- Loan amount
- ₹10,00,000
- Interest rate
- 12% a year
- Tenure
- 1 year (12 months)
- Monthly EMI
- ₹88,849
- Total interest
- ₹66,185
- Total amount paid
- ₹10,66,185
- Processing fee at 2% + GST
- ₹23,600
If the rate is different
At 11.5% the EMI would be ₹88,615; at 12.5% it would be ₹89,083. Every 0.5% changes the total interest by about ₹2,809 over the full tenure.