Mahindra TUV300 Car Loan EMI Calculator

₹ 17,095.
Here is how - Mahindra TUV300 price starts from ₹ 10,10,678 in Mumbai. If you pay a down payment of ₹ 1,67,592 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 17,095.

The cheapest TUV300 model is T4 Plus which is priced at ₹ 10,10,678 in Mumbai. You will need to pay at least a ₹ 1,67,592 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 TUV300.

Version	On-road price in Mumbai	Max Loan
T4 Plus	₹ 10,10,678	₹ 8,43,086
T6 Plus	₹ 10,81,535	₹ 9,03,678
T8	₹ 11,55,505	₹ 9,66,933
T10	₹ 11,82,810	₹ 9,90,282
T10 Dual Tone	₹ 12,28,017	₹ 10,13,599
T10 (O)	₹ 12,38,716	₹ 10,22,611
T10 (O) Dual Tone	₹ 12,66,394	₹ 10,45,927

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 TUV300 T4 Plus will be ₹ 15,753 but you will have to pay interest of ₹ 4,80,166 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 ₹ 31,671, but your interest payment will be only ₹ 2,97,070 over the 3 years period.

₹ 17,095
Mahindra TUV300 price starts from ₹ 10,10,678 in Mumbai.

We have considered
Down-payement : ₹ 1,67,592
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy TUV300 with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 3,37,000

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 TUV300 starts from ₹ 10.11 Lakh, you can get a loan with an annual income as low as ₹ 3.37 lakh.

Here are the most important things you should consider while getting a car loan for a new TUV300

• 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.