MG Comet EV EMI Calculator

The MG Comet EV is available at an ex-showroom price starting from ₹7.50 L. With an EV loan, you can finance up to 80-90% of the vehicle cost. Most banks offer EV-specific loans at interest rates 0.5-1% lower than regular auto loans, making electric vehicles more affordable than ever.

At the current interest rate of 8.5% for a 5-year tenure, your monthly EMI for MG Comet EV works out to ₹12,307. The total interest payable over the loan tenure is ₹1,38,580, bringing your total repayment to ₹7.38 L.

Additionally, under Section 80EEB of the Income Tax Act, you can claim a deduction of up to ₹1.5 lakh on the interest paid on your EV loan, potentially saving you up to ₹45,000 in taxes. This makes the effective cost of your EV loan significantly lower compared to a petrol car loan.

For the best EMI deal on MG Comet EV, we recommend comparing offers from SBI (starting 8.25%), HDFC Bank (8.5%), ICICI Bank (8.75%), and Bank of Baroda (8.3%). Many banks also offer pre-approved EV loans with faster processing and zero foreclosure charges.