Will a Stationary Bike help me lose weight?

Well, I suppose lose weight is the wrong word - I want to lose fat, and I'm not sure if the stationary bike will help. I come from a place where if you go running, you stand a chance of being beaten up or mocked and followed until they find where you live; a stationary bike is really my only option, as I have dispraxia and cannot ride a normal one without falling off.

My sister recently bought one off eBay with adjustable settings. Will this help me burn the excess fat if I did it, say, thirty minutes every three days? I really don't have time for anything else with my studies.