Renault Kwid, which is famous as the cheapest car in the Indian market, is highly appreciated by the people. If you are also thinking of buying the RXE 1.0 variant of this car and want to own it by making a downpayment of three lakh rupees, then in this news you will get information about how much EMI you will have to pay every month.
What is the price
Renault has launched the base variant of Kwid RXE 1.0 in the Indian market for Rs 4.69 lakh. If purchased in Delhi, the price of this hatchback will be around Rs 5.24 lakh.
What will be the amount of EMI after paying Rs 3 lakh?
On purchasing the H-back variant, the bank will finance the amount at its price only. After a down payment of Rs 3 lakh, you will have to get finance of about Rs 2.24 lakh from the bank. For this, you will have to take Rs 2.24 lakh for seven years at 9.5 percent interest, for which you will have to pay an EMI of Rs 3661 every month.
interest rate of 9.5 percent
If you take a car loan of Rs 2.24 lakh from the bank for seven years with an interest rate of 9.5 percent, then you will have to pay an EMI of Rs 3661 every month for seven years. After this, you will pay interest for only Rs 83 thousand and the total price of the car including ex-showroom, on road and interest will be Rs 6.07 lakh.
Emi plans
The monthly installment for a 60-month loan term with a down payment for Renault Kwid starts at approximately ₹9,176. The specific EMI changes based on the amount of the loan, the interest rate, and the duration.
- The EMI for a loan of ₹4.26 lakh with a 10.5% interest rate for 60 months is ₹9,176.
- The EMI for a loan of ₹4.61 lakh at an interest rate of 9.8% for 60 months is ₹11,664.
- The EMI for a base variant RXE 1.0L priced at ₹4.69 lakh with 8% interest over 60 months is ₹9,520, with a down payment of ₹84,875.
