Maruti Suzuki Esteem Car Loan EMI Calculator

₹ 9,388.
Here is how - Maruti Suzuki Esteem price starts from ₹ 5,12,926 in Mumbai. If you pay a down payment of ₹ 49,906 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 9,388.

The cheapest Esteem model is LX BS-III which is priced at ₹ 5,12,926 in Mumbai. You will need to pay at least a ₹ 49,906 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 Esteem.

Version	On-road price in Mumbai	Max Loan
VXi BS-III	₹ 5,98,298	₹ 5,39,403
LXi BS-III	₹ 5,57,844	₹ 5,02,561
LX BS-III	₹ 5,12,926	₹ 4,63,020

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 Esteem LX BS-III will be ₹ 7,995 but you will have to pay interest of ₹ 2,08,560 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 ₹ 16,073, but your interest payment will be only ₹ 1,15,608 over the 3 years period.

₹ 9,388
Maruti Suzuki Esteem price starts from ₹ 5,12,926 in Mumbai.

We have considered
Down-payement : ₹ 49,906
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 1,71,000

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 Esteem starts from ₹ 5.13 Lakh, you can get a loan with an annual income as low as ₹ 1.71 lakh.

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

• 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.