- Loan amount
- ₹1,00,000
- Interest rate
- 12% a year
- Tenure
- 2 years (24 months)
- Monthly EMI
- ₹4,707
- Total interest
- ₹12,976
- Total amount paid
- ₹1,12,976
- Processing fee at 2% + GST
- ₹2,360
If the rate is different
At 11.5% the EMI would be ₹4,684; at 12.5% it would be ₹4,731. Every 0.5% changes the total interest by about ₹561 over the full tenure.