- Loan amount
- ₹10,00,000
- Interest rate
- 12% a year
- Tenure
- 5 years (60 months)
- Monthly EMI
- ₹22,244
- Total interest
- ₹3,34,667
- Total amount paid
- ₹13,34,667
- Processing fee at 2% + GST
- ₹23,600
If the rate is different
At 11.5% the EMI would be ₹21,993; at 12.5% it would be ₹22,498. Every 0.5% changes the total interest by about ₹15,209 over the full tenure.