Kia Carnival Car Loan EMI Calculator

₹ 51,685.
Here is how - Kia Carnival price starts from ₹ 31,13,975 in Mumbai. If you pay a down payment of ₹ 5,64,975 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 51,685.

The cheapest Carnival model is Premium 7 STR which is priced at ₹ 31,13,975 in Mumbai. You will need to pay at least a ₹ 5,64,975 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 Carnival.

Version	On-road price in Mumbai	Max Loan
Premium 7 STR	₹ 31,13,975	₹ 25,49,000
Prestige 7 STR	₹ 37,69,599	₹ 30,99,000
Limousine Plus 7 STR	₹ 43,11,740	₹ 35,49,000
Prestige 9 STR	₹ 36,44,372	₹ 29,95,000
Limousine 7 STR	₹ 40,70,788	₹ 33,49,000
Prestige 6 STR	₹ 36,24,345	₹ 29,99,000

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 Carnival Premium 7 STR will be ₹ 48,535 but you will have to pay interest of ₹ 15,27,940 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 ₹ 97,581, but your interest payment will be only ₹ 9,63,916 over the 3 years period.

₹ 51,685
Kia Carnival price starts from ₹ 31,13,975 in Mumbai.

We have considered
Down-payement : ₹ 5,64,975
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 10,38,000

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 Carnival starts from ₹ 31.14 Lakh, you can get a loan with an annual income as low as ₹ 10.38 lakh.

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

• 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.