Mahindra Verito Car Loan EMI Calculator

₹ 10,598.
Here is how - Mahindra Verito price starts from ₹ 5,94,004 in Mumbai. If you pay a down payment of ₹ 71,345 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 10,598.

The cheapest Verito model is 1.4 G2 BS-III which is priced at ₹ 5,94,004 in Mumbai. You will need to pay at least a ₹ 71,345 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 Verito.

Version	On-road price in Mumbai	Max Loan
1.6 G6 Executive BS-III	₹ 7,15,150	₹ 6,27,713
1.6 G6 Executive BS-IV	₹ 7,19,920	₹ 6,31,947
1.4 G2 BS-IV	₹ 6,56,275	₹ 5,73,718
1.4 G4 BS-IV	₹ 6,82,632	₹ 5,97,146
1.5 D2 BS-IV	₹ 8,96,357	₹ 7,52,420
1.5 D4 BS-IV	₹ 9,25,474	₹ 7,77,375
1.5 D6 BS-IV	₹ 10,14,530	₹ 8,51,129
1.4 G2 BS-III	₹ 5,94,004	₹ 5,22,659
1.4 G4 BS-III	₹ 6,24,966	₹ 5,50,180
1.5 D2 BS-III	₹ 7,00,454	₹ 6,06,498
1.5 D4 BS-III	₹ 7,37,807	₹ 6,39,121
1.5 D6 BS-III	₹ 8,14,164	₹ 7,05,807
1.5 Executive	₹ 9,85,203	₹ 8,45,973
E D2 [2016-2019]	₹ 12,90,609	₹ 11,28,700
E D4 [2016-2019]	₹ 13,19,929	₹ 11,54,705
E D6 [2016-2019]	₹ 13,31,236	₹ 11,64,733

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 Verito 1.4 G2 BS-III will be ₹ 9,258 but you will have to pay interest of ₹ 2,55,013 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 ₹ 18,614, but your interest payment will be only ₹ 1,47,445 over the 3 years period.

₹ 10,598
Mahindra Verito price starts from ₹ 5,94,004 in Mumbai.

We have considered
Down-payement : ₹ 71,345
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 1,99,000

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 Verito starts from ₹ 5.94 Lakh, you can get a loan with an annual income as low as ₹ 1.99 lakh.

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

• 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.