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.
Finance
E-Maggic Plus EMI Calculator
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E-Maggic Plus (₹3,45,000)
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Down PaymentLoanInterest
Monthly EMI
₹5,132
Down Payment₹1,03,500
Loan Principal₹2,41,500
Total Interest₹66,420
Total Cost₹4,11,420
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₹1,00,000₹3,45,000
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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.
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E-Maggic Plus EMI
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