Mahindra Thar OG EMI Calculator

Updated on November 2026

Mahindra Thar OG EMI starts at ₹19,417 per month for the 1.5L AXT Diesel RWD (₹10.32 Lakh ex-showroom, ₹11.75 Lakh on-road Faridabad), on a ₹9.03 Lakh loan at 10.5% for 60 months. Down payment: ₹2.71 Lakh. Total interest: ₹2.62 Lakh. The top 2.2L ZXT 4WD Diesel AT costs ₹35,829/month.

Also see: Thar On-road price | Thar Variants | Thar Offers

Mahindra Thar OG EMI and Down Payment

Mahindra Thar 1.5L AXT Diesel RWD – EMI calculator

Ex-showroom

: Rs. 10,32,000

On-road price

: Rs. 11,74,551 (Faridabad)

Loan amount

: Rs. 9,03,386 (On-road price - Down payment)

Down payment

: Rs. 2,71,165 (Amount paid upfront)

Monthly EMI

: Rs. 19,417 (For Tenure of 60 months @ 10.5%; banks start from 8.7%)

Insurance

: Rs. 49,671

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Mahindra Thar OG Car Loan EMI Calculator

Variant: 1.5L AXT Diesel RWD
On-road price (Faridabad): Rs. 11,74,551
Down payment: Rs. 2,71,165
Loan amount: Rs. 9,03,386
Interest rate: 10.5%
Tenure: 60 months
Monthly EMI: Rs. 19,417

EMI in advance: You pay one EMI instalment in advance to the bank. This amount is deducted from the loan amount disbursed to the dealer. Thus it gets added to the down payment that you are to make.
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EMI in arrears: You don't make any advance EMI payments. The bank disburses the loan amount minus any other one time fees. ..Read More ..Read Less

Mahindra Thar OG Car Loan EMI & Loan Breakdown

Monthly EMI

Rs. 19,417

60 months @ 10.5%

Down paymentRs. 2,71,165
Loan amountRs. 9,03,386
Total interestRs. 2,61,634
Total loan repayment (EMIs)Rs. 11,65,020
Total purchase outlayRs. 14,36,185

Total loan repayment is the EMIs only. Total purchase outlay adds the down payment, so it is what the 1.5L AXT Diesel RWD costs you over the loan; it does not include insurance renewal, fuel, maintenance or lender charges other than the processing fee.

Year	Principal paid	Interest paid	Outstanding loan
Year 1 Months 1-12	Rs. 1,44,995	Rs. 88,009	Rs. 7,58,391
Year 2 Months 13-24	Rs. 1,60,973	Rs. 72,031	Rs. 5,97,418
Year 3 Months 25-36	Rs. 1,78,714	Rs. 54,290	Rs. 4,18,704
Year 4 Months 37-48	Rs. 1,98,408	Rs. 34,596	Rs. 2,20,296
Year 5 Months 49-60	Rs. 2,20,296	Rs. 12,708	Rs. 0

Mahindra Thar OG Car Loan Interest Rates – Bank Comparison

Lending Partners	Interest Rate	EMI Starting From (60 Months)
HDFC Bank	8.85% onwards	Rs. 18,687 (60 months)
ICICI Bank	9% onwards	Rs. 18,753 (60 months)
Axis Bank	9.15% onwards	Rs. 18,819 (60 months)
Bank of Baroda	8.7% onwards	Rs. 18,622 (60 months)

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Mahindra Thar OG EMI by Loan Tenure

For a Rs. 9,03,386 loan on the 1.5L AXT Diesel RWD at 10.5%.

Tenure	EMI	Total Interest	Total Payable
36 months	Rs. 29,362	Rs. 1,53,646	Rs. 10,57,032
48 months	Rs. 23,130	Rs. 2,06,854	Rs. 11,10,240
60 months	Rs. 19,417	Rs. 2,61,634	Rs. 11,65,020
84 months	Rs. 15,232	Rs. 3,76,102	Rs. 12,79,488

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Mahindra Thar OG

4.8 36 user reviews

Starts at ₹ 10.32 Lakh

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Mahindra Thar OG Variant-Wise EMI

On-road prices in Faridabad. Every variant uses the same rule: the loan runs 60 months at 10.5%, and the down payment is the on-road price minus the loan.

Thar Variants	Fuel/Transmission	Ex-showroom	On-road Price	Loan @10.5%	Down Payment	EMI (60 months)
1.5L AXT Diesel RWD	Diesel / Manual	Rs. 10,32,000	Rs. 11,74,551	Rs. 9,03,386	Rs. 2,71,165	Rs. 19,417
1.5L LXT Diesel RWD	Diesel / Manual	Rs. 12,99,000	Rs. 14,75,132	Rs. 11,38,521	Rs. 3,36,611	Rs. 24,471
1.5L ZXT Diesel RWD	Diesel / Manual	Rs. 13,99,000	Rs. 15,87,709	Rs. 12,26,587	Rs. 3,61,122	Rs. 26,364
2.0L LXT RWD Petrol AT	Petrol / Automatic	Rs. 14,76,500	Rs. 16,93,940	Rs. 12,94,838	Rs. 3,99,102	Rs. 27,831
2.0L LXT 4WD Petrol	Petrol / Manual	Rs. 15,59,500	Rs. 17,87,521	Rs. 13,67,932	Rs. 4,19,589	Rs. 29,402
2.0L ZXT RWD Petrol AT	Petrol / Automatic	Rs. 16,09,000	Rs. 18,43,331	Rs. 14,11,525	Rs. 4,31,806	Rs. 30,339
2.2L LXT 4WD Diesel	Diesel / Manual	Rs. 16,42,500	Rs. 18,81,101	Rs. 14,41,027	Rs. 4,40,074	Rs. 30,973
2.2L LXT RWD Diesel AT	Diesel / Automatic	Rs. 16,49,000	Rs. 18,88,430	Rs. 14,46,751	Rs. 4,41,679	Rs. 31,096
2.0L ZXT 4WD Petrol	Petrol / Manual	Rs. 16,60,000	Rs. 19,00,832	Rs. 14,56,438	Rs. 4,44,394	Rs. 31,305
2.0L LXT 4WD Petrol AT	Petrol / Automatic	Rs. 17,22,500	Rs. 19,71,299	Rs. 15,11,479	Rs. 4,59,820	Rs. 32,488
2.2L ZXT 4WD Diesel	Diesel / Manual	Rs. 17,49,000	Rs. 20,01,177	Rs. 15,34,816	Rs. 4,66,361	Rs. 32,989
2.2L ZXT RWD Diesel AT	Diesel / Automatic	Rs. 17,49,000	Rs. 20,01,177	Rs. 15,34,816	Rs. 4,66,361	Rs. 32,989
2.0L ZXT 4WD Petrol AT	Petrol / Automatic	Rs. 17,75,000	Rs. 20,30,491	Rs. 15,57,713	Rs. 4,72,778	Rs. 33,481
2.2L LXT 4WD Diesel AT	Diesel / Automatic	Rs. 17,99,500	Rs. 20,58,115	Rs. 15,79,290	Rs. 4,78,825	Rs. 33,945
2.2L ZXT 4WD Diesel AT	Diesel / Automatic	Rs. 18,99,000	Rs. 21,70,298	Rs. 16,66,915	Rs. 5,03,383	Rs. 35,829

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How Is the Mahindra Thar OG EMI Calculated?

EMI = [P × r × (1 + r)ⁿ] ÷ [(1 + r)ⁿ − 1], where P is the loan amount, r is the monthly interest rate {(annual rate ÷ 12) ÷ 100} and n is the tenure in months. For the 1.5L AXT Diesel RWD variant: P = ₹9.03 Lakh, r = (10.5 ÷ 12) ÷ 100 = 0.00875 and n = 60 months, which gives an EMI of ₹19,417.

The calculation starts from the Faridabad on-road price of ₹11.75 Lakh (ex-showroom ₹10.32 Lakh plus insurance, RTO and other charges).

Factors That Affect Your Mahindra Thar OG Loan EMI

Down payment: Every ₹1 lakh of extra down payment lowers the EMI by about ₹2,149 at 10.5% for 60 months.
Interest rate: A rate 1% higher adds about ₹451 to the EMI on a ₹9.03 Lakh loan. Starting rates from the banks on this page range from 8.7% to 9.15%.
Loan tenure: Over 36 months the EMI is ₹29,362; over 84 months it drops to ₹15,232 but you pay ₹2.22 Lakh more in interest.
Variant and city: In Faridabad the EMI ranges from ₹19,417 (1.5L AXT Diesel RWD) to ₹35,829 (2.2L ZXT 4WD Diesel AT). The on-road price, and with it the loan, changes from city to city with RTO charges and insurance.

EMI of Mahindra Thar OG Rivals – Bayon, Sierra, Creta

Starting EMI of each model's base variant, worked out the same way as the Mahindra Thar OG: the down payment is the on-road price minus the loan.

Model	On-road Price	EMI	Tenure	Interest Rate	Compare
Hyundai Bayon HX 2 Petrol MT	Rs. 11,28,415	Rs. 18,827	60 months	10.5%	Compare with Thar
Tata Sierra Smart Plus	Rs. 13,28,766	Rs. 21,632	60 months	10.5%	Compare with Thar
Hyundai Creta E	Rs. 12,66,134	Rs. 20,528	60 months	10.5%	Compare with Thar
Mahindra XUV 3XO MX1	Rs. 9,38,741	Rs. 14,646	60 months	10.5%	Compare with Thar

Frequently Asked Questions About Mahindra Thar OG EMI

What is the monthly EMI for the Mahindra Thar OG?

₹19,417 a month for the 1.5L AXT Diesel RWD, on a ₹9.03 Lakh loan at 10.5% for 5 years. The top 2.2L ZXT 4WD Diesel AT works out to ₹35,829.

How much down payment is required for the Mahindra Thar OG?

About ₹2.71 Lakh for the 1.5L AXT Diesel RWD in Faridabad. That's the on-road price of ₹11.75 Lakh minus the ₹9.03 Lakh loan.

How does the loan tenure affect the Mahindra Thar OG EMI?

Over 3 years the EMI is ₹29,362 and you pay ₹1.54 Lakh in interest. Stretch it to 7 years and the EMI drops to ₹15,232, but interest rises to ₹3.76 Lakh.

Is the Mahindra Thar OG EMI calculated on the ex-showroom price or the on-road price?

On the on-road price. In Faridabad the 1.5L AXT Diesel RWD costs ₹11.75 Lakh on-road, which includes ₹49,671 insurance and ₹92,880 RTO and other charges.