MG ZS EV Car Loan EMI Calculator

₹ 47,406.
Here is how - MG ZS EV price starts from ₹ 24,85,265 in Mumbai. If you pay a down payment of ₹ 1,47,265 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 47,406.

The cheapest ZS EV model is Excite which is priced at ₹ 24,85,265 in Mumbai. You will need to pay at least a ₹ 1,47,265 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 ZS EV.

Version	On-road price in Mumbai	Max Loan
Exclusive	₹ 28,95,994	₹ 27,29,800
Excite	₹ 24,85,265	₹ 23,38,000
Exclusive Iconic Ivory	₹ 29,06,470	₹ 27,39,800
Exclusive Pro	₹ 29,46,945	₹ 27,89,800
Exclusive Pro Iconic Ivory	₹ 29,57,413	₹ 27,99,800

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 ZS EV Excite will be ₹ 38,736 but you will have to pay interest of ₹ 9,15,824 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 ₹ 77,879, but your interest payment will be only ₹ 4,65,644 over the 3 years period.

₹ 47,406
MG ZS EV price starts from ₹ 24,85,265 in Mumbai.

We have considered
Down-payement : ₹ 1,47,265
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 8,29,000

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 ZS EV starts from ₹ 24.85 Lakh, you can get a loan with an annual income as low as ₹ 8.29 lakh.

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

• 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.