Toyota Innova Hycross Car Loan EMI Calculator

₹ 40,431.
Here is how - Toyota Innova Hycross price starts from ₹ 24,63,061 in Mumbai. If you pay a down payment of ₹ 4,69,061 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 40,431.

The cheapest Innova Hycross model is GX 7 STR which is priced at ₹ 24,63,061 in Mumbai. You will need to pay at least a ₹ 4,69,061 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
GX 7 STR	₹ 24,63,061	₹ 19,94,000
GX 8 STR	₹ 24,69,087	₹ 19,99,000
VX Hybrid 7 STR	₹ 31,71,048	₹ 26,46,000
VX Hybrid 8 STR	₹ 31,76,954	₹ 26,51,000
ZX Hybrid 7 STR	₹ 37,02,839	₹ 30,85,000
ZX (O) Hybrid 7 STR	₹ 37,78,433	₹ 31,49,000
VX (O) Hybrid 7 STR	₹ 34,04,918	₹ 28,44,000
VX (O) Hybrid 8 STR	₹ 34,10,824	₹ 28,49,000
GX (O) 7 STR	₹ 25,74,561	₹ 21,41,000
GX (O) 8 STR	₹ 25,58,025	₹ 21,27,000
ZX (O) Hybrid 7 STR Exclusive Edition	₹ 39,07,179	₹ 32,58,000

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 GX 7 STR will be ₹ 38,390 but you will have to pay interest of ₹ 12,30,760 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 ₹ 77,183, but your interest payment will be only ₹ 7,84,588 over the 3 years period.

₹ 40,431
Toyota Innova Hycross price starts from ₹ 24,63,061 in Mumbai.

We have considered
Down-payement : ₹ 4,69,061
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 ₹ 8,22,000

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 ₹ 24.63 Lakh, you can get a loan with an annual income as low as ₹ 8.22 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.