Question 1

What will be the lowest down payment for Corrit Electric Transit?

Accepted Answer

The lenders generally finance 90% of the value of the . Some customers might be eligible for 100% funding too. The down payment is the difference between the on-road price of the  and the amount funded by a lender. This means the minimum possible down payment that you have to pay for Corrit Electric Transit includes the RTO and insurance charges.

Question 2

What will be the monthly EMI for Corrit Electric Transit?

Accepted Answer

EMIs or Equated Monthly Installments refer to the monthly payments you make to the lender to repay your loan. These payments include the principal amount as well as the interest i.e. EMI = Principal Amount + Interest on Principal amount. Mathematically, EMI for Corrit Electric Transit can be calculated using the following formula:
{P x R x (1+R)^N / [(1+R)^N-1]}
where, P = Principal amount of the loan, R = Rate of interest and N = Number of monthly installments.
For Example:- If the principal amount for a bike loan is Rs. ₹1,28,996/- on an annual rate of interest of 10% for a tenure of 3 years then 
EMI = 128996 * 0.008333*(1+ 0.008333)^36 / ((1+ 0.008333)^36)-1 = Rs 4,144/-
The rate of interest (R) on your loan is calculated monthly i.e. (R= Annual rate of interest/12/100). For instance, if R = 10% per annum, then R= 10%/12 = 0.008333.

Question 3

What will be the interest rate for Corrit Electric Transit?

Accepted Answer

The interest rate for Corrit Electric Transit primarily depends on the principal amount and tenure of the loan amount. Interest rate of lenders generally varies from 9.7% per annum to 15% per annum. Customers can also negotiate with the financier for a better rate of interest against their loan amount.

Question 4

What will be the EMI for 3 years tenure for Corrit Electric Transit?

Accepted Answer

EMI for Corrit Electric Transit for 3 years tenure can be calculated as per the following formula:-
{P x R x (1+R)^N / [(1+R)^N-1]}
Where, P = Principal amount of the loan, R = Rate of interest, N = Number of monthly installments which will be 36 in case of 3 years tenure.

Question 5

How much time Corrit Electric Transit will take to charge?

Accepted Answer

Corrit Electric Transit will take total 3.5 Hr to charge from 0-100 percent.

Question 6

What is the range offered by Corrit Electric Transit on a full charge?

Accepted Answer

Corrit Electric Transit offers range of 140 km/charge.

Question 7

Does Corrit Electric Transit need a license?

Accepted Answer

Yes, it is required to have a driving license to drive Corrit Electric Transit.

Question 8

What is the top speed of Corrit Electric Transit?

Accepted Answer

Top speed of Corrit Electric Transit is 70 km/Hr.

Question 9

What is the battery capacity of Corrit Electric Transit?

Accepted Answer

Battery Capacity of Corrit Electric Transit is 2.9 Kwh.

Question 10

What is the max speed of Corrit Electric Transit?

Accepted Answer

The max speed of Corrit Electric Transit is 70 km/Hr.

Question 11

What is the driving range of Corrit Electric Transit?

Accepted Answer

The driving range of Corrit Electric Transit is 140 km/charge.

Question 12

What is the battery type of Corrit Electric Transit?

Accepted Answer

Corrit Electric Transit uses the best Lithium-ion battery.

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