Tata Magic Express School EMI Calculator

Down Payment

₹67,217.8

Bank Interest Rate

13%

Loan Period(Months)

EMI

per month

₹0

Calculated on Ex-showroom Price

*Ex-showroom Price

₹6,72,178

Priciple amount

₹6,04,960.2

Total interest

₹0

Total Amount

₹0

Tata Magic Express School Loan EMI Calculator

Tata Magic Express School Loan EMI starts at ₹ 13765 per month with a down payment of ₹ 67,217.8 for 60 months tenure at the interest rate of 13% (depends upon the bank). You can choose the EMI options for the given loan amount on quarterly, half-yearly, and yearly basis. Note that each option will alter the amount of EMI payment.

Our CMV360 EMI Calculator tool helps you to break down the total payable amount and to find the best truck finance options for your Magic Express School. That will give you a detail insights of your purchase.

Tata Magic Express School Down Payment and EMI

Brand Model	LOAN @ RATE%	DOWN PAYMENT	EMI AMOUNT(60 MONTHS)
Tata Magic Express School	13%	₹ 67,217.8	₹ 13,765

Tata Magic Express School Similar Buses

Mahindra Supro School Van

Ex-showroom Price

₹ 6.19 Lakh

Tata City Ride Skool

Ex-showroom Price

₹ 20.65 Lakh

Force Traveller 26 School Bus

Ex-showroom Price

₹ 17.29 Lakh

Tata Starbus EV 4 12 Low Entry Electric Bus

Ex-showroom Price

₹ 2.2 Cr

Tata Starbus Ultra School

Ex-showroom Price

₹ 28.38 Lakh

Frequently Asked Questions

Tata Magic Express School EMI depends upon various factors like bus loan amount, loan tenure and the interest rate charged by various lenders. Althought it starts from ₹ 13,765 with the down payment of ₹ 67,217.8 at the interest rate of 13% for 5 year (varies from bank to bank).

It Depends upon bank to bank and other lending institutions. Otherwise Banks’ interest rates start from 10% and goes up to 24% per annum.

Tata Magic Express School Minimum down payment starts from ₹ 67,217.8. Lenders typically finance 90% of the ex-showroom price whereas some customers are eligible for 100% funding.

You will have to pay ₹ 67,217.8 as a down payment for the amount Rs.10% of Ex-showroom Price @15% for 60 months, the monthly EMI will be ₹ 13,765.

Following documents are required for Tata Magic Express School loan :

Identity Proof
Address Proof
Income Proof
Bank Statements
Vehicle Details
Business Proof
Photographs

The 2024 price for the Tata Magic Express School starts from ₹ 6.72 Lakh Onwards . Although it can vary slightly from state to state and city to city.

To calculate the Equated Monthly Installment (EMI) for a Tata Magic Express School, you'll need to consider the loan amount, interest rate, and loan tenure.

Formula for Tata Magic Express School EMI Calculation: The formula for calculating EMI is as follows:

EMI = [P x R x (1+R)^N] / [(1+R)^N-1]

EMI: Equated Monthly Installment

P: Principal loan amount (the loan amount)

R: Monthly interest rate (annual rate divided by 12 and expressed as a decimal)

N: Loan tenure in months

CMV360 assists you in locating the closest dealerships on Tata Magic Express School where you can avail of excellent deals and purchase the Tata Magic Express School with the most affordable monthly EMI.

Tata is here to redefine affordability with our exclusive EMI offer for the mighty Tata Magic Express School. Get ready to own the road with this unbeatable deal! Don't miss out on this incredible opportunity.