Skoda Kylaq Car Loan EMI Calculator

₹ 15,390.
Here is how - Skoda Kylaq price starts from ₹ 8,85,375 in Mumbai. If you pay a down payment of ₹ 1,26,375 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 15,390.

The cheapest Kylaq model is Classic Petrol Turbo Manual which is priced at ₹ 8,85,375 in Mumbai. You will need to pay at least a ₹ 1,26,375 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 Kylaq.

Version	On-road price in Mumbai	Max Loan
Classic Petrol Turbo Manual	₹ 8,85,375	₹ 7,59,000
Signature Petrol Turbo Manual	₹ 10,99,530	₹ 9,43,000
Signature Plus Petrol Turbo Manual	₹ 12,75,017	₹ 10,77,000
Prestige Petrol Turbo Manual	₹ 13,89,429	₹ 11,75,000
Signature Petrol Turbo Automatic	₹ 12,35,324	₹ 10,43,000
Signature Plus Petrol Turbo Automatic	₹ 13,91,763	₹ 11,77,000
Prestige Petrol Turbo Automatic	₹ 15,06,174	₹ 12,75,000
Classic Plus Petrol Turbo Manual	₹ 9,64,155	₹ 8,25,000
Classic Plus Petrol Turbo Automatic	₹ 10,78,880	₹ 9,25,000
Prestige Plus Petrol Turbo Automatic	₹ 15,34,192	₹ 12,99,000
Prestige Plus Petrol Turbo Manual	₹ 14,17,447	₹ 11,99,000

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 Kylaq Classic Petrol Turbo Manual will be ₹ 13,800 but you will have to pay interest of ₹ 4,00,200 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 ₹ 27,744, but your interest payment will be only ₹ 2,39,784 over the 3 years period.

₹ 15,390
Skoda Kylaq price starts from ₹ 8,85,375 in Mumbai.

We have considered
Down-payement : ₹ 1,26,375
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 2,96,000

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 Kylaq starts from ₹ 8.85 Lakh, you can get a loan with an annual income as low as ₹ 2.96 lakh.

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

• 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.