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EMI calculator.
The monthly instalment on a loan, and the part most people never look at: the total interest you pay on top of what you borrowed.
₹
yrs
%
Every month you pay
₹8,997
Over 240 payments you hand over ₹11,59,342 in interest.
Year 20 · Loan repaid ₹1.0 L · Interest ₹5,084
What you borrowedInterest
- Monthly instalment
- ₹8,997
- Total interest
- ₹11,59,342
- Total you repay
- ₹21,59,342
How it adds up
- You borrow₹10,00,000
- plusInterest at 9% for 20 yrs₹11,59,342
- equalsYou repay in all₹21,59,342
- divided by240 months, so each EMI₹8,997
What this assumes
A fixed rate for the whole tenure. Leaves out processing fees and insurance, which lenders add separately.
Rules and rates from
- The reducing-balance EMI formula banks use
Education only, not investment, tax or legal advice. I am not a SEBI-registered investment adviser.
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