Maruti Suzuki Ignis Car Loan EMI Calculator

₹ 11,840.
Here is how - Maruti Suzuki Ignis price starts from ₹ 6,60,823 in Ranchi. If you pay a down payment of ₹ 76,875 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 11,840.

The cheapest Ignis model is Sigma 1.2 MT which is priced at ₹ 6,60,823 in Ranchi. You will need to pay at least a ₹ 76,875 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 Ignis.

Version	On-road price in Ranchi	Max Loan
Sigma 1.2 MT	₹ 6,60,823	₹ 5,83,948
Delta 1.2 MT	₹ 7,19,964	₹ 6,37,948
Delta 1.2 AMT	₹ 7,74,440	₹ 6,87,948
Zeta 1.2 MT	₹ 7,83,488	₹ 6,95,948
Zeta 1.2 MT Dual Tone	₹ 8,13,019	₹ 7,09,948
Zeta 1.2 AMT	₹ 8,52,779	₹ 7,45,948
Alpha 1.2 MT	₹ 8,69,895	₹ 7,60,948
Zeta 1.2 AMT Dual Tone	₹ 8,68,563	₹ 7,60,000
Alpha 1.2 MT Dual Tone	₹ 8,85,508	₹ 7,74,948
Alpha 1.2 AMT	₹ 9,24,506	₹ 8,10,948
Alpha 1.2 AMT Dual Tone	₹ 9,41,093	₹ 8,25,000

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 Ignis Sigma 1.2 MT will be ₹ 10,300 but you will have to pay interest of ₹ 2,81,252 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 ₹ 20,708, but your interest payment will be only ₹ 1,61,540 over the 3 years period.

₹ 11,840
Maruti Suzuki Ignis price starts from ₹ 6,60,823 in Ranchi.

We have considered
Down-payement : ₹ 76,875
Tenure : 5 years
Interest Rate : 8%

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

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

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 Ignis starts from ₹ 6.61 Lakh, you can get a loan with an annual income as low as ₹ 2.21 lakh.

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

• 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.