Honda City Car Loan EMI Calculator

₹ 24,528.
Here is how - Honda City price starts from ₹ 14,37,044 in Mumbai. If you pay a down payment of ₹ 2,27,344 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 24,528.

The cheapest City model is SV Petrol Manual which is priced at ₹ 14,37,044 in Mumbai. You will need to pay at least a ₹ 2,27,344 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 Manual	₹ 14,37,044	₹ 12,09,700
ZX Plus Petrol Manual	₹ 19,26,343	₹ 16,24,700
V Petrol Manual	₹ 15,89,040	₹ 13,39,700
ZX Petrol Manual	₹ 18,22,284	₹ 15,35,700
ZX Plus Petrol Automatic (CVT)	₹ 20,43,263	₹ 17,24,700
V Petrol Automatic (CVT)	₹ 17,05,961	₹ 14,39,700
ZX Petrol Automatic (CVT)	₹ 19,39,204	₹ 16,35,700
ZX Plus Hybrid (Electric + Petrol) Automatic (e-CVT) e:HEV	₹ 25,14,923	₹ 21,09,700

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 Manual will be ₹ 22,398 but you will have to pay interest of ₹ 6,71,732 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 ₹ 45,032, but your interest payment will be only ₹ 4,11,452 over the 3 years period.

₹ 24,528
Honda City price starts from ₹ 14,37,044 in Mumbai.

We have considered
Down-payement : ₹ 2,27,344
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 ₹ 4,80,000

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 ₹ 14.37 Lakh, you can get a loan with an annual income as low as ₹ 4.80 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.