It is very easy to calculate the EMI for your truck loan. You will get EMI as soon as you enter the required loan amount and the interest rate. Installment in EMI calculator is calculated on reducing balance. As per the rules of financing institutions, processing fee or possible charges may be applicable which are not shown in the EMI we calculate.
Frequently Asked Questions on ER 1 Total Steel EMI
What will be the lowest down payment for ER 1 Total Steel?
The lenders generally finance 90% of the On-Road Price of the ER 1 Total Steel. Some customers might be eligible for 100% funding, too. The down payment is the difference between the On-Road Price of the ER 1 Total Steel and the amount funded by the lender.
What will be the interest rate for the ER 1 Total Steel?
The interest rate for the ER 1 Total Steel primarily depends on the principal amount and tenure of the loan amount. The interest rate of lenders generally varies from 8.75% per annum to 11.50% per annum. Customers can also negotiate with the financier for a better rate of interest against their loan amount.