Mahindra Scorpio 2021 Car Loan EMI Calculator

₹ 20,754.
Here is how - Mahindra Scorpio 2021 price starts from ₹ 10,23,543 in Sangareddi. If you pay a down payment of ₹ 0 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 20,754.

Here is a model wise list of max loan amount for Scorpio 2021.

Version	On-road price in Sangareddi	Max Loan
S5	₹ 17,91,837	₹ 14,37,717
S7	₹ 20,76,300	₹ 16,68,082
S9	₹ 21,63,752	₹ 17,39,912
S11	₹ 23,25,750	₹ 18,72,973
S3 Plus	₹ 17,05,726	₹ 13,66,988

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 ₹ 15,953 but you will have to pay interest of ₹ 3,16,509 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 ₹ 32,074, but your interest payment will be only ₹ 1,31,121 over the 3 years period.

₹ 20,754
Mahindra Scorpio 2021 price starts from ₹ 10,23,543 in Sangareddi.

We have considered
Down-payement : ₹ 0
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 ₹ 3,42,000

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 ₹ 10.24 Lakh, you can get a loan with an annual income as low as ₹ 3.42 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.