Skoda Rapid TSI Car Loan EMI Calculator

₹ 15,795.
Here is how - Skoda Rapid TSI price starts from ₹ 8,99,754 in Mumbai. If you pay a down payment of ₹ 1,20,754 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 15,795.

The cheapest Rapid TSI model is Rider which is priced at ₹ 8,99,754 in Mumbai. You will need to pay at least a ₹ 1,20,754 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 Rapid TSI.

Version	On-road price in Mumbai	Max Loan
Rider	₹ 8,99,754	₹ 7,79,000
Ambition	₹ 11,50,638	₹ 9,99,000
Onyx	₹ 11,94,066	₹ 10,19,000
Style	₹ 13,68,126	₹ 11,69,000
Monte Carlo	₹ 14,02,898	₹ 11,99,000
Rider Plus	₹ 9,45,442	₹ 8,19,000
Rider Plus AT	₹ 11,16,472	₹ 9,69,000
Ambition AT	₹ 13,44,878	₹ 11,49,000
Onyx AT	₹ 13,68,126	₹ 11,69,000
Style AT	₹ 15,18,938	₹ 12,99,000
Monte Carlo AT	₹ 15,53,810	₹ 13,29,000
Matte Limited Edition	₹ 14,09,856	₹ 11,99,000
Matte Limited Edition AT	₹ 15,83,923	₹ 13,49,000

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 Rapid TSI Rider will be ₹ 14,024 but you will have to pay interest of ₹ 3,99,016 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 ₹ 28,195, but your interest payment will be only ₹ 2,36,020 over the 3 years period.

₹ 15,795
Skoda Rapid TSI price starts from ₹ 8,99,754 in Mumbai.

We have considered
Down-payement : ₹ 1,20,754
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 3,00,000

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 Rapid TSI starts from ₹ 9.00 Lakh, you can get a loan with an annual income as low as ₹ 3 lakh.

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

• 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.