- Loan amount
- ₹10,00,000
- Interest rate
- 12% a year
- Tenure
- 2 years (24 months)
- Monthly EMI
- ₹47,073
- Total interest
- ₹1,29,763
- Total amount paid
- ₹11,29,763
- Processing fee at 2% + GST
- ₹23,600
If the rate is different
At 11.5% the EMI would be ₹46,840; at 12.5% it would be ₹47,307. Every 0.5% changes the total interest by about ₹5,612 over the full tenure.