Tata Punch EV Car Loan EMI Calculator

₹ 19,648.
Here is how - Tata Punch EV price starts from ₹ 10,19,702 in Mumbai. If you pay a down payment of ₹ 50,702 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 19,648.

The cheapest Punch EV model is Smart 30.0 kWh which is priced at ₹ 10,19,702 in Mumbai. You will need to pay at least a ₹ 50,702 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 Punch EV.

Version	On-road price in Mumbai	Max Loan
Smart 30.0 kWh	₹ 10,19,702	₹ 9,69,000
Smart Plus 30.0 kWh	₹ 10,92,095	₹ 10,29,000
Adventure 40.0 kWh	₹ 12,34,240	₹ 11,59,000
Empowered 40.0 kWh	₹ 13,07,516	₹ 12,29,000
Empowered Plus S 40.0 kWh	₹ 13,38,920	₹ 12,59,000
Smart Plus 40.0 kWh	₹ 11,60,964	₹ 10,89,000

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 Punch EV Smart 30.0 kWh will be ₹ 15,893 but you will have to pay interest of ₹ 3,66,012 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 ₹ 31,954, but your interest payment will be only ₹ 1,81,344 over the 3 years period.

₹ 19,648
Tata Punch EV price starts from ₹ 10,19,702 in Mumbai.

We have considered
Down-payement : ₹ 50,702
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 3,40,000

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 Punch EV starts from ₹ 10.20 Lakh, you can get a loan with an annual income as low as ₹ 3.40 lakh.

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

• 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.