- Loan amount
- ₹3,00,000
- Interest rate
- 12% a year
- Tenure
- 5 years (60 months)
- Monthly EMI
- ₹6,673
- Total interest
- ₹1,00,400
- Total amount paid
- ₹4,00,400
- Processing fee at 2% + GST
- ₹7,080
If the rate is different
At 11.5% the EMI would be ₹6,598; at 12.5% it would be ₹6,749. Every 0.5% changes the total interest by about ₹4,563 over the full tenure.