What is the interest rate for Renault Triber car?

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Q : What is the interest rate for Renault Triber car?

Renault Triber EMI

Ex-showroom Price of Renault Triber : ₹ 6,00,000
Loan Amount : ₹ 5,10,000
Down Payment : ₹ 90,000

Document Charges : Rs.250
Processing Fee : ₹ 2,550
MonthsEMIChart
12₹ 44,308View Chart
24₹ 23,168View Chart
36₹ 16,142View Chart
48₹ 12,643View Chart
60₹ 10,555View Chart
72₹ 9,173View Chart
84₹ 8,194View Chart
A : The interest rate for Renault Triber is Renault Triber 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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