Loan details
₹50.00L
8.5
20
Hidden costs
0.5
₹42,000
₹15,000
Your honest effective rate
8.5%
Advertised
→
8.60%
Honest rate
Cost breakdown
Monthly EMI (advertised)₹43,391
Monthly EMI (honest)₹43,708
Total interest (advertised)₹54.14L
Total interest (honest)₹54.96L
Processing fee₹25,000
Insurance + other charges₹57,000
Extra cost vs advertised₹82,000
What this means
Over 20 years, you pay ₹82,000 more than the advertised rate suggests. That is money banks never mention upfront.