MG ZS EV Car Loan EMI Calculator

₹ 36,477.
Here is how - MG ZS EV price starts from ₹ 19,28,263 in Mumbai. If you pay a down payment of ₹ 1,29,263 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 36,477.

The cheapest ZS EV model is Executive 50.3 kWh which is priced at ₹ 19,28,263 in Mumbai. You will need to pay at least a ₹ 1,29,263 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
Executive 50.3 kWh	₹ 19,28,263	₹ 17,99,000
Excite Pro 50.3 kWh	₹ 20,00,518	₹ 18,74,600
Exclusive Plus 50.3 kWh Dark Grey	₹ 21,05,568	₹ 19,74,600
Essence 50.3 kWh Dark Grey	₹ 22,10,668	₹ 20,74,600
Exclusive Plus 50.3 kWh Dual Tone Iconic Ivory	₹ 21,05,568	₹ 19,74,600
Essence 50.3 kWh Iconic Ivory	₹ 22,10,668	₹ 20,74,600
100-Year 50.3 kWh Dual Tone	₹ 20,78,937	₹ 19,74,600

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 Executive 50.3 kWh will be ₹ 30,054 but you will have to pay interest of ₹ 7,25,536 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 ₹ 60,425, but your interest payment will be only ₹ 3,76,300 over the 3 years period.

₹ 36,477
MG ZS EV price starts from ₹ 19,28,263 in Mumbai.

We have considered
Down-payement : ₹ 1,29,263
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 ₹ 6,43,000

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 ₹ 19.28 Lakh, you can get a loan with an annual income as low as ₹ 6.43 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.