Piaggio and SBI Signed an MoU to Offer Intrest Free Auto Loans in UP
Piaggio and SBI will finance three-wheelers in UP at 0% interest under CM Yuva Yojana. Here's the real math, who qualifies, and how to apply first.
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E-Maggic Plus EMI Calculator
Check monthly EMI, interest, lender comparison, scenarios and repayment details in one place.
Ex-Showroom Price
₹3.45L
Fuel Type
Electric
Motor
BLDC Motor
Finance
E-Maggic Plus EMI Calculator
Select variant, adjust loan details, compare scenarios and review full repayment details.
Truck Price
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Price will update the EMI estimate
E-Maggic Plus (₹3,45,000)
Credit Score
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Auto-adjusts interest rate
Estimated Monthly EMI
₹5,132
Calculated on ₹2,41,500 loan at 10% for 5 years.
Down Payment
₹1,03,500
Loan Principal
₹2,41,500
Total Interest
₹66,420
Total Cost
₹4,11,420
Cost Breakup
Down Payment
₹1,03,500
Amount paid upfront before finance starts.
Loan
₹2,41,500
Interest
₹66,420
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Loan inputs
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Change down payment, tenure and rate to see the monthly EMI update instantly.
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₹1,00,000₹3,45,000
₹
₹0₹2,45,000
%
7%25%
Yr
1 Year7 Years
Down Payment Insight
Increase down payment by ₹50,000 → EMI drops by ₹1,063 and you save ₹63,780 in total interest.
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Recommended: 5 Years
Balances affordable EMI (₹5,132) with lowest total interest.
Lender Comparison— ₹2,41,500 · 5 yr · 10% base
| Bank / NBFC | Rate | Proc. Fee | EMI |
|---|---|---|---|
BESTMahindra Finance | 8.5% | ₹2,999 | ₹4,955 |
SBI | 8.75% | ₹0 | ₹4,984 |
ICICI Bank | 9.1% | ₹3,999 | ₹5,025 |
HDFC Bank | 9.25% | ₹3,500 | ₹5,043 |
Axis Bank | 9.5% | ₹3,500 | ₹5,072 |
* Rates are indicative. Actual rate depends on your CIBIL score and lender policy.
- Processing fee and other loan charges are not included in this calculation.
- The calculated EMI assumes 10% interest rate. Actual rate may vary based on your credit profile and lender.
- Loan approval is at the sole discretion of the finance partner.
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E-Maggic Plus Price FAQs
What is the on-road price of the E Maggic Plus in India?
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The on-road price varies by state and variant, typically ranging from INR 4.5 lakhs to INR 5.5 lakhs, including taxes and registration charges.
Are there different variants available for the E Maggic Plus?
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Yes, it usually comes in a standard deck variant, and sometimes with different fuel options like CNG, offering flexibility to meet diverse buyer needs and budgets.
What are the typical EMI options available for purchasing an E Maggic Plus?
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EMI options depend on down payment and loan tenure. Monthly installments can start from INR 8,000 to INR 12,000, subject to bank approvals and prevailing interest rates.
How is the resale value of the E Maggic Plus in the used vehicle market?
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The E Maggic Plus generally holds a good resale value due to its popularity, low running costs, and consistent demand in the commercial vehicle segment across India.
What factors influence the final on-road price of the E Maggic Plus?
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The final price is affected by ex-showroom price, RTO charges, insurance costs, and any optional accessories or schemes available at the dealership at the time of purchase.