Mahindra Scorpio 2021 Car Loan EMI Calculator

₹ 20,682.
Here is how - Mahindra Scorpio 2021 price starts from ₹ 13,07,097 in Bangalore. If you pay a down payment of ₹ 2,87,103 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 20,682.

The cheapest Scorpio 2021 model is S3 2WD 7 STR which is priced at ₹ 13,07,097 in Bangalore. You will need to pay at least a ₹ 2,87,103 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 Scorpio 2021.

Version	On-road price in Bangalore	Max Loan
S3 2WD 7 STR	₹ 13,07,097	₹ 10,19,994
S5 2WD 7 STR	₹ 15,82,532	₹ 12,42,729
S7 120 2WD 7 STR	₹ 16,96,409	₹ 13,37,306
S7 140 2WD 7 STR	₹ 17,64,269	₹ 13,87,969
S11 2WD 7 STR	₹ 19,81,174	₹ 15,64,282
S11 4WD 7 STR	₹ 21,37,985	₹ 16,90,357
S3 2WD 9 STR	₹ 13,07,097	₹ 10,19,994
S5 2WD 9 STR	₹ 15,82,532	₹ 12,42,729
S7 120 2WD 8 STR	₹ 16,96,409	₹ 13,37,306
S7 140 2WD 8 STR	₹ 17,64,269	₹ 13,87,969
S11 2WD 8 STR	₹ 19,81,174	₹ 15,64,282
S11 4WD 8 STR	₹ 21,37,985	₹ 16,90,357
S9 2WD 7 STR	₹ 18,37,974	₹ 14,47,914
S9 2WD 8 STR	₹ 18,37,974	₹ 14,47,914
S5	₹ 18,01,627	₹ 14,28,216
S7	₹ 20,97,134	₹ 16,64,281
S9	₹ 21,79,216	₹ 17,30,413
S11	₹ 23,42,510	₹ 18,63,374
S3 Plus	₹ 17,29,157	₹ 13,67,188

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 Scorpio 2021 S3 2WD 7 STR will be ₹ 20,373 but you will have to pay interest of ₹ 6,91,338 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 ₹ 40,960, but your interest payment will be only ₹ 4,54,566 over the 3 years period.

₹ 20,682
Mahindra Scorpio 2021 price starts from ₹ 13,07,097 in Bangalore.

We have considered
Down-payement : ₹ 2,87,103
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Scorpio 2021 with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 4,36,000

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 Scorpio 2021 starts from ₹ 13.07 Lakh, you can get a loan with an annual income as low as ₹ 4.36 lakh.

Here are the most important things you should consider while getting a car loan for a new Scorpio 2021

• 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.