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OLA S1 Pro EMI Calculator
Plan your Ola Electric EMI in seconds
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Two-Wheeler Loan EMI Calculator
Your EMI will be
₹5,072/month*
Total Interest Payable
₹43,435
Total Amount Payable
₹2,43,435
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*Two-Wheeler Loan EMI Calculator is only for illustration purposes. For actual calculations refer to your Repayment Schedule & Loan Agreement.*T&C Apply
Planning your Ola electric scooter financing is now easier with IDFC FIRST Bank’s Ola EMI calculator. If you are planning to buy the Ola S1, S1 Air, or any other variant, this smart tool helps you instantly estimate your monthly instalments. Simply enter the scooter’s price, loan tenure, and interest rate to get accurate EMI details. With this bike loan EMI calculator, you can customise your loan plan, compare options, and budget smartly without any flaw, ensuring your Ola ride fits seamlessly into your lifestyle.
How to use Ola EMI calculator
The Ola Electric EMI calculator is an easy-to-use web calculator from IDFC FIRST Bank that assists you to calculate your month-wise EMIs before availing the bike loan. To use it:
1. Enter on-road price of your Ola S1 Pro or Ola electric scooter.
2. Enter the loan amount which you want to avail.
3. Select the repayment term, which may range from 6 to 60 months in case of IDFC FIRST Bank.
4. Enter the interest rate which will be charged, starting from 15.99%*.
5. Your calculator will automatically indicate how much EMI you will need to pay each month.
Understanding the down payment for an Ola two-wheeler
Down payment is the money you pay in advance at the time of initial payment. IDFC FIRST Bank gives up to 95% of the on-road price of the scooter on loan, so you can pay the remaining amount as your down payment. Ola's down payment will depend upon the model and loan amount you opt for.
Example of a down payment & EMI of an Ola two-wheeler
Assume the on-road price of Ola S1 Pro is ₹1,20,000. If IDFC FIRST Bank is financing 95% of the price, your loan will be ₹1,14,000, and your Ola S1 Pro EMI will be based on the tenure and rate of interest you choose. For instance:
• For a minimum 15.99% p.a., rate of interest for a 24-month tenure, the EMI will be around ₹5,581
• For a 60-month tenure at 15.99% p.a., interest rate, the EMI will be lesser and can come down to ₹2,772. However, you need to pay a higher interest amount against the loan.
This helps you to select the best appropriate Ola S1 Pro EMI plan according to your financial requirements.
Key specifications & features of the Ola S1 Pro
The Ola S1 Pro is a well-crafted Indian electric scooter with the appropriate blend of performance, technology, and eco-friendly features.
• Power-packed electric motor with improved acceleration and riding comfort.
• 240 KM* travel distance with complete charging, ideal for daily use.
• Input-output features like app connectivity, navigation, and smart controls.
• Fashionable design with various colour options.
• Eco-friendly electric powertrain with no emissions.
Two-wheeler loan from IDFC Bank to buy an Ola two-wheeler
Here's why borrowers prefer IDFC FIRST Bank to get their two-wheeler loans.
• You can get competitive two-wheeler loan interest rates starting from 15.99%*, based on the variant.
• You can opt for repayment periods from 6 months to 60 months.
• You can get up to 95% of the on-road price of the scooter financed.
• You can immediately know your eligibility and get instant approvals.
• Applicants between 18 to 21 years need a co-applicant while individuals above 21 years of age do not require a guarantor for two-wheeler loans from IDFC FIRST Bank.
• You can apply online in a hassle-free manner or walk into an IDFC FIRST Bank partner showroom.
Popular Two-Wheeler Loan FAQs
Does IDFC FIRST Bank finance Ola electric scooters?
Yes, IDFC FIRST Bank finances Ola electric scooters up to 95% of the on-road price under the loan. You only need to pay a nominal 5% downpayment while purchasing your Ola electric scooter.
What is the minimum interest rate for an Ola electric scooter loan?
For the electric and mid-premium segment, the interest rate begins at 15.99%*, and the rate that will be applied will be noted in the loan offer.
What is the repayment tenure available for my Ola S1 Pro EMI plan?
You may opt for any tenure from 6 months to 60 months, enabling you to decide on an EMI as per your monthly expenditure.
What are the minimum documents that need to be applied for?
You require the recent passport-size photo, a valid identification/address proof like Aadhaar, passport, driving license, or voter ID, and a properly filled loan application form.
Is a guarantor needed for the Ola electric EMI loan?
Applicants above the age of 21 years need no guarantor. However, individuals between the age of 18 to 21 years require a co-applicant to apply for a two-wheeler loan from IDFC FIRST Bank.
Is the loan available for applicants below 21 years
18 years to 21-year-old candidates can apply for a two-wheeler loan with a co-applicant.
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