Car Loan for Renault Kwid Car Loan: Features & Benefits
Availing of a Renault Kwid Car is one of the simplest processes. It has features that would definitely catch your eye. Those features are:
| Features | Car Loan |
| Interest Rate |
9.8% onwards
|
| Processing Fee |
1% of the amount
|
| Loan Tenure | 5 years |
| Lowest EMI | Rs. 6,651 |
| Loan Amount | 3.14 lakhs |
| Prepayment Charges | – |
Renault Kwid Car Loan Eligibility Criteria
In order to avail of the Renault Kwid Car Loan one has to meet the eligibility criteria set by the bank for the same. The eligibility criteria is:
| Eligibility Criteria | Eligibility Details |
| Age | 21 years – 60 years |
| Minimum Annual Income |
Salaried: ₹ 0.01 Lakh Lakhs
Self Employed Professionals: ₹ 0.01 Lakhs Self Employed Businessmen: ₹ 0.01 Lakhs |
| Minimum Credit Score | 700 and above |
| Loan Tenure | 5 years |
| Loan to Value Ratio |
100% of ex-showroom price
|
Renault Kwid Car Loan EMI Calculator
Each bank has different offers available for various kinds of loans, however, the best way to understand the terms and conditions of the loan and the amount they would have to pay if they borrow a certain amount can be better understood by the use of a Car Loan EMI Calculator. This allows all individuals to understand and to assess if they need this particular loan now or not and it also gives them the leverage to plan their expenses around this. This would result in lesser tension for the applicants.
- The method in which Renault Kwid Loan EMI calculates your EMI would be way different from any other banks that you might have dealt with.
- However, in the end, all the banks do use the same basic formula to calculate their EMI value which needs to be told/informed to the applicant. The formula that they use is:
E= P. r. (1+r)n/[(1+r) n -1]
- E: denotes the monthly payment or EMI.
- P: denotes the main amount for which you wish to apply.
- r: is the monthly interest rate computed as a percentage of yearly income,
- n: is the loan term in months.
Renault Kwid Car Loan Interest Rate, Fees, and Charges
| Interest Rate |
9.8% onwards
|
| Processing Fee |
1% of the amount
|
| Foreclosure Charges |
3-6% after 6 months and no foreclosure charges for less than 6 months
|
| Documentation Fees |
Rs. 500, non-refundable
|
| Penalty for Late Payment |
3% each month
|
| Financing Quantum |
up to 100% depending on customer profile
|
Documents Required for Renault Kwid Car Loan
If the applicant meets the criteria then only the bank would accept their request for the loan. The required documents are:
Individual |
Documentation |
Salaried Applicant |
Two Passport-size photocopies of your tax identification number (PAN)
Aadhaar, Passport/ Driving License/ Voter ID/ PAN are all acceptable forms of identification. Automobile quote Passport, Leave and License, Registered Rent Agreement, Utility Bill (up to 3 months old), Residential Address Proof. 3 months pay stubs, 2 years Form 16, 3 months bank statement displaying salary credit and any EMI debit Vehicle Registration and Insurance |
Self Employed Applicant |
Two Passport Size Photo Copy of Income Tax PAN (Filled Out Loan Application Form)
Aadhaar, Passport, Driving License, Voter ID, and PAN is all acceptable forms of identification. Car price quote Proof of residential address – leave and license/registered rent agreement/utility bill (up to 3 months old), Passport. Income Documents – 3 months pay stubs, 2 years of Form 16, 3 months bank statement displaying income credit and any EMI debit. Vehicle Registration and Insurance |
Renault Kwid Car
Engine and Transmission
| Engine Type | Petrol Engine |
| Displacement (cc) | 999cc |
| Max Power |
67bhp@5500rpm
|
| Max Torque |
91Nm@4250rpm
|
| No. of cylinder | 3 |
| Valves Per Cylinder | 4 |
| Valve Configuration | DOHC |
| TransmissionType | Automatic |
| Gear Box | 5 speed |
Renault Kwid Car Price
The prices for Renault KWID starts from Rs. 3.18 lakhs. The price of the lowest model is the Renault KWID STD and the most expensive model is the Renault KWID Climber 1.0 AMT Opt which costs Rs. 5.39 lakhs. Compared primarily with Renault Kiger price in New Delhi starting Rs. 5.45 Lakh and Maruti Alto 800 price in New Delhi starting Rs. 2.99 Lakh.
Prices of Maruti Suzuki Dzire Ex-showroom Delhi
| Model Variant | Key specs |
Ex-Showroom Price
|
| KWID STD | 799 cc, Manual, Petrol, 22.3 kmpl | 3.18 lakhs |
| KWID RXE | 799 cc, Manual, Petrol, 20.71 kmpl | 3.88 lakhs |
| KWID RXL | 799 cc, Manual, Petrol, 20.71 kmpl | 4.18 lakhs |
| KWID Neotech | 799 cc, Manual, Petrol, 21.74 kmpl | 4.37 lakhs |
| KWID 1.0 RXL | 999 cc, Manual, Petrol, 21.74 kmpl | 4.40 lakhs |
Downpayment required for Renault Kwid Car loan
The Kwidwas initially developed specifically under the project with the name BBA. It is one of the first cars to be completely based on the new CMF-A platform which was jointly developed by Renault and Nissan. It is a bit longer than Renault’s smallest conventional vehicle, the Twingo is with a higher sitting position and a 180 mm ride height. Having all these features is what makes it one of the most sought after cars. Hence the downpayment required to avail of the Renault Kwid Car loan would be a bit higher.
About Renault Kwid
The entry of the Renault Kwid was first produced as a crossover by Renault, it was initially intended for the Indian market and was launched into the market in 2015. Around 2017, another revised version was produced to be introduced into the Latin American markets. The Renault City K-ZE, an electric car built on the Kwid, was launched in 2019 in China.
How to get Renault Kwid Loan
Getting a Maruti Suzuki Dzire Car loan would be one of your best life decisions. Having the new structure altogether with extraordinary facilities on the interiors, this is one of the must-have’s. Because of this, all the banks and NBFC would not be able to completely fund the whole value of such a modern car for their customers.
To protect the needs of such customers in distress, the solution to all of this would be to avail a car loan for the Mahindra Alturas G4 Car can be done with the help of India’s first and the best Financial Helpline, Dialabank.
To apply for a loan, visit our website at Dialabank or You could contact us at 9878981166
FAQs Car Loan for Renault Kwid
✅ Is Renault Kwid a good investment?
Yes, Renault Kwid is definitely one of the best investments that you would make in your life.
✅ What is the Renault Kwid’s on-road price?
Renault Kwid’s on-road price ranges from 3.18 lakhs to 5.39 lakhs.
✅ What are the documents required to be submitted for a car loan for Renault Kwid?
The documents required would be the usual identity documents, income proof documents, residence documents, and photo proof.
✅ What is the processing fee for a Renault Kwid car loan?
The processing fee for the Renault Kwid Car loan is 1% of the loan amount
