What is the interest rate for Mahindra Scorpio car?

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Q : What is the interest rate for Mahindra Scorpio car?

Mahindra Scorpio EMI

Ex-showroom Price of Mahindra Scorpio : ₹ 9,32,715
Loan Amount : ₹ 7,92,808
Down Payment : ₹ 1,39,907

Document Charges : Rs.250
Processing Fee : ₹ 3,964
MonthsEMIChart
12₹ 68,878View Chart
24₹ 36,016View Chart
36₹ 25,093View Chart
48₹ 19,654View Chart
60₹ 16,409View Chart
72₹ 14,260View Chart
84₹ 12,739View Chart
A : The interest rate for Mahindra Scorpio is Mahindra Scorpio Interest Rate

The term Interest Rate means the amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets. Interest rates are typically noted on an annual basis, known as the annual percentage rate (APR). The assets borrowed could include, cash, consumer goods, large assets, such as a vehicle or building. Interest is essentially a rental, or leasing charge to the borrower, for the asset's use. In the case of a large asset, like a vehicle or building, the interest rate is sometimes known as the "lease rate". When the borrower is a low-risk party, they will usually be charged a low interest rate; if the borrower is considered high risk, the interest rate that they are charged will be higher. Interest is charged by lenders as compensation for the loss of the asset's use. In the case of lending money, the lender could have invested the funds instead of lending them out. With lending a large asset, the lender may have been able to generate income from the asset should they have decided to use it themselves.

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