MG Hector Plus Car Loan EMI Calculator

₹ 35,480.
Here is how - MG Hector Plus price starts from ₹ 21,78,693 in Bangalore. If you pay a down payment of ₹ 4,28,893 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 35,480.

The cheapest Hector Plus model is Style 2.0 Diesel 6 STR which is priced at ₹ 21,78,693 in Bangalore. You will need to pay at least a ₹ 4,28,893 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 Hector Plus.

Version	On-road price in Bangalore	Max Loan
Sharp Pro 1.5 Turbo Petrol MT 6 STR	₹ 25,96,475	₹ 20,92,800
Sharp Pro 1.5 Turbo Petrol CVT 6 STR	₹ 27,60,867	₹ 22,26,800
Savvy Pro 1.5 Turbo Petrol CVT 6 STR	₹ 28,82,320	₹ 23,25,800
Sharp Pro 1.5 Turbo Petrol 7 STR	₹ 25,96,475	₹ 20,92,800
Sharp Pro 1.5 Turbo Petrol CVT 7 STR	₹ 27,60,867	₹ 22,26,800
Savvy Pro 1.5 Turbo Petrol CVT 7 STR	₹ 28,82,320	₹ 23,25,800
Sharp Pro 1.5 Turbo Petrol 6 STR Dual Tone	₹ 26,21,011	₹ 21,12,800
Sharp Pro 1.5 Turbo Petrol CVT 6 STR Dual Tone	₹ 27,85,403	₹ 22,46,800
Savvy Pro 1.5 Turbo Petrol CVT 6 STR Dual Tone	₹ 29,06,856	₹ 23,45,800
Sharp Pro 1.5 Turbo Petrol 7 STR Dual Tone	₹ 26,21,011	₹ 21,12,800
Sharp Pro 1.5 Turbo Petrol CVT 7 STR Dual Tone	₹ 27,85,403	₹ 22,46,800
Savvy Pro 1.5 Turbo Petrol CVT 7 STR Dual Tone	₹ 29,06,856	₹ 23,45,800
Smart Pro 2.0 Turbo Diesel 6 STR	₹ 26,91,302	₹ 21,52,800
Sharp Pro 2.0 Turbo Diesel 6 STR	₹ 28,82,958	₹ 23,08,800
Sharp Pro 2.0 Turbo Diesel 7 STR	₹ 28,51,015	₹ 22,82,800
Sharp Pro 2.0 Turbo Diesel 6 STR Dual Tone	₹ 29,07,529	₹ 23,28,800
Sharp Pro 2.0 Turbo Diesel 7 STR Dual Tone	₹ 28,75,586	₹ 23,02,800
Style 2.0 Diesel 6 STR	₹ 21,78,693	₹ 17,49,800
Style 2.0 Diesel 7 STR	₹ 21,78,693	₹ 17,49,800
Select Pro 1.5 MT 7 STR	₹ 22,77,431	₹ 18,47,800
Select Pro 2.0 Diesel 7 STR	₹ 25,18,075	₹ 20,11,800
Sharp Pro Blackstorm 1.5 Turbo Petrol CVT 7 STR	₹ 28,00,124	₹ 22,58,800
Sharp Pro Blackstorm 2.0 Turbo Diesel 7 STR	₹ 28,96,472	₹ 23,19,800
Sharp Pro Blackstorm 2.0 Turbo Diesel 6 STR	₹ 29,22,272	₹ 23,40,800
100-Year Edition 1.5 Turbo Petrol 7 STR	₹ 27,85,403	₹ 22,46,800
100-Year Edition 2.0 Turbo Diesel 7 STR	₹ 28,94,015	₹ 23,17,800
Sharp Pro Snowstorm 1.5 Turbo CVT 7 STR	₹ 27,63,320	₹ 22,28,800
Sharp Pro Snowstorm 2.0 Turbo Diesel MT 7 STR	₹ 28,49,787	₹ 22,81,800
Sharp Pro Snowstorm 2.0 Turbo Diesel MT 6 STR	₹ 28,71,901	₹ 22,99,800

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 Hector Plus Style 2.0 Diesel 6 STR will be ₹ 33,958 but you will have to pay interest of ₹ 11,02,672 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 ₹ 68,272, but your interest payment will be only ₹ 7,07,992 over the 3 years period.

₹ 35,480
MG Hector Plus price starts from ₹ 21,78,693 in Bangalore.

We have considered
Down-payement : ₹ 4,28,893
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 7,27,000

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 Hector Plus starts from ₹ 21.79 Lakh, you can get a loan with an annual income as low as ₹ 7.27 lakh.

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

• 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.