₹
Ten Lakh
%
years
Flat Rate EMI
₹22,500
Flat Rate: 7.00%
Total Interest (Flat)₹3,50,000
Reducing Rate EMI
₹22,549
Equivalent Reducing Rate: 12.60%
Total Interest (Reducing)₹3,52,940
Comparison
- ›A flat rate of 7.00% is equivalent to 12.60% on a reducing balance basis.
- ›EMI difference: ₹49 per month.
- ›Interest difference: ₹2,940 over the loan tenure.