Maruti Suzuki Ritz Car Loan EMI Calculator

₹ 9,377.
Here is how - Maruti Suzuki Ritz price starts from ₹ 5,25,460 in Mumbai. If you pay a down payment of ₹ 62,981 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 9,377.

The cheapest Ritz model is Lxi BS-IV which is priced at ₹ 5,25,460 in Mumbai. You will need to pay at least a ₹ 62,981 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 Ritz.

Version	On-road price in Mumbai	Max Loan
Vxi BS-IV	₹ 5,90,099	₹ 5,20,014
Lxi BS-IV	₹ 5,25,460	₹ 4,62,479
Zxi BS-IV	₹ 6,65,280	₹ 5,86,932
Vxi (ABS) BS-IV	₹ 6,20,971	₹ 5,47,492
Zdi BS-IV	₹ 8,09,130	₹ 7,01,149
Ldi BS-IV	₹ 6,72,002	₹ 5,81,452
Vdi BS-IV	₹ 7,29,629	₹ 6,31,754
Vdi ABS BS-IV	₹ 7,52,135	₹ 6,51,399
Vxi AT BS-IV	₹ 7,39,090	₹ 6,52,629

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 Ritz Lxi BS-IV will be ₹ 8,190 but you will have to pay interest of ₹ 2,25,481 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 ₹ 16,466, but your interest payment will be only ₹ 1,30,297 over the 3 years period.

₹ 9,377
Maruti Suzuki Ritz price starts from ₹ 5,25,460 in Mumbai.

We have considered
Down-payement : ₹ 62,981
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 1,76,000

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 Ritz starts from ₹ 5.25 Lakh, you can get a loan with an annual income as low as ₹ 1.76 lakh.

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

• 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.