- Loan amount
- ₹7,00,000
- Interest rate
- 12% a year
- Tenure
- 3 years (36 months)
- Monthly EMI
- ₹23,250
- Total interest
- ₹1,37,001
- Total amount paid
- ₹8,37,001
- Processing fee at 2% + GST
- ₹16,520
If the rate is different
At 11.5% the EMI would be ₹23,083; at 12.5% it would be ₹23,418. Every 0.5% changes the total interest by about ₹6,031 over the full tenure.