Nissan Magnite Car Loan EMI Calculator

₹ 11,456.
Here is how - Nissan Magnite price starts from ₹ 6,75,686 in Mumbai. If you pay a down payment of ₹ 1,10,686 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 11,456.

The cheapest Magnite model is Visia Petrol Manual which is priced at ₹ 6,75,686 in Mumbai. You will need to pay at least a ₹ 1,10,686 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 Magnite.

Version	On-road price in Mumbai	Max Loan
Visia Petrol Manual	₹ 6,75,686	₹ 5,65,000
Visia Plus Petrol Manual	₹ 7,40,248	₹ 6,19,500
Acenta Petrol Manual	₹ 8,10,797	₹ 6,80,500
N-Connecta Petrol Manual	₹ 8,88,641	₹ 7,43,500
Tekna Petrol Manual	₹ 9,93,693	₹ 8,36,500
Tekna Plus Petrol Manual	₹ 10,29,329	₹ 8,69,500
Visia Petrol Automatic (AMT)	₹ 7,45,574	₹ 6,24,000
Acenta Petrol Automatic (AMT)	₹ 8,67,685	₹ 7,36,000
N-Connecta Petrol Automatic (AMT)	₹ 9,49,732	₹ 7,99,000
Tekna Petrol Automatic (AMT)	₹ 10,59,788	₹ 8,92,000
Tekna Plus Petrol Automatic (AMT)	₹ 10,97,357	₹ 9,25,000
N-Connecta Petrol Manual HRAO	₹ 10,38,251	₹ 8,74,500
Tekna Petrol Turbo Manual	₹ 11,33,067	₹ 9,54,500
Tekna Plus Petrol Turbo Manual	₹ 11,71,792	₹ 9,88,400
Acenta Petrol Turbo Automatic (CVT)	₹ 10,97,357	₹ 9,25,000
N-Connecta Petrol Turbo Automatic (CVT)	₹ 11,47,821	₹ 9,67,400
Tekna Petrol Turbo Automatic (CVT)	₹ 12,81,162	₹ 10,62,300
Tekna Plus Petrol Turbo Automatic (CVT)	₹ 13,20,960	₹ 10,96,000
N-Connecta Petrol Manual Dual Tone	₹ 9,04,592	₹ 7,60,500
Tekna Petrol Manual Dual Tone	₹ 10,13,630	₹ 8,53,500
Tekna Plus Petrol Manual Dual Tone	₹ 10,53,400	₹ 8,86,500
N-Connecta Petrol Automatic (AMT) Dual Tone	₹ 9,69,663	₹ 8,16,000
Tekna Petrol Automatic (AMT) Dual Tone	₹ 10,78,496	₹ 9,09,000
Tekna Plus Petrol Automatic (AMT) Dual Tone	₹ 11,17,390	₹ 9,42,000
N-Connecta Petrol Manual Dual Tone HRAO	₹ 10,59,212	₹ 8,91,500
Tekna Petrol Turbo Manual Dual Tone	₹ 11,47,939	₹ 9,67,500
Tekna Plus Petrol Turbo Manual Dual Tone	₹ 12,12,238	₹ 10,05,400
N-Connecta Petrol Turbo Automatic (CVT) Dual Tone	₹ 11,67,753	₹ 9,84,400
Tekna Petrol Turbo Automatic (CVT) Dual Tone	₹ 13,01,040	₹ 10,79,300
Tekna Plus Petrol Turbo Automatic (CVT) Dual Tone	₹ 13,41,239	₹ 11,13,000
Visia CNG Manual	₹ 7,17,519	₹ 5,65,000
Visia Plus CNG Manual	₹ 7,78,376	₹ 6,19,500
Acenta CNG Manual	₹ 8,46,492	₹ 6,80,500
N-Connecta CNG Manual	₹ 9,16,841	₹ 7,43,500
N-Connecta CNG Manual B4D	₹ 9,35,824	₹ 7,60,500
Tekna CNG Manual	₹ 10,23,750	₹ 8,36,500
Tekna CNG Manual B4D	₹ 10,42,733	₹ 8,53,500
Tekna Plus CNG Manual	₹ 10,60,600	₹ 8,69,500
Tekna Plus CNG Manual B4D	₹ 10,79,583	₹ 8,86,500
Kuro Edition Petrol Manual B4D	₹ 9,25,697	₹ 7,78,500
Kuro Edition Petrol Automatic (AMT) EZ-SHIFT	₹ 9,90,767	₹ 8,34,000
Kuro Edition Petrol Turbo Manual HRAO	₹ 10,79,287	₹ 9,09,500
Kuro Edition Petrol Turbo Automatic (CVT) HRAO	₹ 11,94,889	₹ 9,99,400
Visia CNG Automatic (AMT)	₹ 7,83,401	₹ 6,24,000
Acenta CNG Automatic (AMT)	₹ 9,08,466	₹ 7,36,000
N-Connecta CNG Automatic (AMT)	₹ 9,78,815	₹ 7,99,000
Tekna CNG Automatic (AMT)	₹ 10,85,724	₹ 8,92,000
Tekna Plus CNG Automatic (AMT)	₹ 11,22,574	₹ 9,25,000

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 Magnite Visia Petrol Manual will be ₹ 10,531 but you will have to pay interest of ₹ 3,19,604 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 ₹ 21,174, but your interest payment will be only ₹ 1,97,264 over the 3 years period.

₹ 11,456
Nissan Magnite price starts from ₹ 6,75,686 in Mumbai.

We have considered
Down-payement : ₹ 1,10,686
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 2,26,000

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 Magnite starts from ₹ 6.76 Lakh, you can get a loan with an annual income as low as ₹ 2.26 lakh.

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

• 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.