Jeep Meridian Car Loan EMI Calculator

₹ 67,723.
Here is how - Jeep Meridian price starts from ₹ 40,85,892 in Mumbai. If you pay a down payment of ₹ 7,45,892 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 67,723.

The cheapest Meridian model is Limited (O) 4x2 MT which is priced at ₹ 40,85,892 in Mumbai. You will need to pay at least a ₹ 7,45,892 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 Meridian.

Version	On-road price in Mumbai	Max Loan
Limited (O) 4x2 MT	₹ 40,85,892	₹ 33,40,000
Limited (O) 4x2 AT	₹ 43,18,644	₹ 35,32,000
Limited (O) 4x4 AT	₹ 46,44,737	₹ 38,01,000
X	₹ 41,23,838	₹ 33,83,000
Upland	₹ 44,50,663	₹ 36,55,000
Limited Plus 4x2 AT	₹ 43,92,590	₹ 35,93,000
Limited Plus 4x4 AT	₹ 47,17,471	₹ 38,61,000
Overland 4x2 AT	₹ 44,77,098	₹ 36,77,000
Overland 4x4 AT	₹ 48,00,318	₹ 39,46,000

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 Meridian Limited (O) 4x2 MT will be ₹ 63,684 but you will have to pay interest of ₹ 20,09,456 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 ₹ 1,28,037, but your interest payment will be only ₹ 12,69,332 over the 3 years period.

₹ 67,723
Jeep Meridian price starts from ₹ 40,85,892 in Mumbai.

We have considered
Down-payement : ₹ 7,45,892
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 13,62,000

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 Meridian starts from ₹ 40.86 Lakh, you can get a loan with an annual income as low as ₹ 13.62 lakh.

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

• 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.