EMI Chart on ₹ 1,000 Financed
|
|
Years |
1 |
2 |
3 |
4 |
5 |
|
Flat Rates |
|
9.00% |
90.83 |
49.17 |
35.28 |
28.33 |
24.17 |
|
9.50% |
91.25 |
49.58 |
35.69 |
28.75 |
24.58 |
|
10.00% |
91.67 |
50.00 |
36.11 |
29.17 |
25.00 |
|
10.50% |
92.08 |
50.42 |
36.53 |
29.58 |
25.42 |
|
11.00% |
92.50 |
50.83 |
36.94 |
30.00 |
25.83 |
|
11.50% |
92.92 |
51.25 |
37.36 |
30.42 |
26.25 |
|
12.00% |
93.33 |
51.67 |
37.78 |
30.83 |
26.67 |
|
12.50% |
93.75 |
52.08 |
38.19 |
31.25
|
27.08 |
|
13.00% |
94.17 |
52.50 |
38.61
|
31.67 |
27.50 |
|
13.50% |
94.58 |
52.92 |
39.03 |
32.08 |
27.92 |
|
14.00% |
95.00 |
53.33 |
39.44 |
32.50 |
28.33 |
-
The above flat rates will hold good for Lease as well as Hire Purchase.
-
Following Structures are common in Lease/HP
-
Security Deposit : A percentage of the financed amount is taken upfront and
refunded at the end of the tenure along with interest. EMI is calculated on the
amount financed.
-
Down Payment : A percentage of the asset value is taken as margin and the EMI
is calculated on the net financed amount.
-
EMIs in advance : A few instalments are taken in advance adjusted against the
last few EMIs.
-
A management/processing fee or service charge generally 1% to 3% is charged
upfront.
-
The lessee/hirer has to bear other costs like VAT, insurance, registration, stamp duty,
etc. at actuals.
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