Planning to buy the new Tata Nexon EV and wondering how much EMI would you have to pay? Here’s a table showing the variant-wise on-road (Delhi) price of the Tata electric SUV, and the lowest monthly installment you would have to shell out for it, keeping in mind an average tenure, ROI, as well as down payment –
| Variant | On-road price* (estimated) |
Tenure | Interest rate |
Down payment | EMI |
| Creative + MR | Rs 15.52 lakh | 5 years | 10% | Rs 3 lakh | Rs 26,608 |
| Fearless MR | Rs 17.04 lakh | 5 years | 10% | Rs 3.5 lakh | Rs 28,768 |
| Fearless + MR | Rs 17.56 lakh | 5 years | 10% | Rs 3.52 lakh | Rs 29,836 |
| Fearless + S MR | Rs 18.09 lakh | 5 years | 10% | Rs 3.6 lakh | Rs 30,777 |
| Empowered MR | Rs 18.77 lakh | 5 years | 10% | Rs 3.8 lakh | Rs 31,797 |
| Fearless LR | Rs 19.13 lakh | 5 years | 10% | Rs 3.83 lakh | Rs 32,511 |
| Fearless + LR | Rs 19.65 lakh | 5 years | 10% | Rs 3.95 lakh | Rs 33,367 |
| Fearless + S LR | Rs 20.18 lakh | 5 years | 10% | Rs 4 lakh | Rs 34,371 |
| Empowered + LR | Rs 20.96 lakh | 5 years | 10% | Rs 4.2 lakh | Rs 35,613 |
*Prices mentioned are before any subsidies and tax benefits.
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To simplify the process, we have chosen an average tenure period of five years as standard, along with approximately 20% down payment amount, and an estimated 10% bank interest rate. Do note that the buyer is free to decide the tenure for which he/she will be taking the loan for, whereas the interest rate varies from one bank to another. Moreover, you can also choose to pay a higher or a lower down payment, which will decrease or increase your equated monthly installment (EMI) respectively.
Tata Motors is offering the 2023 Nexon EV facelift in two guises – MR (Mid Range) and LR (Long Range). Prices for the electric SUV start from Rs 14.74 lakh, going up to Rs 19.94 lakh (ex-showroom). However, the estimated on-road (Delhi) price of the Tata Nexon EV ranges from Rs 15.52 lakh to Rs 20.96 lakh.
Do let us know in the comments down below if you’d like to know the loan EMI for any other car, motorcycle or scooter of your choice!