Tata Nexon EV Car Loan EMI Calculator

₹ 25,325.
Here is how - Tata Nexon EV price starts from ₹ 13,23,507 in Mumbai. If you pay a down payment of ₹ 74,507 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 25,325.

The cheapest Nexon EV model is Creative Plus Medium Range which is priced at ₹ 13,23,507 in Mumbai. You will need to pay at least a ₹ 74,507 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 Nexon EV.

Version	On-road price in Mumbai	Max Loan
Creative Plus Medium Range	₹ 13,23,507	₹ 12,49,000
Fearless Medium Range	₹ 14,07,111	₹ 13,29,000
Fearless Long Range	₹ 15,49,780	₹ 14,59,000
Fearless Plus Medium Range	₹ 14,59,364	₹ 13,79,000
Fearless Plus Long Range	₹ 16,06,201	₹ 15,09,000
Fearless Plus (S) Medium Range	₹ 15,11,616	₹ 14,29,000
Fearless Plus (S) Long Range	₹ 16,27,137	₹ 15,29,000
Empowered Medium Range	₹ 15,63,869	₹ 14,79,000
Empowered Plus Long Range	₹ 17,31,817	₹ 16,29,000
Empowered Plus Long Range Dark Edition	₹ 17,52,753	₹ 16,49,000
Creative 45	₹ 14,86,972	₹ 13,99,000
Fearless 45	₹ 15,91,653	₹ 14,99,000
Empowered 45	₹ 17,00,413	₹ 15,99,000
Empowered Plus 45	₹ 18,05,093	₹ 16,99,000
Empowered Plus 45 Red Dark Edition	₹ 18,26,029	₹ 17,19,000

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 Nexon EV Creative Plus Medium Range will be ₹ 20,628 but you will have to pay interest of ₹ 4,83,752 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 ₹ 41,474, but your interest payment will be only ₹ 2,44,064 over the 3 years period.

₹ 25,325
Tata Nexon EV price starts from ₹ 13,23,507 in Mumbai.

We have considered
Down-payement : ₹ 74,507
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 4,42,000

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 Nexon EV starts from ₹ 13.24 Lakh, you can get a loan with an annual income as low as ₹ 4.42 lakh.

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

• 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.