Tata Tiago EV Car Loan EMI Calculator

₹ 17,620.
Here is how - Tata Tiago EV price starts from ₹ 9,18,535 in Mumbai. If you pay a down payment of ₹ 49,535 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 17,620.

The cheapest Tiago EV model is XE Medium Range which is priced at ₹ 9,18,535 in Mumbai. You will need to pay at least a ₹ 49,535 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 Tiago EV.

Version	On-road price in Mumbai	Max Loan
XE Medium Range	₹ 9,18,535	₹ 8,69,000
XT Medium Range	₹ 9,80,587	₹ 9,29,000
XT Long Range	₹ 10,88,370	₹ 10,24,000
XZ Plus Long Range	₹ 11,71,974	₹ 11,04,000
XZ Plus Tech LUX Long Range	₹ 12,24,227	₹ 11,54,000
XZ Plus Long Range Fast Charger	₹ 12,24,227	₹ 11,54,000
XZ Plus Tech LUX Long Range Fast Charger	₹ 12,76,477	₹ 12,03,999

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 Tiago EV XE Medium Range will be ₹ 14,316 but you will have to pay interest of ₹ 3,33,544 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 ₹ 28,784, but your interest payment will be only ₹ 1,67,224 over the 3 years period.

₹ 17,620
Tata Tiago EV price starts from ₹ 9,18,535 in Mumbai.

We have considered
Down-payement : ₹ 49,535
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 3,07,000

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 Tiago EV starts from ₹ 9.19 Lakh, you can get a loan with an annual income as low as ₹ 3.07 lakh.

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