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Joy E-Rik V1 EMI Calculator

Joy E-Rik V1three-wheelers

3.85 Lakh*

EMI Starts @ ₹6,223/month

Calculate your Loan EMI for Joy E-Rik V1

Joy
E-Rik V1

Ex-Showroom Price ₹3,85,000*

Calculate your Loan EMI for Joy E-Rik V1 Change Model

Joy E-Rik V1 EMI

EMI starting from

₹ 0 per month

₹ 0₹ 3,85,000

Principal Amount

₹ 3,46,500

Interest Amount

₹ 0

₹ 0

Down Payment

₹38,500

Bank Interest Rate

12.57%

Loan Period (Months)

84

12243648607284

*Processing fee and other loan charges are not included.

Disclaimer:- Applicable rate of interest can vary subject to credit profile. Loan approval is at the sole discretion of the finance partner.

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Joy E-Rik V1 Loan EMI Calculator

Joy E-Rik V1 Loan EMI starts at ₹ 6223 per month with a down payment of ₹ 38,500 for 84 months tenure at the interest rate of 12.57% (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 three wheeler finance options for your E-Rik V1. That will give you a detail insights of your purchase.

Joy E-Rik V1 Down Payment and EMI

Brand Model LOAN @ RATE% DOWN PAYMENT EMI AMOUNT(84 MONTHS)
Joy E-Rik V1 12.57% ₹ 38,500 ₹ 6,223

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        FAQs about E-Rik V1 EMI

        Joy E-Rik V1 EMI depends upon various factors like three wheeler loan amount, loan tenure and the interest rate charged by various lenders. Althought it starts from ₹ 6,223 with the down payment of ₹ 38,500 at the interest rate of 10% for 5 year (varies from bank to bank).

        It Depends upon bank to bank and other lending institutions. Otherwise Banks’ interest rates start from 7.50% and goes up to 24% per annum.

        Joy E-Rik V1 Minimum down payment starts from ₹ 38,500. Lenders typically finance 90% of the ex-showroom price whereas some customers are eligible for 100% funding.

        You will have to pay ₹ 38,500 as a down payment for the amount Rs.10% of Ex-showroom Price @15% for 60 months, the monthly EMI will be ₹ 6,223.

        Following documents are required for Joy E-Rik V1 loan :

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

        The 2024 price for the Joy E-Rik V1 starts from ₹ 3.85 Lakh Onwards . Although it can vary slightly from state to state and city to city.

        To calculate the Equated Monthly Installment (EMI) for a Joy E-Rik V1, you'll need to consider the loan amount, interest rate, and loan tenure.

        Formula for Joy E-Rik V1 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 Joy E-Rik V1 where you can avail of excellent deals and purchase the Joy E-Rik V1 with the most affordable monthly EMI.

        Joy is here to redefine affordability with our exclusive EMI offer for the mighty Joy E-Rik V1. Get ready to own the road with this unbeatable deal! Don't miss out on this incredible opportunity.

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