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M2GO scooters Finance
M2GO Two Wheeler Loan EMI
| MODEL | EMI (36 MONTHS) |
|---|---|
| M2GO Civitas | Rs. 3,811 |
| M2GO X1 | Rs. 3,320 |
M2GO scooters Finance Schemes
FAQs for M2GO Finance
Q) How is M2GO scooter loan EMI calculated monthly?
A) M2GO scooter loan EMIs include the principal amount as well as the interest i.e. EMI = Principal Amount + Interest on Principal amount. Mathematically, EMI can be calculated using the following formula: {P x R x (1+R)^N / [(1+R)^N-1]} where, P = Principal amount of the loan, R = Rate of interest and N = Number of monthly installments.
Q) Which documents I need to have to apply for a M2GO two wheeler loan?
A) To get your M2GO scooter loan application with the selected lender, you would be required to submit your KYC documents, which include your identity proof and current address proof, a copy of your PAN Card, your bank statement and your income proofs (Form 16/Salary Slips/ITR). You can get the exact requirement from your loan consultant after applying with us.
Q) What will be the minimum down payment for a M2GO Bike/Scooter loan?
A) The lenders generally finance 90% of the ex-showroom price of the M2GO two wheeler. Some customers might be eligible for 100% funding too. This means the minimum possible down payment that you have to pay includes the RTO and insurance charges for the M2GO scooter. Down payment is the difference between the on-road price of the M2GO scooter and the amount funded by the lender.
Q) What will be the rate of interest on a M2GO scooter finance?
A) The interest rate primarily depends on the principal amount and tenure of the loan amount of the M2GO two wheeler. Interest rate of lenders generally varies from 9.7% per annum to 15% per annum.
M2GO Scooters Further Research
Popular M2GO Two Wheelers
M2GO X1Rs 1.11 Lakh*- M2GO CivitasRs 1.27 Lakh*