SUV Under Loan: Maruti Victoris EMI Comes to ₹21,636 Per Month

Maruti Suzuki, one of the leading automakers, offers the Maruti Victoris as a mid-size SUV. If you are considering purchasing the automatic variant offered by the manufacturer and want to bring home the car after making a down payment of ₹2 lakh, how much EMI will you have to pay each month? 

Maruti Suzuki has different models of the Victoria. The automatic model is named VXI. The automatic SUV VXI costs ₹13.36 lakh (ex-showroom, Maruti Victoria Price). If you are purchasing this car in Delhi, you will have to pay around ₹1.34 lakh as RTO charges and around ₹62 thousand as insurance. There are also approximately ₹13,500 TCS charges. After paying all these charges, the on-road price of the Victoria will be around ₹15.45 lakh.

If you are opting for the automatic model, the bank will only finance the ex-showroom price. Therefore, after paying a down payment of ₹2 lakh, you will have to pay around ₹13.45 lakh to the bank. If the bank gives you Rs 13.45 lakh for seven years with 9% interest, then you will have to pay an EMI of Rs 21,636 per month for the next seven years.

If you take a car loan of Rs 13.45 lakh from the bank for seven years with an interest rate of 9%, then you will have to pay an EMI of Rs 21636 every month for seven years. In such a situation, in seven years you will pay around Rs 4.72 lakh as interest for Maruti Victoris. After which the total price of your car including ex-showroom, on-road and interest will be around Rs 20.17 lakh.

Maruti Suzuki is offering Victoris as an SUV larger than four meters. This car competes directly in the market with SUVs like Maruti Grand Vitara, Kia Seltos, Hyundai Creta, Honda Elevate, Mahindra XUV 700, Scorpio N.