Honda Brio Car Loan EMI Calculator

₹ 9,755.
Here is how - Honda Brio price starts from ₹ 5,78,486 in Bangalore. If you pay a down payment of ₹ 97,389 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 9,755.

The cheapest Brio model is E MT which is priced at ₹ 5,78,486 in Bangalore. You will need to pay at least a ₹ 97,389 down payment to buy this model.

Note: Down payment is the amount you would pay upfront to buy your car. Bank give you a loan for the remaining amount.

Here is a model wise list of max loan amount for Brio.

Version	On-road price in Bangalore	Max Loan
E MT	₹ 5,78,486	₹ 4,81,097
S MT	₹ 6,40,803	₹ 5,29,509
VX MT	₹ 7,31,847	₹ 6,06,867
VX AT	₹ 8,30,075	₹ 6,90,328
S (O)MT	₹ 6,54,926	₹ 5,41,509

As a thumb rule, you can get a maximun loan of up to 100% of the ex-showroom price.

Good Practice will be to chose the shortest possible tenure for which you can afford an EMI amount.

• 1. If you select a higher tenure loan, let's say 7 years, your EMI for Brio E MT will be ₹ 9,016 but you will have to pay interest of ₹ 2,76,247 over the period of 7 years.
• 2. If you select a lower tenure loan, let's say 3 years, your EMI amount will be higher at ₹ 18,128, but your interest payment will be only ₹ 1,71,511 over the 3 years period.

₹ 9,755
Honda Brio price starts from ₹ 5,78,486 in Bangalore.

We have considered
Down-payement : ₹ 97,389
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Brio with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 1,93,000

As a general rule, banks or other lenders offer you a car loan 3 to 4 times your annual income. Considering the on-road price of Brio starts from ₹ 5.78 Lakh, you can get a loan with an annual income as low as ₹ 1.93 lakh.

Here are the most important things you should consider while getting a car loan for a new Brio

• 1. Interest rate - Go for the loan with the lowest interest rate.
• 2. Additional Charges - processing fee, prepayment charges, late payment penalty are some of the important points you need to check before taking a loan.
• 3. Tenue and Max Loan Amount - Select a lender who gives you a loan that you can afford.
  -If Max loan amount is lower, you will have to shell out more money upfront to buy the car.
  -If Tenue is lower, your per month instalment amount will increase.
• 4. Eligibility - Banks may have stricter eligibility requirements compared to NBFCs or other financial institutions.