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Loan EMI

EMI on a Rs 750,000 loan

Monthly installments and total interest for a Rs 750,000 loan at different rates and terms.

Rs 750,000 loan at a glance

EMI at 15%, 36 monthsRs 25,999
Total interestRs 185,964
Total repaidRs 935,964
First month interestRs 9,375

The cheapest installment in the tables below is Rs 15,935 a month (10% over 60 months) and the highest is Rs 70,920 (24% over 12 months), a spread of Rs 54,984 on the same Rs 750,000 loan.

Monthly installment by rate and term

Monthly installment on Rs 750,000, reducing-balance method:

Yearly rate12 months24 months36 months48 months60 months
10%Rs 65,937Rs 34,609Rs 24,200Rs 19,022Rs 15,935
12%Rs 66,637Rs 35,305Rs 24,911Rs 19,750Rs 16,683
14%Rs 67,340Rs 36,010Rs 25,633Rs 20,495Rs 17,451
16%Rs 68,048Rs 36,722Rs 26,368Rs 21,255Rs 18,239
18%Rs 68,760Rs 37,443Rs 27,114Rs 22,031Rs 19,045
20%Rs 69,476Rs 38,172Rs 27,873Rs 22,823Rs 19,870
22%Rs 70,196Rs 38,909Rs 28,643Rs 23,630Rs 20,714
24%Rs 70,920Rs 39,653Rs 29,425Rs 24,451Rs 21,576

Total interest by rate and term

Total interest paid over the whole loan:

Yearly rate12 months24 months36 months48 months60 months
10%Rs 41,243Rs 80,609Rs 121,214Rs 163,053Rs 206,117
12%Rs 49,639Rs 97,323Rs 146,786Rs 198,018Rs 251,000
14%Rs 58,084Rs 114,232Rs 172,796Rs 233,753Rs 297,071
16%Rs 66,578Rs 131,336Rs 199,240Rs 270,250Rs 344,313
18%Rs 75,120Rs 148,634Rs 226,115Rs 307,500Rs 392,704
20%Rs 83,711Rs 166,124Rs 253,417Rs 345,493Rs 442,225
22%Rs 92,349Rs 183,807Rs 281,142Rs 384,219Rs 492,851
24%Rs 101,036Rs 201,680Rs 309,287Rs 423,666Rs 544,558

Flat rate versus reducing balance, and balance over time

At 15% over 36 months a reducing-balance loan costs Rs 25,999 a month. A lender quoting a flat 15% would charge Rs 30,208 a month for the same loan, which is Rs 4,209 more each month, so always ask which method a quote uses.

Point in the loanBalance still owedInterest paid so far
After 12 monthsRs 536,209Rs 98,197
After 24 monthsRs 288,051Rs 162,027
After 36 monthsRs 0Rs 185,964

Worked through for this loan: P = 750,000, r = 15% / 12 = 0.0125, n = 36, so EMI = 750,000 × 0.0125 × 1.012536 / (1.012536 − 1) = Rs 25,999. 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 750,000 loan?

At 15% a year over 36 months the installment on Rs 750,000 is about Rs 25,999 a month (reducing balance). The table shows other rates and terms.

How much interest will I pay on Rs 750,000 over 3 years at 15%?

About Rs 185,964 in total interest on a reducing-balance loan, or Rs 337,500 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 750,000 at 15%, 60 months costs Rs 320,547 in interest against Rs 185,964 over 36 months.