The festive season is happening these days in India. Although people do all kinds of shopping in this season, it is also the best time to buy a car. In fact, these days, many companies are offering discounts on their two-wheelers and four-wheelers. Besides, it also offers other benefits. This is the reason why vehicle sales increase significantly during the holiday season. In such a situation, if you are also planning to buy a car and are planning to take a loan of up to Rs 10 lakh to buy it, then we tell you about the EMI on this loan.
Here we say 4 conditions of Rs 10 lakh. This condition is linked to the interest rate and the duration of the loan. This includes calculations with interest rates of 8.5%, 9%, 9.5% and 10%.
| Mathematics from EMI in loan of ₹10 lakh | ||
| interest rate | Mandate | EMI (Monthly) |
| 8.50% | 7 years | ₹15,836 |
| 8.50% | 6 years | ₹17,778 |
| 8.50% | 5 years | ₹20,517 |
| 8.50% | 4 years | ₹24,648 |
| 8.50% | 3 years | ₹31,568 |
If a loan of Rs 10 lakh is taken at an interest rate of 8.5%, then its EMI for 7 years will be Rs 15,836, its EMI for 6 years will be Rs 17,778, its EMI for 5 years will be of Rs 20,517, his EMI for 4 years will be His EMI for 3 years will be Rs 24,648 and it will be Rs 31,568.
| Mathematics from EMI in loan of ₹10 lakh | ||
| interest rate | Mandate | EMI (Monthly) |
| 9% | 7 years | ₹16,089 |
| 9% | 6 years | ₹18,026 |
| 9% | 5 years | ₹20,758 |
| 9% | 4 years | ₹24,885 |
| 9% | 3 years | ₹31,800 |
If a loan of Rs 10 lakh is taken at an interest rate of 9%, then its EMI for 7 years will be Rs 16,089, its EMI for 6 years will be Rs 18,026, its EMI for 5 years will be Rs 20,758, his EMI for 4 years will be Rs 24,885 and his EMI for 3 years will be Rs 31,800.
| Mathematics from EMI in loan of ₹10 lakh | ||
| interest rate | Mandate | EMI (Monthly) |
| 9.50% | 7 years | ₹16,344 |
| 9.50% | 6 years | ₹18,275 |
| 9.50% | 5 years | ₹21,002 |
| 9.50% | 4 years | ₹25,123 |
| 9.50% | 3 years | ₹32,033 |
If a loan of Rs 10 lakh is taken at an interest rate of 9.5%, then its EMI for 7 years will be Rs 16,344, its EMI for 6 years will be Rs 18,275, its EMI for 5 years will be of Rs 21,002, his EMI for 5 years will be Rs 21,002, his EMI for 5 years will be Rs 21,002. for 4 years will be his EMI for 3 years will be Rs 25,123 and it will be Rs 32,033.
| Mathematics from EMI in loan of ₹10 lakh | ||
| interest rate | Mandate | EMI (Monthly) |
| 10% | 7 years | ₹16,601 |
| 10% | 6 years | ₹18,526 |
| 10% | 5 years | ₹21,247 |
| 10% | 4 years | ₹25,363 |
| 10% | 3 years | ₹32,267 |
If a loan of Rs 10 lakh is taken at an interest rate of 10%, then its EMI for 7 years will be Rs 16,601, its EMI for 6 years will be Rs 18,526, its EMI for 5 years will be Rs 21,247, his EMI for 4 years will be His EMI for 3 years will be Rs 25,363 and it will be Rs 32,267.