Honda City [2008-2011] Car Loan EMI Calculator

₹ 15,390.
Here is how - Honda City [2008-2011] price starts from ₹ 9,09,966 in Bangalore. If you pay a down payment of ₹ 1,50,966 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 15,390.

The cheapest City [2008-2011] model is 1.5 E MT which is priced at ₹ 9,09,966 in Bangalore. You will need to pay at least a ₹ 1,50,966 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 City [2008-2011].

Version	On-road price in Bangalore	Max Loan
1.5 E MT	₹ 9,09,966	₹ 7,59,000
1.5 S MT	₹ 9,97,952	₹ 8,33,000
1.5 S AT	₹ 10,93,632	₹ 9,22,000
1.5 V MT	₹ 10,52,646	₹ 8,79,000
1.5 V AT	₹ 11,39,444	₹ 9,52,000
1.5 V MT Exclusive	₹ 11,14,475	₹ 9,31,000
1.5 V AT Exclusive	₹ 12,31,945	₹ 10,01,987

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 City [2008-2011] 1.5 E MT will be ₹ 14,183 but you will have to pay interest of ₹ 4,32,372 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 ₹ 28,515, but your interest payment will be only ₹ 2,67,540 over the 3 years period.

₹ 15,390
Honda City [2008-2011] price starts from ₹ 9,09,966 in Bangalore.

We have considered
Down-payement : ₹ 1,50,966
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy City [2008-2011] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 3,04,000

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 City [2008-2011] starts from ₹ 9.10 Lakh, you can get a loan with an annual income as low as ₹ 3.04 lakh.

Here are the most important things you should consider while getting a car loan for a new City [2008-2011]

• 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.