What is the interest rate for Ford Figo car?

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Q : What is the interest rate for Ford Figo car?

Ford Figo EMI

Ex-showroom Price of Ford Figo : ₹ 5,64,000
Loan Amount : ₹ 4,79,400
Down Payment : ₹ 84,600

Document Charges : Rs.250
Processing Fee : ₹ 2,397
MonthsEMIChart
12₹ 41,649View Chart
24₹ 21,778View Chart
36₹ 15,173View Chart
48₹ 11,884View Chart
60₹ 9,922View Chart
72₹ 8,623View Chart
84₹ 7,703View Chart
A : The interest rate for Ford Figo is Ford Figo 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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