Tata Altroz Car Loan EMI Calculator

₹ 12,774.
Here is how - Tata Altroz price starts from ₹ 7,37,763 in Mumbai. If you pay a down payment of ₹ 1,07,773 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 12,774.

The cheapest Altroz model is Smart Petrol 1.2L Manual which is priced at ₹ 7,37,763 in Mumbai. You will need to pay at least a ₹ 1,07,773 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 Altroz.

Version	On-road price in Mumbai	Max Loan
Smart Petrol 1.2L Manual	₹ 7,37,763	₹ 6,29,990
Pure Petrol 1.2L Manual	₹ 8,28,843	₹ 7,09,990
Smart CNG 1.2L Manual	₹ 8,29,723	₹ 7,29,990
Creative Petrol 1.2L Manual	₹ 9,33,646	₹ 8,01,990
Accomplished S Petrol 1.2L Manual	₹ 10,70,266	₹ 9,21,990
Pure CNG 1.2L Manual	₹ 9,18,441	₹ 8,09,990
Creative CNG 1.2L Manual	₹ 10,20,399	₹ 9,01,990
Accomplished S CNG 1.2L Manual	₹ 11,74,234	₹ 10,21,990
Pure Diesel 1.5L Turbo Manual	₹ 9,65,400	₹ 8,14,990
Accomplished S Diesel 1.5L Turbo Manual	₹ 12,32,121	₹ 10,26,990
Pure S Petrol 1.2L Manual	₹ 8,65,276	₹ 7,41,990
Creative S Petrol 1.2L Manual	₹ 9,73,493	₹ 8,36,990
Pure Petrol 1.2L Automatic (AMT)	₹ 8,91,462	₹ 7,64,990
Pure S Petrol 1.2L Automatic (AMT)	₹ 9,27,893	₹ 7,96,990
Creative Petrol 1.2L Automatic (AMT)	₹ 9,96,265	₹ 8,56,990
Creative S Petrol 1.2L Automatic (AMT)	₹ 10,36,112	₹ 8,91,990
Creative S Petrol 1.2L Automatic (DCT)	₹ 11,04,422	₹ 9,51,990
Accomplished S Petrol 1.2L Automatic (DCT)	₹ 12,22,349	₹ 10,36,990
Accomplished Plus S Petrol 1.2L Automatic (DCT)	₹ 12,51,322	₹ 10,61,990
Pure S CNG 1.2L Manual	₹ 9,53,903	₹ 8,41,990
Creative S CNG 1.2L Manual	₹ 10,48,103	₹ 9,26,990
Creative S Diesel 1.5L Turbo Manual	₹ 11,12,632	₹ 9,41,990
Creative S CNG 1.2L Automatic (AMT)	₹ 11,20,943	₹ 9,81,990
Creative CNG 1.2L Automatic (AMT)	₹ 10,92,983	₹ 9,56,990
Pure CNG 1.2L Automatic (AMT)	₹ 9,95,681	₹ 8,69,990
Pure S CNG 1.2L Automatic (AMT)	₹ 10,29,233	₹ 8,99,990
Accomplished S CNG 1.2L Automatic (AMT)	₹ 12,48,945	₹ 10,76,990

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 Altroz Smart Petrol 1.2L Manual will be ₹ 11,499 but you will have to pay interest of ₹ 3,35,926 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 ₹ 23,119, but your interest payment will be only ₹ 2,02,294 over the 3 years period.

₹ 12,774
Tata Altroz price starts from ₹ 7,37,763 in Mumbai.

We have considered
Down-payement : ₹ 1,07,773
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 2,46,000

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 Altroz starts from ₹ 7.38 Lakh, you can get a loan with an annual income as low as ₹ 2.46 lakh.

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

• 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.