Official Rates • Updated Oct 2026Tamilnad Mercantile Bank Two Wheeler Loan Calculator 2026
Verified TMB bike & scooter loan rates from 13.30% p.a. — calculate your EMI with down payment, total interest & repayment schedule.
Calculate Your Two Wheeler EMI Instantly
Plan your bike, scooter, or electric two-wheeler purchase with our compact EMI calculator – quick, simple, and always on top!
One Lakh Twenty Thousand rupees
Twenty Thousand rupees
Monthly EMI
₹3.38 K
for 3 years
Loan Amount
₹1.00 L
Total Interest
₹21.82 K
Total Amount
₹1.22 L
TMB Foreclosure Charge Calculator
See exactly what closing this loan early would cost you — and whether the interest you save makes it worth it.
Closing now leaves you ₹9,994 better off
₹12,776 interest avoided − ₹2,782 fee = ₹9,994 net benefit.
| Close after | Outstanding | Fee | Net benefit |
|---|---|---|---|
| 6 mos | ₹85,963 | ₹3,043 | ₹12,510 |
| 12 mos | ₹70,966 | ₹2,512 | ₹7,734 |
| 24 mos | ₹37,826 | ₹1,339 | ₹1,441 |
Official TMB Foreclosure & Prepayment Terms
Published schedule of charges • Verified banking disclosure
“Prepayment may be permitted as per loan terms.”
TMB Two Wheeler Loan Interest Rate & Charges (2026)
Interest rate, processing fee, tenure and prepayment terms as published by TMB
| Particulars | TMB Two Wheeler Loan |
|---|---|
| Interest Rate | from 13.30% p.a. |
| Rate Benchmark | RLLR 8.25% (w.e.f. 07.06.2026) + spread |
| Foreclosure / Prepayment | Prepayment may be permitted as per loan terms. |
| Maximum Funding (LTV) | Up to 75% of the vehicle price |
| Maximum Tenure | 35 months (2.9 years) |
| Effective Date | RLLR w.e.f. 07.06.2026 |
- TMB's rate table ("Applicable ROI Minimum and Maximum for Investment Grade Loans") lists "TMB - Two Wheelers: RLLR 8.25%, effective ROI 13.30% minimum, 13.30% maximum". TMB notes the RLLR spread varies with the borrower's credit rating / score and the current effective rate should be confirmed with the branch.
- Two wheeler page: up to 75% of the on-road price, up to 35 EMIs. No two-wheeler specific processing fee is published.
- Product page: https://www.tmb.bank.in/personal/savings/tmb-two-wheeler-loan
TMB Two Wheeler Loan Scheme-wise Rates
TMB publishes separate rates for these two wheeler loan variants.
| Scheme / Segment | Interest Rate (p.a.) |
|---|---|
| TMB - Two WheelersRLLR 8.25% + spread; spread varies with credit rating / score | from 13.30% |
Compare TMB with Other Two Wheeler Loan Lenders (2026)
Bike loan interest rates from each lender's official website, sorted by lowest starting rate.
| Lender | Interest Rate (p.a.) | Est. Monthly EMI | Calculated Processing Fee | Total Payable (incl. fees & interest) |
|---|---|---|---|---|
| 9.00% - 24.00% | ₹3,180 | Up to ₹5,000 | ₹1,19,480 | |
| 10.50% - 11.50% | ₹3,250 | 0.50% of loan amount + GST (loan up to Rs.10 lakh); stamp duty at actual; log-in charges Rs.2,000 for applicant and Rs.1,300 for each co-applicant/guarantor (non-refundable) | ₹1,17,000 | |
| 13.00% - 28.00% | ₹3,369 | Up to ₹4,000 | ₹1,25,284 | |
| from 13.30% | ₹3,384 | Not published | ₹1,21,824 | |
| 14.49% - 24.00% | ₹3,442 | Up to ₹4,000 | ₹1,27,912 | |
| 16.40% - 26.00% | ₹3,535 | Up to ₹5,000 | ₹1,32,260 |
Live figures calculated for ₹1,00,000 over 36 months. Rates and fee formulas sourced directly from each lender's official website (last verified 7 Oct 2026) and auto-refreshed. GST at 18% is added where charged by the lender.
TMB Bike Loan EMI: Worked Example
Live from the calculator above: a ₹1,20,000 bike with ₹20,000 down payment, financed at 13.3% p.a. for 36 months.
TMB Two Wheeler Loan EMI per ₹1 Lakh
EMI on a ₹1,00,000 loan at TMB's lowest and highest published rate.
| Tenure | EMI @ 13.3% | EMI @ 13.3% |
|---|---|---|
| 12 months | ₹8,946 | ₹8,946 |
| 24 months | ₹4,768 | ₹4,768 |
Before You Apply for a TMB Two Wheeler Loan
- Compare the all-in cost, not just the rate. Processing fee, documentation charges and insurance bought through the dealer can add more than a 1% rate difference on a small bike loan.
- A bigger down payment cuts interest fastest. Bike loans are short, so every ₹10,000 less borrowed saves interest across the whole tenure.
- Check foreclosure terms. Many borrowers close bike loans early; TMB's published terms are listed in the Rates & Charges table above.
- Typical documents: PAN, Aadhaar / address proof, income proof (salary slips or ITR), recent bank statements and the dealer's quotation. The vehicle is hypothecated to TMB until the loan is closed, after which you get an NOC to remove it from the RC.
Tamilnad Mercantile Bank Two Wheeler Loan FAQs
Common questions about TMB bike and scooter loan interest rates, EMI, charges and foreclosure in 2026.