Jeep Meridian Car Loan EMI Calculator

₹ 47,305.
Here is how - Jeep Meridian price starts from ₹ 28,65,396 in Mumbai. If you pay a down payment of ₹ 5,32,396 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 47,305.

The cheapest Meridian model is Longitude 2WD Diesel Turbo Manual 5 STR which is priced at ₹ 28,65,396 in Mumbai. You will need to pay at least a ₹ 5,32,396 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
Longitude 2WD Diesel Turbo Manual 5 STR	₹ 28,65,396	₹ 23,33,000
Longitude 2WD Diesel Turbo Automatic 5 STR	₹ 33,10,040	₹ 27,18,000
Longitude Plus 2WD Diesel Turbo Manual 7 STR	₹ 31,82,917	₹ 25,95,000
Longitude Plus 2WD Diesel Turbo Automatic 7 STR	₹ 35,33,530	₹ 29,04,000
Trail 2WD Diesel Turbo Manual 7 STR	₹ 35,67,092	₹ 29,12,000
Trail 2WD Diesel Turbo Automatic 7 STR	₹ 40,20,345	₹ 32,86,000
Trail AWD Diesel Turbo Automatic 7 STR	₹ 42,45,760	₹ 34,72,000
Limited (O) 2WD Diesel Turbo Manual 7 STR	₹ 36,63,342	₹ 30,01,000
Limited (O) 2WD Diesel Turbo Automatic 7 STR	₹ 41,12,726	₹ 33,75,000
Limited (O) AWD Diesel Turbo Automatic 7 STR	₹ 43,36,217	₹ 35,61,000
Overland 2WD Diesel Turbo Automatic 7 STR	₹ 43,36,217	₹ 35,61,000
Overland AWD Diesel Turbo Automatic 7 STR	₹ 45,60,909	₹ 37,48,000
Track Edition 2WD Diesel Turbo Automatic 7 STR	₹ 43,77,070	₹ 35,95,000
Track AWD Diesel Turbo Automatic 7 STR	₹ 46,01,762	₹ 37,82,000

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 Longitude 2WD Diesel Turbo Manual 5 STR will be ₹ 44,661 but you will have to pay interest of ₹ 14,18,524 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 ₹ 89,791, but your interest payment will be only ₹ 8,99,476 over the 3 years period.

₹ 47,305
Jeep Meridian price starts from ₹ 28,65,396 in Mumbai.

We have considered
Down-payement : ₹ 5,32,396
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 ₹ 9,56,000

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 ₹ 28.65 Lakh, you can get a loan with an annual income as low as ₹ 9.56 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.