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Loan EMI

EMI on a Rs 200,000 loan

Monthly installments and total interest for a Rs 200,000 loan at different rates and terms.

Rs 200,000 loan at a glance

EMI at 15%, 36 monthsRs 6,933
Total interestRs 49,590
Total repaidRs 249,590
First month interestRs 2,500

The cheapest installment in the tables below is Rs 4,249 a month (10% over 60 months) and the highest is Rs 18,912 (24% over 12 months), a spread of Rs 14,663 on the same Rs 200,000 loan.

Monthly installment by rate and term

Monthly installment on Rs 200,000, reducing-balance method:

Yearly rate12 months24 months36 months48 months60 months
10%Rs 17,583Rs 9,229Rs 6,453Rs 5,073Rs 4,249
12%Rs 17,770Rs 9,415Rs 6,643Rs 5,267Rs 4,449
14%Rs 17,957Rs 9,603Rs 6,836Rs 5,465Rs 4,654
16%Rs 18,146Rs 9,793Rs 7,031Rs 5,668Rs 4,864
18%Rs 18,336Rs 9,985Rs 7,230Rs 5,875Rs 5,079
20%Rs 18,527Rs 10,179Rs 7,433Rs 6,086Rs 5,299
22%Rs 18,719Rs 10,376Rs 7,638Rs 6,301Rs 5,524
24%Rs 18,912Rs 10,574Rs 7,847Rs 6,520Rs 5,754

Total interest by rate and term

Total interest paid over the whole loan:

Yearly rate12 months24 months36 months48 months60 months
10%Rs 10,998Rs 21,496Rs 32,324Rs 43,481Rs 54,965
12%Rs 13,237Rs 25,953Rs 39,143Rs 52,805Rs 66,933
14%Rs 15,489Rs 30,462Rs 46,079Rs 62,334Rs 79,219
16%Rs 17,754Rs 35,023Rs 53,131Rs 72,067Rs 91,817
18%Rs 20,032Rs 39,636Rs 60,297Rs 82,000Rs 104,721
20%Rs 22,323Rs 44,300Rs 67,578Rs 92,131Rs 117,927
22%Rs 24,627Rs 49,015Rs 74,971Rs 102,458Rs 131,427
24%Rs 26,943Rs 53,781Rs 82,477Rs 112,978Rs 145,216

Flat rate versus reducing balance, and balance over time

At 15% over 36 months a reducing-balance loan costs Rs 6,933 a month. A lender quoting a flat 15% would charge Rs 8,056 a month for the same loan, which is Rs 1,122 more each month, so always ask which method a quote uses.

Point in the loanBalance still owedInterest paid so far
After 12 monthsRs 142,989Rs 26,186
After 24 monthsRs 76,814Rs 43,207
After 36 monthsRs 0Rs 49,590

Worked through for this loan: P = 200,000, r = 15% / 12 = 0.0125, n = 36, so EMI = 200,000 × 0.0125 × 1.012536 / (1.012536 − 1) = Rs 6,933. Your lender’s schedule may differ slightly, and fees and insurance are extra.

Related and frequently asked questions

Try your own rate in the Loan EMI Calculator. Related: the EMI formula and Excel PMT and flat rate vs reducing balance. Other amounts: loan EMI by amount.

What is the monthly installment on a Rs 200,000 loan?

At 15% a year over 36 months the installment on Rs 200,000 is about Rs 6,933 a month (reducing balance). The table shows other rates and terms.

How much interest will I pay on Rs 200,000 over 3 years at 15%?

About Rs 49,590 in total interest on a reducing-balance loan, or Rs 90,000 if the lender charges a flat 15% rate.

Does a longer term lower the cost?

A longer term lowers the monthly installment but raises the total interest. On Rs 200,000 at 15%, 60 months costs Rs 85,479 in interest against Rs 49,590 over 36 months.