Maruti Suzuki Versa Car Loan EMI Calculator

₹ 7,443.
Here is how - Maruti Suzuki Versa price starts from ₹ 3,67,059 in Kapurthala. If you pay a down payment of ₹ 0 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 7,443.

Here is a model wise list of max loan amount for Versa.

Version	On-road price in Kapurthala	Max Loan
DX BS-III	₹ 4,61,634	₹ 4,36,479
DX2 BS-III	₹ 5,00,957	₹ 4,74,026
STD BS-III	₹ 3,85,363	₹ 3,63,653

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 Versa Std 5 STR BS-III will be ₹ 5,721 but you will have to pay interest of ₹ 1,13,505 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 ₹ 11,502, but your interest payment will be only ₹ 47,013 over the 3 years period.

₹ 7,443
Maruti Suzuki Versa price starts from ₹ 3,67,059 in Kapurthala.

We have considered
Down-payement : ₹ 0
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 1,23,000

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 Versa starts from ₹ 3.67 Lakh, you can get a loan with an annual income as low as ₹ 1.23 lakh.

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

• 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.