Maruti Suzuki Versa Car Loan EMI Calculator

₹ 7,574.
Here is how - Maruti Suzuki Versa price starts from ₹ 4,18,378 in Navi Mumbai. If you pay a down payment of ₹ 44,853 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 7,574.

The cheapest Versa model is Std 5 STR BS-III which is priced at ₹ 4,18,378 in Navi Mumbai. You will need to pay at least a ₹ 44,853 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 Versa.

Version	On-road price in Navi Mumbai	Max Loan
DX 5 STR BS-III	₹ 4,91,012	₹ 4,41,007
DX BS-III	₹ 4,95,921	₹ 4,44,061
DX2 5 STR BS-III	₹ 5,33,223	₹ 4,79,241
DX2 BS-III	₹ 5,36,321	₹ 4,80,810
STD BS-III	₹ 4,16,954	₹ 3,73,582
Std 5 STR BS-III	₹ 4,18,378	₹ 3,73,525

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 Versa Std 5 STR BS-III will be ₹ 6,521 but you will have to pay interest of ₹ 1,74,239 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 ₹ 13,110, but your interest payment will be only ₹ 98,435 over the 3 years period.

₹ 7,574
Maruti Suzuki Versa price starts from ₹ 4,18,378 in Navi Mumbai.

We have considered
Down-payement : ₹ 44,853
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 1,40,000

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 Versa starts from ₹ 4.18 Lakh, you can get a loan with an annual income as low as ₹ 1.40 lakh.

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

• 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.