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Cars that will fit into your monthly income of Rs 30,000

Car Loan

There is something with car that attracts everyone. It could be the design, features, technology, interiors, exteriors, etc. We all dream to own the car and have it in reality after a certain point of time. While taking the car loan, one has to factor in equated monthly installments (EMIs), the sum of principal and interest that get deducted each month from your pocket. Ideally, the EMI should be within the range of 20%-30%. But If the EMI goes beyond the said range, then your financial life can be disrupted in a big way as you may not be left with much to spend on necessary things like rent and other household expenses. So select the car that will fit into your budget. If you have a monthly income of Rs 30,000 and aspire to buy a car, you can get a list of models including Tata Tiago, Tata Indica eV2, Maruti Suzuki Celerio, Hyundai i10 to choose from.

Tata Tiago

ParticularsCost
Ex-Showroom price (New Delhi)Rs 3,20,000
RTO Rs 18,300
InsuranceRs 14,103
On-road price Rs 3,52,403
Estimated Down PaymentRs 50,000

Note-Ex-showroom price, RTO, insurance costs will differ across different locations

Table showing EMIs, interest and total amount payout on loan from various banks to buy Tata Tiago

Bank NameMin Loan AmountEst. Max Loan amountMax TenureInterest RateEst.EMIEst. Interest AmountEst. total amount (Principal+Interest)
SBIRs 1 lacRs 3 lacs7 years9.80%Rs 4,949 Rs 1,15,750 Rs 4,15,750
ICICI BankRs 1 lacRs 2.5 lacs5 years10.25%Rs 5,297Rs 67,820Rs 3,18,795
HDFC BankRs 1 lacRs 2.7 lacs5 years9.90%Rs 5,677 Rs 70,620Rs 3,43,196
Axis BankRs 1 lacRs 3 lacs5 years10.25% Rs 6,411 Rs 84,665Rs 3,84,665
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Tata Indica eV2

ParticularsCost
Ex-Showroom price (New Delhi)Rs 3,95,766
RTO Rs 21,260
InsuranceRs 17,227
On-road price Rs 4,34,253
Estimated Down PaymentRs 59,365

Note-Ex-showroom price, RTO, insurance costs will differ across different locations

Table showing EMIs, interest and total amount payout on loan from various banks to buy Tata Indica eV2

Bank NameMin Loan Amount
(In Rs.)
Est. Max Loan amount
(In Rs.)
Max Tenure
(In Years)
Interest RateEst.EMI
(In Rs.)
Est. Interest Amount
(In Rs.)
Est. total amount (Principal+Interest)
(In Rs.)
SBI1 lac3.65 lacs5 9.80%6,0221,40,8305,05,830
ICICI Bank1 lac2.8 lacs5 10.25%5,93375,9803,57,030
HDFC Bank1 lac3.2 lacs5 9.90%6,728 83,6804,06,256
Axis Bank1 lac4.1 lacs5 10.25%8,6881,11,280 5,21,280

Maruti Suzuki Celerio

ParticularsCost
Ex-Showroom price (New Delhi)Rs 4,03,139
Registration ChargesRs 2,000
RTO Rs 23,626
InsuranceRs 14,594
On-road price Rs 4,43,359
Estimated Down PaymentRs 60,471

Note-Ex-showroom price, RTO, insurance costs will differ across different locations

Table showing EMIs, interest and total amount payout on loan from various banks to buy Maruti Suzuki Celerio

Bank NameMin Loan Amount
(In Rs.)
Est. Max Loan amount
(In Rs.)
Max Tenure
(In Years)
Interest RateEst.EMI
(In Rs.)
Est. Interest Amount
(In Rs.)
Est. total amount (Principal+Interest)
(In Rs.)
SBI1 lac3.75 lacs79.80%6,1871,44,6885,19,688
ICICI Bank1 lac2.9 lacs5 10%6,11176,6603,67,735
HDFC Bank1 lac2.9 lacs79.90%4,760 1,09,8404,02,416
Axis Bank1 lac3.7 lacs5 10.25%7,8401,00,4004,70,400

Fiat Punto Pure

ParticularsCost
Ex-Showroom price (New Delhi)Rs 4,53,702
RTO Rs 25,648
InsuranceRs 18,878
On-road price Rs 4,98,228
Estimated Down PaymentRs 68,055
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Note-Ex-showroom price, RTO, insurance costs will differ across different locations

Table showing EMIs, interest and total amount payout on loan from various banks to buy Fiat Punto Pure

Bank NameMin Loan Amount
(In Rs.)
Est. Max Loan amount
(In Rs.)
Max Tenure
(In Years)
Interest RateEst.EMI
(In Rs.)
Est. Interest Amount
(In Rs.)
Est. total amount (Principal+Interest)
(In Rs.)
SBI1 lac4.23 lacs79.80%6,9791,63,208 5,86,208
ICICI Bank1 lac3.7 lacs5 10%7,79697,7604,69,035
HDFC Bank1 lac4.2 lacs59.90% 8,8301,09,8005,32,376
Axis Bank1 lac4.7 lacs5 10.25%9,9591,27,5405,97,540

Hyundai i10

ParticularsCost
Ex-Showroom price (New Delhi)Rs 4,34,878
RTO Rs 27,156
InsuranceRs 15,379
On-road price Rs 4,77,413
Estimated Down PaymentRs 65,232

Note-Ex-showroom price, RTO, insurance costs will differ across different locations

Table showing EMIs, interest and total amount payout on loan from various banks to buy Hyundai i10

Bank NameMin Loan Amount
(In Rs.)
Est. Max Loan amount
(In Rs.)
Max Tenure
(In Years)
Interest RateEst.EMI
(In Rs.)
Est. Interest Amount
(In Rs.)
Est. total amount (Principal+Interest)
(In Rs.)
SBI1 lac4.05 lacs79.80%6,6821,56,263 5,61,263
ICICI Bank1 lac3.3 lacs710.25%5,4741,29,8164,60,991
HDFC Bank1 lac3.1 lacs79.90% 5,0881,17,392 4,29,968
Axis Bank1 lac4 lacs5 10.25%8,5481,12,8865,12,886

 (Updated on: 27th October, 2016)

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Personal Loan Interest Rates September 2020
Fullerton India14.00% - 33.00%
HDFC Bank10.75% - 21.45%
ICICI Bank10.75% - 18.49%
IndusInd Bank11.25%
Kotak Bank10.99% - 20.99%
RBL17.50% - 24.00%
Standard Chartered Bank11.00% - 15.00%
Tata Capital10.99% - 18.00%
Home Loan Interest Rates September 2020
Axis Bank7.75% - 8.55%
Bank of Baroda7.00% - 8.40%
Citibank8.20%
HDFC6.95% - 8.00%
ICICI Bank6.95% - 8.05%
Indiabulls Housing Finance Limited8.80% - 11.05%
Kotak Bank7.20% - 9.30%
LIC Housing6.90% - 7.90%
Piramal Capital & Housing Finance9.00% - 9.10%
PNB Housing Finance8.60% - 9.45%
Reliance Home Finance8.75% - 14.00%
State Bank of India/SBI6.95% - 7.60%
Tata Capital9.20% - 9.35%