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.
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.
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