New Delhi: Tata Motors has a strong presence in the Indian automobile market with a range of cars from 5-seaters to 7-seater models. The prices of these vehicles start at ₹5 lakh and go beyond ₹25 lakh. Among these, Tata Tiago stands out as the most affordable car from Tata Motors. The ex-showroom price of the Tata Tiago starts at ₹5 lakh and goes up to ₹8.45 lakh. Additionally, the car has received a 4-star safety rating in the Global NCAP crash test, making it a safe choice for buyers.
How Much Loan Can You Get to Buy Tata Tiago on EMI?
Tata Tiago is available in 17 different variants and comes in six color options. The most budget-friendly variant is the XE (Petrol), which has an on-road price of ₹5.56 lakh in New Delhi. Buyers can also purchase this car through a loan, making it more accessible. Based on the loan amount and interest rates offered by banks, buyers need to pay a fixed EMI every month until the loan is fully repaid. Once all EMIs are paid, the car will be fully owned by the buyer.
To purchase the Tata Tiago, a minimum down payment of ₹56,000 is required. Depending on the loan tenure and interest rate, here’s how much EMI you will need to pay:
- 4-Year Loan Tenure: If you take a loan for 4 years with a 9% interest rate, the EMI will be approximately ₹12,500 per month.
- 5-Year Loan Tenure: If you opt for a 5-year loan at a 9% interest rate, your monthly EMI will be around ₹10,400.
- 6-Year Loan Tenure: For a 6-year loan with the same 9% interest rate, the EMI will be ₹9,000 per month.
- 7-Year Loan Tenure: If you choose a 7-year loan term, you will need to pay ₹8,000 as EMI every month.
Before applying for a car loan, it is advisable to read all the terms and conditions carefully. Since different banks have varying policies, the loan amount, interest rate, and EMI may vary. Comparing offers from multiple banks can help you get the best deal for your Tata Tiago purchase.