Mahindra TUV300 Car Loan EMI Calculator

₹ 17,484.
Here is how - Mahindra TUV300 price starts from ₹ 9,82,732 in Bhubaneswar. If you pay a down payment of ₹ 1,20,424 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 17,484.

The cheapest TUV300 model is T4 Plus which is priced at ₹ 9,82,732 in Bhubaneswar. You will need to pay at least a ₹ 1,20,424 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 TUV300.

Version	On-road price in Bhubaneswar	Max Loan
T4 Plus	₹ 9,82,732	₹ 8,62,308
T6 Plus	₹ 10,50,338	₹ 9,22,900
T8	₹ 11,20,916	₹ 9,86,155
T10	₹ 11,75,316	₹ 10,09,505
T10 Dual Tone	₹ 12,01,972	₹ 10,32,821
T10 (O)	₹ 12,12,276	₹ 10,41,833
T10 (O) Dual Tone	₹ 12,38,933	₹ 10,65,149

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 TUV300 T4 Plus will be ₹ 15,317 but you will have to pay interest of ₹ 4,24,320 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 ₹ 30,795, but your interest payment will be only ₹ 2,46,312 over the 3 years period.

₹ 17,484
Mahindra TUV300 price starts from ₹ 9,82,732 in Bhubaneswar.

We have considered
Down-payement : ₹ 1,20,424
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy TUV300 with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 3,28,000

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 TUV300 starts from ₹ 9.83 Lakh, you can get a loan with an annual income as low as ₹ 3.28 lakh.

Here are the most important things you should consider while getting a car loan for a new TUV300

• 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.