Finance Calculators
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Flat vs Reducing Rate Calculator
Interest is a part of the loan amount that is paid to the lender in addition to the principal amount. Loan interest rates are calculated in a similar manner by various banks.
ā¹1241000
10%
12 Months
Flat interest rate
Monthly EMI: ā¹18,960
Total interest: ā¹14,89,200
Total amount: ā¹27,30,200
Reducing balance interest rate
Monthly EMI: ā¹14,831
Total interest: ā¹8,94,653
Total amount: ā¹21,35,653
