Toyota Innova Hycross Car Loan EMI Calculator

₹ 37,613.
Here is how - Toyota Innova Hycross price starts from ₹ 22,39,066 in Mumbai. If you pay a down payment of ₹ 3,84,066 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 37,613.

The cheapest Innova Hycross model is G-SLF 7 STR which is priced at ₹ 22,39,066 in Mumbai. You will need to pay at least a ₹ 3,84,066 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 Innova Hycross.

Version	On-road price in Mumbai	Max Loan
G-SLF 7 STR	₹ 22,39,066	₹ 18,55,000
G-SLF 8 STR	₹ 22,45,046	₹ 18,60,000
GX 7 STR	₹ 23,39,222	₹ 19,40,000
GX 8 STR	₹ 23,45,202	₹ 19,45,000
VX Hybrid 7 STR	₹ 30,02,142	₹ 25,03,000
VX Hybrid 8 STR	₹ 30,08,047	₹ 25,08,000
ZX Hybrid 7 STR	₹ 35,12,405	₹ 29,35,000
ZX (O) Hybrid 7 STR	₹ 35,87,999	₹ 29,99,000
VX (O) Hybrid 7 STR	₹ 32,34,831	₹ 27,00,000
VX (O) Hybrid 8 STR	₹ 32,40,737	₹ 27,05,000

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 Innova Hycross G-SLF 7 STR will be ₹ 34,899 but you will have to pay interest of ₹ 10,76,516 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 ₹ 70,164, but your interest payment will be only ₹ 6,70,904 over the 3 years period.

₹ 37,613
Toyota Innova Hycross price starts from ₹ 22,39,066 in Mumbai.

We have considered
Down-payement : ₹ 3,84,066
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 7,47,000

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 Innova Hycross starts from ₹ 22.39 Lakh, you can get a loan with an annual income as low as ₹ 7.47 lakh.

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

• 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.