- Loan amount
- ₹3,00,000
- Interest rate
- 12% a year
- Tenure
- 2 years (24 months)
- Monthly EMI
- ₹14,122
- Total interest
- ₹38,929
- Total amount paid
- ₹3,38,929
- Processing fee at 2% + GST
- ₹7,080
If the rate is different
At 11.5% the EMI would be ₹14,052; at 12.5% it would be ₹14,192. Every 0.5% changes the total interest by about ₹1,684 over the full tenure.