- Loan amount
- ₹15,00,000
- Interest rate
- 12% a year
- Tenure
- 3 years (36 months)
- Monthly EMI
- ₹49,821
- Total interest
- ₹2,93,573
- Total amount paid
- ₹17,93,573
- Processing fee at 2% + GST
- ₹35,400
If the rate is different
At 11.5% the EMI would be ₹49,464; at 12.5% it would be ₹50,180. Every 0.5% changes the total interest by about ₹12,923 over the full tenure.