- Loan amount
- ₹3,00,000
- Interest rate
- 12% a year
- Tenure
- 3 years (36 months)
- Monthly EMI
- ₹9,964
- Total interest
- ₹58,715
- Total amount paid
- ₹3,58,715
- Processing fee at 2% + GST
- ₹7,080
If the rate is different
At 11.5% the EMI would be ₹9,893; at 12.5% it would be ₹10,036. Every 0.5% changes the total interest by about ₹2,585 over the full tenure.