MG Windsor EV EMI in Mumbai: down payment and monthly EMI for 3, 5 and 7 years
By Arjun Ramanarayanan, IndiCar · Published 13 October 2026 · Tips
The MG Windsor EV EMI in Mumbai runs from Rs 20,379 a month (EXCITE, 7 years) to Rs 51,825 a month (ESSENCE PRO, 3 years), with a 20 percent down payment from Rs 3,16,665.
On IndiCar's Mumbai price list, the MG Windsor EV needs a down payment of Rs 3,16,665 to Rs 4,07,431 and an EMI of Rs 20,379 to Rs 51,825 a month, depending on the variant and the loan term. The lowest EMI is the EXCITE Electric Automatic over 7 years. The highest is the ESSENCE PRO Electric Automatic over 3 years. All figures below use the same assumptions, so you can compare variants and terms directly.
The assumptions behind every figure
These are IndiCar's own Mumbai prices from the price list dated 22 September 2026. Each EMI assumes a down payment of 20 percent of the on-road price, with the rest taken as a loan at 9 percent a year on a reducing balance. Real bank rates vary with your profile, so your actual EMI can differ. The figures cover the loan only; they say nothing about running costs.
EXCITE Electric Automatic: EMI from Rs 20,379 a month
The on-road price is Rs 15,83,326. The down payment is Rs 3,16,665 and the loan is Rs 12,66,661.
- 3 years: Rs 40,279 a month, total interest Rs 1,83,383
- 5 years: Rs 26,294 a month, total interest Rs 3,10,979
- 7 years: Rs 20,379 a month, total interest Rs 4,45,175
ESSENCE Electric Automatic: EMI from Rs 23,504 a month
The on-road price is Rs 18,26,072. The down payment is Rs 3,65,214 and the loan is Rs 14,60,858.
- 3 years: Rs 46,455 a month, total interest Rs 2,11,522
- 5 years: Rs 30,325 a month, total interest Rs 3,58,642
- 7 years: Rs 23,504 a month, total interest Rs 5,13,478
ESSENCE PRO Electric Automatic: EMI from Rs 26,221 a month
The on-road price is Rs 20,37,157. The down payment is Rs 4,07,431 and the loan is Rs 16,29,726.
- 3 years: Rs 51,825 a month, total interest Rs 2,35,974
- 5 years: Rs 33,830 a month, total interest Rs 4,00,074
- 7 years: Rs 26,221 a month, total interest Rs 5,72,838
All three variants side by side
| Variant | On-road price | Down payment | Loan | 3 years | 5 years | 7 years |
|---|---|---|---|---|---|---|
| EXCITE | Rs 15,83,326 | Rs 3,16,665 | Rs 12,66,661 | Rs 40,279 | Rs 26,294 | Rs 20,379 |
| ESSENCE | Rs 18,26,072 | Rs 3,65,214 | Rs 14,60,858 | Rs 46,455 | Rs 30,325 | Rs 23,504 |
| ESSENCE PRO | Rs 20,37,157 | Rs 4,07,431 | Rs 16,29,726 | Rs 51,825 | Rs 33,830 | Rs 26,221 |
What the loan term does to your cost
A longer term lowers the EMI but raises the interest you pay in total. On the EXCITE, moving from 3 years to 7 years cuts the EMI from Rs 40,279 to Rs 20,379 a month, while total interest rises from Rs 1,83,383 to Rs 4,45,175. The same pattern shows on the ESSENCE (interest Rs 2,11,522 at 3 years, Rs 5,13,478 at 7 years) and the ESSENCE PRO (Rs 2,35,974 at 3 years, Rs 5,72,838 at 7 years).
On the EXCITE the 5-year term brings the EMI to Rs 26,294, against Rs 40,279 at 3 years, with total interest of Rs 3,10,979 rather than Rs 4,45,175 at 7 years. If your monthly budget allows the 3-year EMI, you pay the least interest. If it only fits at 7 years, you pay the most, so keep that in mind before choosing it.
Which variant suits which budget
- EXCITE suits you if the lowest outlay matters most: the smallest down payment (Rs 3,16,665) and the lowest EMI at every term shown.
- ESSENCE sits in the middle, with a down payment of Rs 3,65,214. Its 5-year EMI is Rs 30,325.
- ESSENCE PRO has the highest outlay: a down payment of Rs 4,07,431 and a 5-year EMI of Rs 33,830.
This guide holds no feature details, so confirm the feature sheet for each variant with IndiCar before you decide whether a step up is worth the extra EMI.
How to buy the MG Windsor EV through IndiCar
- Open the MG Windsor EV page and pick your variant.
- Check the itemised on-road price, or run your own numbers in the on-road price calculator.
- Choose your down payment and loan term using the tables above.
Buying a new car through IndiCar
IndiCar sells new cars in Mumbai, Navi Mumbai and Thane. You buy a new car from IndiCar at the on-road price shown on its car page, with every line itemised: ex-showroom, registration, insurance, TCS and FASTag. You book online with a refundable reservation, and IndiCar sources the car from partner dealer stock and handles the registration, insurance, paperwork and delivery.
You deal only with IndiCar from quote to delivery. Your phone number is never passed to a dealer, and you do not need to take the quote to a showroom to negotiate. See on-road prices and book or get a WhatsApp quote on +91 85916 41004.
Frequently asked questions
What is the down payment for the MG Windsor EV in Mumbai?
At 20 percent of the on-road price, it is Rs 3,16,665 for the EXCITE, Rs 3,65,214 for the ESSENCE and Rs 4,07,431 for the ESSENCE PRO.
What is the lowest monthly EMI for the MG Windsor EV?
Rs 20,379 a month, on the EXCITE Electric Automatic over 7 years, at 9 percent a year on a reducing balance with a 20 percent down payment.
What is the EMI for the ESSENCE PRO over 5 years?
Rs 33,830 a month on a loan of Rs 16,29,726, with total interest of Rs 4,00,074.
How much interest do I pay on the ESSENCE over 3 years compared with 7 years?
Total interest is Rs 2,11,522 over 3 years and Rs 5,13,478 over 7 years. The EMI is Rs 46,455 at 3 years and Rs 23,504 at 7 years.
Will my actual bank rate match these figures?
Not necessarily. Every figure assumes 9 percent a year on a reducing balance. Real bank rates vary with the buyer's profile.
Tags: mg windsor ev, emi, car loan, mumbai, down payment, electric car