Mahindra Bolero Maxitruck Plus EMI Calculator
Mahindra Bolero Maxitruck Plus EMI starts at Rs 16,647 per month for a tenure of 60 months @ 9.8 for a loan amount of Rs 7.87 Lakh. The EMI Calculator tool on CarDekho gives a detailed break-up of the total payable amount and helps you in finding best car finance for your Bolero Maxitruck Plus.
Mahindra Bolero Maxitruck Plus Down Payment and EMI
Mahindra Bolero Maxi Truck Plus Variants | Loan @ rate% | Down payment | EMI Amount(60 months) |
---|---|---|---|
Mahindra Bolero Maxi Truck Plus 1.2 | 9.8 | Rs.88,320 | Rs.16,817 |
Mahindra Bolero Maxi Truck Plus CBC PS 1.2 | 9.8 | Rs.87,417 | Rs.16,647 |
Mahindra Bolero Maxi Truck Plus CNG PS | 9.8 | Rs.90,353 | Rs.17,205 |
Mahindra Bolero Maxi Truck Plus PS 1.2 | 9.8 | Rs.88,771 | Rs.16,891 |
Calculate your Loan EMI for Bolero Maxitruck Plus
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Frequently Asked Questions On Bolero Maxitruck Plus Emi
What will be the lowest down payment for Mahindra Bolero Maxitruck Plus?
The lenders generally finance 90% of the On-Road Price of the Mahindra Bolero Maxitruck Plus. Some customers might be eligible for 100% funding, too. Down payment is the difference between the On-Road Price of the Mahindra Bolero Maxitruck Plus and the amount funded by the lender.
What will be the monthly EMI for the Mahindra Bolero Maxitruck Plus?
EMIs or Equated Monthly Installments refer to the monthly payments you make to the lender to repay your loan. These payments include the principal amount as well as the interest i.e. EMI = Principal Amount + Interest on Principal amount. Mathematically, EMI for the Mahindra Bolero Maxitruck Plus can be calculated using the following formula:
{P x R x (1+R)^N / [(1+R)^N-1]}
where, P = Principal amount of the loan, R = Rate of interest and N = Number of monthly installments.
For Example:- If the principal amount for a car loan is Rs. 7.87 Lakh- on an annual rate of interest of 9.8% for a tenure of 5 years then EMI will be Rs 16,647. The rate of interest (R) on your loan is calculated monthly i.e. (R= Annual rate of interest/12/100). For instance, if R = 9.8% per annum, then R= 9.8/12 = 0.81%/month .
What will be the interest rate for the Mahindra Bolero Maxitruck Plus?
Interest rate for the Mahindra Bolero Maxitruck Plus primarily depends on the principal amount and tenure of the loan amount. Interest rate of lenders generally varies from 8.75% per annum to 11.50% per annum. If a customer holds an account with the financier then he may have a pre-approved new car loan offer available for him which can be verified by logging into his account. Customers can also negotiate with the financier for a better rate of interest against their loan amount.
What will be the EMI for 5 years tenure for the Mahindra Bolero Maxitruck Plus?
EMI for the Mahindra Bolero Maxitruck Plus for 5 years tenure can be calculated as per the following formula:-
{P x R x (1+R)^N / [(1+R)^N-1]}
Where, P = Principal amount of the loan, R = Rate of interest, N = Number of monthly installments which will be per month in case of 5 years tenure.
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