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Planning to buy Mahindra Bolero Neo? Here's your complete monthly EMI guide
Mahindra Bolero Neo is one of the most affordable rear-wheel-drive SUVs in India.
The Mahindra Bolero Neo might not be as widely selling as the other models from the brand, including Thar and Scorpio, but the Bolero Neo, which is a premium avatar of the Bolero, is a no-nonsense SUV. The Bolero Neo is also one of the most affordable rear-wheel-drive (RWD) SUVs in India. It comes as a compact SUV offering rugged RWD capabilities.
The Mahindra Bolero Neo is available in five variant choices: N4, N8, N10 (R), N10 OPT, and N11. The SUV is priced between ₹884,500 and ₹999,500 (ex-showroom), depending on the variants.
If you are planning to buy this SUV and wondering about the monthly EMI amount you have to pay, here is a quick and comprehensive look at the EMI calculation.
Mahindra Bolero Neo: Monthly EMI calculation
To calculate the monthly EMI, we have considered the top-end trim of the Bolero Neo, which is the N11, priced at ₹999,500 (ex-showroom). The rate of interest considered is 9.5%, while the repayment tenures considered are 24 months, 36 months, 48 months, and 60 months. The loan amount is considered as 100% of the ex-showroom price.
| Mahindra Bolero Neo: Monthly EMI calculation | ||||||
|---|---|---|---|---|---|---|
| Model & variant | Price (ex-showroom) | Loan (100% ex-showroom price) | Interest rate | Repayment tenure | Monthly EMI | Total interest |
| Mahindra Bolero Neo N11 | ₹999,500 | ₹999,500 | 9.5% | 24 months | ₹45,892 | ₹101,897 |
| 36 months | ₹32,017 | ₹153,110 | ||||
| 48 months | ₹25,111 | ₹205,808 | ||||
| 60 months | ₹20,991 | ₹259,982 | ||||
According to this calculation, the monthly EMI for a 24-month period will be ₹45,892, which will be ₹32,017 for a 36-month period. In the case of a 48-month period, the amount will be ₹25,111, while for a 60-month period, the amount will be reduced to ₹20,991.
