Renault Kwid Car Loan EMI Calculator

₹ 8,717.
Here is how - Renault Kwid price starts from ₹ 5,07,100 in Mumbai. If you pay a down payment of ₹ 77,200 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 8,717.

The cheapest Kwid model is Authentic Petrol Manual which is priced at ₹ 5,07,100 in Mumbai. You will need to pay at least a ₹ 77,200 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.

Version	On-road price in Mumbai	Max Loan
CLIMBER Petrol Manual	₹ 6,41,704	₹ 5,47,000
CLIMBER Petrol Automatic	₹ 6,89,065	₹ 5,88,200
CLIMBER Petrol Manual Dual Tone	₹ 6,54,350	₹ 5,58,000
CLIMBER Petrol Automatic Dual Tone	₹ 7,01,594	₹ 5,99,100
Authentic Petrol Manual	₹ 5,07,100	₹ 4,29,900
Evolution Petrol Manual	₹ 5,49,171	₹ 4,66,500
Evolution Petrol Automatic	₹ 5,87,565	₹ 4,99,900
Techno Petrol Manual	₹ 5,86,746	₹ 4,99,900
Techno Petrol Automatic	₹ 6,43,775	₹ 5,48,800
Techno Petrol Manual Dual Tone	₹ 6,04,347	₹ 5,14,500
Techno Petrol Automatic Dual Tone	₹ 6,60,673	₹ 5,63,500
Authentic CNG Manual	₹ 5,68,129	₹ 4,29,900
Evolution CNG Manual	₹ 6,08,999	₹ 4,66,500
Techno CNG Manual	₹ 6,46,295	₹ 4,99,900
CLIMBER CNG Manual	₹ 7,00,420	₹ 5,47,000

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 Authentic Petrol Manual will be ₹ 7,904 but you will have to pay interest of ₹ 2,34,036 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 ₹ 15,891, but your interest payment will be only ₹ 1,42,176 over the 3 years period.

₹ 8,717
Renault Kwid price starts from ₹ 5,07,100 in Mumbai.

We have considered
Down-payement : ₹ 77,200
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 1,70,000

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 starts from ₹ 5.07 Lakh, you can get a loan with an annual income as low as ₹ 1.70 lakh.

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

• 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.