Honda City Car Loan EMI Calculator

₹ 23,967.
Here is how - Honda City price starts from ₹ 14,06,180 in Mumbai. If you pay a down payment of ₹ 2,24,180 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 23,967.

The cheapest City model is SV Petrol MT which is priced at ₹ 14,06,180 in Mumbai. You will need to pay at least a ₹ 2,24,180 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 City.

Version	On-road price in Mumbai	Max Loan
SV Petrol MT	₹ 14,06,180	₹ 11,82,000
V Petrol MT	₹ 15,09,070	₹ 12,70,000
VX Petrol MT	₹ 16,40,020	₹ 13,82,000
ZX Petrol MT	₹ 17,87,913	₹ 15,05,000
V Petrol CVT	₹ 16,55,221	₹ 13,95,000
VX Petrol CVT	₹ 17,90,250	₹ 15,07,000
ZX Petrol CVT	₹ 19,34,063	₹ 16,30,000
Elegant Edition MT	₹ 15,03,691	₹ 12,65,400
Elegant Edition CVT	₹ 16,49,841	₹ 13,90,400
SV Petrol MT 2024	₹ 14,36,696	₹ 12,08,100
V Petrol MT 2024	₹ 15,26,608	₹ 12,85,000
VX Petrol MT 2024	₹ 16,51,712	₹ 13,92,000
V Petrol CVT 2024	₹ 16,72,759	₹ 14,10,000
ZX Petrol MT 2024	₹ 17,93,759	₹ 15,10,000
VX Petrol CVT 2024	₹ 18,01,942	₹ 15,17,000
ZX Petrol CVT 2024	₹ 19,39,909	₹ 16,35,000

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 City SV Petrol MT will be ₹ 21,917 but you will have to pay interest of ₹ 6,59,028 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 ₹ 44,065, but your interest payment will be only ₹ 4,04,340 over the 3 years period.

₹ 23,967
Honda City price starts from ₹ 14,06,180 in Mumbai.

We have considered
Down-payement : ₹ 2,24,180
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 4,69,000

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 City starts from ₹ 14.06 Lakh, you can get a loan with an annual income as low as ₹ 4.69 lakh.

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

• 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.