- Loan amount
- ₹5,00,000
- Interest rate
- 12% a year
- Tenure
- 1 year (12 months)
- Monthly EMI
- ₹44,424
- Total interest
- ₹33,093
- Total amount paid
- ₹5,33,093
- Processing fee at 2% + GST
- ₹11,800
If the rate is different
At 11.5% the EMI would be ₹44,308; at 12.5% it would be ₹44,541. Every 0.5% changes the total interest by about ₹1,404 over the full tenure.