Maruti Suzuki Versa Car Loan EMI Calculator

₹ 7,427.
Here is how - Maruti Suzuki Versa price starts from ₹ 4,31,494 in Bangalore. If you pay a down payment of ₹ 65,184 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 7,427.

The cheapest Versa model is Std 5 STR BS-III which is priced at ₹ 4,31,494 in Bangalore. You will need to pay at least a ₹ 65,184 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 Bangalore	Max Loan
DX 5 STR BS-III	₹ 5,02,713	₹ 4,37,771
DX BS-III	₹ 5,12,559	₹ 4,36,062
DX2 5 STR BS-III	₹ 5,45,857	₹ 4,75,682
DX2 BS-III	₹ 5,54,763	₹ 4,72,376
STD BS-III	₹ 4,29,932	₹ 3,66,310
Std 5 STR BS-III	₹ 4,31,494	₹ 3,66,310

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 ₹ 6,725 but you will have to pay interest of ₹ 1,98,590 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 ₹ 13,521, but your interest payment will be only ₹ 1,20,446 over the 3 years period.

₹ 7,427
Maruti Suzuki Versa price starts from ₹ 4,31,494 in Bangalore.

We have considered
Down-payement : ₹ 65,184
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 ₹ 1,44,000

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 ₹ 4.31 Lakh, you can get a loan with an annual income as low as ₹ 1.44 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.