- Loan amount
- ₹7,00,000
- Interest rate
- 12% a year
- Tenure
- 5 years (60 months)
- Monthly EMI
- ₹15,571
- Total interest
- ₹2,34,267
- Total amount paid
- ₹9,34,267
- Processing fee at 2% + GST
- ₹16,520
If the rate is different
At 11.5% the EMI would be ₹15,395; at 12.5% it would be ₹15,749. Every 0.5% changes the total interest by about ₹10,647 over the full tenure.