Renault Kwid [2022-2023] Car Loan EMI Calculator

₹ 9,530.
Here is how - Renault Kwid [2022-2023] price starts from ₹ 5,53,790 in Mumbai. If you pay a down payment of ₹ 83,790 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 9,530.

The cheapest Kwid [2022-2023] model is RXL 0.8 which is priced at ₹ 5,53,790 in Mumbai. You will need to pay at least a ₹ 83,790 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 Kwid [2022-2023].

Version	On-road price in Mumbai	Max Loan
RXL 0.8	₹ 5,53,790	₹ 4,70,000
RXL 1.0	₹ 5,65,262	₹ 4,80,000
CLIMBER (O) 1.0 Dual Tone	₹ 6,71,192	₹ 5,71,000
CLIMBER (O) 1.0 AMT Dual Tone	₹ 7,14,787	₹ 6,09,000
RXL (O) 0.8	₹ 5,81,897	₹ 4,94,500
RXL (O) 1.0	₹ 5,86,945	₹ 4,98,900
RXT 1.0	₹ 6,36,775	₹ 5,41,000
CLIMBER	₹ 6,59,720	₹ 5,61,000
CLIMBER AMT	₹ 7,03,315	₹ 5,99,000
RXT 1.0 AMT	₹ 6,88,401	₹ 5,86,000

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 Kwid [2022-2023] RXL 0.8 will be ₹ 8,631 but you will have to pay interest of ₹ 2,55,004 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 ₹ 17,354, but your interest payment will be only ₹ 1,54,744 over the 3 years period.

₹ 9,530
Renault Kwid [2022-2023] price starts from ₹ 5,53,790 in Mumbai.

We have considered
Down-payement : ₹ 83,790
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Kwid [2022-2023] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 1,85,000

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 Kwid [2022-2023] starts from ₹ 5.54 Lakh, you can get a loan with an annual income as low as ₹ 1.85 lakh.

Here are the most important things you should consider while getting a car loan for a new Kwid [2022-2023]

• 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.