Affordable SUV: Demand for compact and micro SUVs is growing rapidly in the Indian automobile market these days, with the Maruti Fronx, Tata Nexon, and Hyundai Exter emerging as the strongest contenders. Equipped with stunning looks and high-tech features, these vehicles are not only the preferred choice of young people but are also proving to be a sound investment for middle-class families.
If you’re considering purchasing one of these cars in 2026 and are wondering which one will offer the lowest EMI, this article will be the perfect guide. Here, we’ll analyze in detail the monthly instalment calculations for these three powerful cars, based on a down payment of ₹1 lakh and an interest rate of 9%.
Price
The loan and EMI are directly related to the car’s ex-showroom price, so it’s crucial to first understand the starting prices of these three SUVs. The Hyundai Xcent’s base model is the most affordable on this list, with an ex-showroom price starting at just ₹5.79 lakh, making it a viable option for budget-conscious customers.
The Maruti Suzuki Fronx, meanwhile, starts at around ₹7.50 lakh for its base variant, which comes with premium looks and Maruti’s assurance. The Tata Nexon, considered a powerhouse of safety, starts at around ₹8.00 lakh, making it slightly more expensive than the other two, and therefore, its EMI will be the highest.
₹1 Lakh Down Payment
Suppose you make an initial down payment of ₹1 lakh to purchase your favorite car and take a loan from a bank for the remaining amount for 5 years (60 months) at an annual interest rate of 9%. In this case, your monthly EMI for the Hyundai Xcent will be the lowest, at approximately ₹11,380, which is a significant saving for those on a tight budget.
Meanwhile, for the Maruti Suzuki Fronx, you will have to pay an EMI of approximately ₹13,000 to ₹14,000 per month, making it a balanced and viable choice. As for the Tata Nexon, due to its higher price, you will have to pay a monthly EMI of approximately ₹14,500 to ₹15,500, which represents a significant difference of approximately ₹3,500 to ₹4,000 per month compared to the Xcent.
Loan Term and Interest
If you want to repay your loan quickly and save substantially on interest, you’ll need to keep the loan term shorter, which will slightly increase your monthly installment. For example, if you choose a 4-year loan term for a Hyundai Xcent instead of a 5-year loan term, your monthly installment will increase to ₹13,642.
If you want to repay it in just 3 years, you’ll have a monthly installment of approximately ₹17,432. The shorter the loan term, the less interest you’ll pay to the bank, which will be a significant financial advantage in the long run, although this will require a larger portion of your monthly income to be used for installments.