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Merico Electric scooters Finance

Are you interested in buying a new Merico Electric scooters and not able to find right deal? Not sure if you are being charged the right interest rate for your Merico Electric two wheeler loan? Check out the BikeDekho EMI calculator to find the best Merico Electric finance scheme by choosing the model that you wish to buy or calculate loan interest rate and equated monthly instalments (EMI) by entering the amount of bike loan that you wish to take.

Merico Electric Two Wheeler Loan EMI

Merico FashiaRs. 1,888
Merico Eagle-100(4.8)Rs. 1,318
Merico EvankaRs. 1,895
Merico Eagle-100(6.0)Rs. 1,544
Merico SpeedstarRs. 1,639

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Merico Electric scooters Finance Schemes

*Ex-showroom price Delhi
Merico Electric Two Wheelers by Price

FAQs for Merico Electric Finance

How is Merico Electric scooter loan EMI calculated monthly?

Merico Electric 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.

Which documents I need to have to apply for a Merico Electric two wheeler loan?

To get your Merico Electric 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.

What will be the minimum down payment for a Merico Electric Bike/Scooter loan?

The lenders generally finance 90% of the ex-showroom price of the Merico Electric 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 Merico Electric scooter. Down payment is the difference between the on-road price of the Merico Electric scooter and the amount funded by the lender.

What will be the rate of interest on a Merico Electric scooter finance?

The interest rate primarily depends on the principal amount and tenure of the loan amount of the Merico Electric two wheeler. Interest rate of lenders generally varies from 9.7% per annum to 15% per annum.

Merico Electric Scooters Further Research

Popular Merico Electric Two Wheelers

*Ex-showroom price in Delhi
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