How many years emi
By: Priyanka sharma on 11 january 2015
Hey Priyanka Sharma !!
The EMI varies depending upon loan amount taken, rate of interest. If you are taking loan of 3.1Lakh at interest rate of 10.5% then EMI would be 6663/- for 60 months. The EMI varies depending upon tenure selected. If taken for 30Months then EMI would be 11,794/-
Please use our EMI calculation feature for checking out various probability of EMI with variation in downpayment and interest rates.
As stated by Sonal in previous reply, EMI depends upon many factors like loan amount, interest rate and tenure of loan. If you apply for a loan of 3 lac for 36 months at an interest rate of 10.5% then you EMI will be Rs. 9764. Interest rates depends upon your financer. Also, more the period of interest, lesser will be the EMI but overall interest will increase for example, if above loan is taken for 60 months, then EMI will be Rs. 6457 but in this case, net interest is Rs. 87420 whereas interest for 36 months was Rs. 51504.