Mahindra REVAi Car Loan EMI Calculator

₹ 7,587.
Here is how - Mahindra REVAi price starts from ₹ 4,03,874 in Mumbai. If you pay a down payment of ₹ 29,693 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 7,587.

The cheapest REVAi model is Standard which is priced at ₹ 4,03,874 in Mumbai. You will need to pay at least a ₹ 29,693 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 REVAi.

Version	On-road price in Mumbai	Max Loan
Standard	₹ 4,03,874	₹ 3,74,181
AC	₹ 4,54,573	₹ 4,21,564
Classe	₹ 4,89,307	₹ 4,54,025

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 REVAi Standard will be ₹ 6,295 but you will have to pay interest of ₹ 1,54,599 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 ₹ 12,656, but your interest payment will be only ₹ 81,435 over the 3 years period.

₹ 7,587
Mahindra REVAi price starts from ₹ 4,03,874 in Mumbai.

We have considered
Down-payement : ₹ 29,693
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 1,35,000

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 REVAi starts from ₹ 4.04 Lakh, you can get a loan with an annual income as low as ₹ 1.35 lakh.

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

• 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.