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MG Gloster EMI Calculator

MG Gloster EMI starts at Rs 65,399 per month for a tenure of 60 months @ 9.8 for a loan amount of Rs 30.92 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 Gloster.

MG Gloster Down Payment and EMI

MG Gloster VariantsLoan @ rate%Down paymentEMI Amount(60 months)
MG Gloster Savvy 6-Str9.800000190734863Rs.4.18 LakhRs.79,731
MG Gloster Sharp 6-Str9.800000190734863Rs.4.02 LakhRs.76,609
MG Gloster Sharp 7-Str9.800000190734863Rs.3.98 LakhRs.75,926
MG Gloster Smart 6-Str9.800000190734863Rs.3.67 LakhRs.69,887
MG Gloster Super 7-Str9.800000190734863Rs.3.43 LakhRs.65,399

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Calculate your Loan EMI for Gloster

Down PaymentRs.0
0Rs.0
Bank Interest Rate 8 %
8%22%
Loan Period ( Years )
  • Total Loan AmountRs.0
  • Payable AmountRs.0
  • You''ll pay extraRs.0
EMIper month
Rs0
Calculated on On Road Price
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*Ex-showroom Price in New Delhi

Frequently Asked Questions On Gloster Emi

What will be the lowest down payment for MG Gloster?

The lenders generally finance 90% of the On-Road Price of the MG Gloster. Some customers might be eligible for 100% funding, too. Down payment is the difference between the On-Road Price of the MG Gloster and the amount funded by the lender.

What will be the monthly EMI for the MG Gloster?

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 MG Gloster 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. 30.92 Lakh- on an annual rate of interest of 9.8% for a tenure of 5 years then EMI will be Rs 65,399. 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 MG Gloster?

Interest rate for the MG Gloster 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 MG Gloster?

EMI for the MG Gloster 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.

Running cost of your car

KM driven per day20 km/day
Monthly fuel costRs.0* / month

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Disclaimer : As per the information entered by you the calculation is performed by EMI Calculator and the amount of installments does not include any other fees charged by the financial institution / banks like processing fee, file charges, etc. The amount is in Indian Rupee rounded off to the nearest Rupee. Depending upon type and use of vehicle, regional lender requirements and the strength of your credit, actual down payment and resulting monthly payments may vary. Exact monthly installments can be found out from the financial institution.

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