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Loan Amount
Rs. 3,00,000
Monthly Instalment (EMI)
Rs. 6,448
Total Interest Amount
Rs. 86,890
Total Amount (Principal + Interest)
Rs. 3,86,890
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For an example if you can take a loan amount a 5 lakh for 4 years at Interest Rate of 8.80%, than your emi calculations for the loan are as follows
Year | Principal | Interest | Balance Amount |
1 | Rs. 109,069 | Rs. 39,671 | Rs. 390,931 |
2 | Rs. 119,064 | Rs. 29,676 | Rs. 271,867 |
3 | Rs. 129,974 | Rs. 18,766 | Rs. 141,893 |
4 | Rs. 141,983 | Rs. 6,855 | Rs. 0 |