at any time.
  • Speed and accuracy: Online calculators are quick and efficient in providing accurate EMI calculations.
  • Comparison: Online calculators allow users to compare different loan options based on interest rates, tenures, and down payments.
  • Cost-effective: Online calculators are free to use and don't require any additional costs.
  • Helps in planning: Knowing the EMI amount can help users plan their budget and finances, and make an informed decision about whether to take the loan or not. Additionally, it allows users to estimate the cost of a motorcycle.

What is the maximum tenure of a motorcycle loan?

    The financial institutions offer flexi instalment tenure for Moped and Superbike loans, which range from 12, 24, 36, 48 to a maximum of 84 months.

What motorcycles can be financed?

    In Malaysia, All car brands can be financed. Zigwheels provides loan for the following brands:

What documents are required for a motorcycle loan application?

    Following documents are required to submit with a motorcycle loan application -
  • Photocopy of I/C
  • Photocopy of valid driving licence
  • Photocopy of the latest 3 months’ salary slips
  • Copies of updated bank statement or savings passbook
  • Latest EPF Statements/EA Forms

Who can apply for a motorcycle loan?

    To apply for a motorcycle loan, one must need to fulfil the following eligibility criteria -
  • Malaysian citizenship
  • 18 years old and above
  • Employed (for a minimum of 6 months in current employment) or self-employed for at least 1 year

How much down payment do I need to pay?

    Applicants have to pay at least 10% of the bike’s on-the-road price, according to the Hire Purchase Act (1967).

What is the margin of finance?

    It is a percentage of the bike's OTR price that the bank or financial institution offers you as a loan amount. The margin of financing can be up to 90%.

What is the interest rate on motorcycle financing?

    Different banks offer a competitive interest rate ranging from 4% to 5% per annum, depending on the tenure.

What brand of motorcycles can I purchase on loan?

    The lending partners offer loans for a wide range of brands of motorcycles, including Honda, Yamaha, Suzuki, Kawasaki, KTM, Modenas, SYM, Aprilia, BMW, Ducati, and more.

How can I pay the monthly instalment?

    You can pay the monthly instalment by auto-debit, over-the-counter, or post-dated cheque.

What should I do if I lose my motorcycle?

    Upon losing your motorcycle purchased on loan, you first need to lodge a police complaint, followed by filling the insurance claim. After that, you need to submit all required documents to the lending partner and continue to service the instalment as per the schedule along with following up on the insurance claim status.

How long does it take for the motorcycle loan to get processed?

    The bike loan application usually processes within 3 working days.

Can I make a full settlement of the financing before its maturity?

    Yes, you can make a full settlement of the financing before its maturity. Some banks also provide rebates on the same.

Do I need to provide security to get a motorcycle loan?

    No. You don’t need to provide security to get a motorcycle loan.

Can I take a motorcycle loan, if I already have taken another loan?

    Yes, you can take a motorcycle loan, if you already have a loan. As long as it doesn't affect your credit score, you can take multiple loans.

Can Zigwheels help me with my application for a motorcycle loan?

    The Zigwheels motorcycle loan calculator can help you calculate the estimated monthly instalment you will be required to pay for your motorcycle loan. You can also start processing your motorcycle loan application by submitting the form provided on the website. However, the approval of financing is in the hands of the lending partner.
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