- Loan amount
- ₹15,00,000
- Interest rate
- 12% a year
- Tenure
- 2 years (24 months)
- Monthly EMI
- ₹70,610
- Total interest
- ₹1,94,645
- Total amount paid
- ₹16,94,645
- Processing fee at 2% + GST
- ₹35,400
If the rate is different
At 11.5% the EMI would be ₹70,260; at 12.5% it would be ₹70,961. Every 0.5% changes the total interest by about ₹8,418 over the full tenure.