10 Lakh Personal Loan
10 Lakh Personal Loan EMI
Here's how much EMI you'd pay for a 10 lakh personal loan.
Bank |
Loan Amount |
Tenure / Months |
EMI |
RBL - Ratnakar Bank |
₹ 10,00,000 |
12 |
₹ 89,787 |
IFL - India Infoline |
₹ 10,00,000 |
12 |
₹ 89,782 |
IBL - IndusInd Bank |
₹ 10,00,000 |
12 |
₹ 88,844 |
**Loan EMI or Interest Rate changes with individuals and is * Subject to Risk Profile
** We Offer Personal Loans up to 5 Years - the chart shows only for 1 Year. Please contact us if you need Loan for a longer tenure.
Example: A loan offer of ₹2 Lakh, for a tenure of 3 years at an interest rate of 16.6% (on a reducing principal) and a processing fee of 2.5%. Translates to:
Processing Fee deduction of ₹5000 (2.5% of 2 Lacs) from loan amount, thus, the amount credited to your account will be ₹1.95 Lacs
EMI of ₹7091 per month
Total payable amount in 3 years = 36 times ₹7091 = ₹2,55,276
Total Interest paid in 3 years = ₹55,276, hence, annual interest paid = ₹18,425 (which translates to an effective flat annual rate of interest of 9.21%)