Renault Kwid Car Loan EMI Calculator

₹ 9,520.
Here is how - Renault Kwid price starts from ₹ 5,54,375 in Mumbai. If you pay a down payment of ₹ 84,875 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 9,520.

The cheapest Kwid model is RXE 1.0L which is priced at ₹ 5,54,375 in Mumbai. You will need to pay at least a ₹ 84,875 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
RXE 1.0L	₹ 5,54,375	₹ 4,69,500
RXL(O) 1.0L	₹ 5,88,860	₹ 4,99,500
RXL(O) 1.0L AMT	₹ 6,40,587	₹ 5,44,500
RXT 1.0L	₹ 6,46,909	₹ 5,50,000
RXT 1.0L AMT	₹ 6,98,636	₹ 5,95,000
CLIMBER 1.0 MT	₹ 6,90,015	₹ 5,87,500
CLIMBER 1.0 AMT	₹ 7,41,743	₹ 6,32,500
CLIMBER 1.0 MT Dual Tone	₹ 7,03,809	₹ 5,99,500
CLIMBER 1.0 AMT Dual Tone	₹ 7,55,536	₹ 6,44,500
Night & Day Edition	₹ 5,87,633	₹ 4,99,500

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 RXE 1.0L will be ₹ 8,641 but you will have to pay interest of ₹ 2,56,344 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 ₹ 17,372, but your interest payment will be only ₹ 1,55,892 over the 3 years period.

₹ 9,520
Renault Kwid price starts from ₹ 5,54,375 in Mumbai.

We have considered
Down-payement : ₹ 84,875
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 ₹ 1,85,000

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 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

• 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.