Maruti Suzuki Esteem Car Loan EMI Calculator

₹ 9,016.
Here is how - Maruti Suzuki Esteem price starts from ₹ 4,84,112 in Delhi. If you pay a down payment of ₹ 39,437 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 9,016.

The cheapest Esteem model is LX BS-III which is priced at ₹ 4,84,112 in Delhi. You will need to pay at least a ₹ 39,437 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 Esteem.

Version	On-road price in Delhi	Max Loan
VXi BS-III	₹ 5,63,628	₹ 5,17,720
LXi BS-III	₹ 5,24,720	₹ 4,82,696
LX BS-III	₹ 4,84,112	₹ 4,44,675

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 Esteem LX BS-III will be ₹ 7,545 but you will have to pay interest of ₹ 1,89,105 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 ₹ 15,170, but your interest payment will be only ₹ 1,01,445 over the 3 years period.

₹ 9,016
Maruti Suzuki Esteem price starts from ₹ 4,84,112 in Delhi.

We have considered
Down-payement : ₹ 39,437
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 1,62,000

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 Esteem starts from ₹ 4.84 Lakh, you can get a loan with an annual income as low as ₹ 1.62 lakh.

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

• 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.