Skoda Rapid Car Loan EMI Calculator

₹ 14,173.
Here is how - Skoda Rapid price starts from ₹ 8,36,908 in Mumbai. If you pay a down payment of ₹ 1,37,908 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 14,173.

The cheapest Rapid model is Rider Limited Edition which is priced at ₹ 8,36,908 in Mumbai. You will need to pay at least a ₹ 1,37,908 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.

Version	On-road price in Mumbai	Max Loan
Active 1.6 MPI	₹ 10,49,998	₹ 8,81,916
Ambition 1.6 MPI	₹ 11,88,863	₹ 9,98,599
Ambition 1.6 MPI AT	₹ 11,93,264	₹ 9,99,599
Style 1.6 MPI	₹ 13,43,248	₹ 11,15,599
Style 1.6 MPI AT	₹ 14,92,812	₹ 12,43,599
Active 1.5 TDI	₹ 10,70,585	₹ 8,99,599
Ambition 1.5 TDI	₹ 11,87,265	₹ 9,99,599
Ambition 1.5 TDI AT	₹ 13,65,823	₹ 11,35,599
Style 1.5 TDI	₹ 13,42,137	₹ 11,15,599
Style 1.5 TDI AT	₹ 14,93,728	₹ 12,43,599
Monte Carlo 1.6 MPI MT [2017]	₹ 12,69,313	₹ 10,75,347
Monte Carlo 1.6 MPI AT [2017]	₹ 14,11,953	₹ 11,97,672
Monte Carlo 1.5 TDI MT [2017]	₹ 14,86,512	₹ 12,46,096
Monte Carlo 1.5 TDI AT [2017]	₹ 16,18,696	₹ 13,57,709
Edition 1.6 MPI	₹ 13,43,248	₹ 11,15,599
Edition 1.6 MPI AT	₹ 14,83,463	₹ 12,35,599
Edition 1.5 TDI	₹ 15,66,338	₹ 12,99,599
Edition 1.5 TDI AT	₹ 17,15,913	₹ 14,25,599
ONYX 1.6 MPI LE	₹ 11,62,395	₹ 9,75,599
ONYX 1.6 MPI AT LE	₹ 13,24,553	₹ 10,99,599
ONYX 1.5 TDI LE	₹ 13,98,956	₹ 11,58,599
ONYX 1.5 TDI AT LE	₹ 15,35,473	₹ 12,73,599
Monte Carlo 1.6 MPI MT	₹ 13,71,291	₹ 11,39,599
Monte Carlo 1.6 MPI AT	₹ 15,23,127	₹ 12,69,599
Monte Carlo 1.5 TDI MT	₹ 13,70,561	₹ 11,39,599
Monte Carlo 1.5 TDI AT	₹ 15,24,520	₹ 12,69,599
Rider Limited Edition	₹ 8,36,908	₹ 6,99,000

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 Rapid Rider Limited Edition will be ₹ 13,044 but you will have to pay interest of ₹ 3,96,696 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 ₹ 26,226, but your interest payment will be only ₹ 2,45,136 over the 3 years period.

₹ 14,173
Skoda Rapid price starts from ₹ 8,36,908 in Mumbai.

We have considered
Down-payement : ₹ 1,37,908
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 2,79,000

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 starts from ₹ 8.37 Lakh, you can get a loan with an annual income as low as ₹ 2.79 lakh.

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

• 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.