Bank loan Rs.1,500,000 for 5 years @ 11 % interest

Total interest you need to pay for this amount is Rs.8,25,000 ( 15,00,000 * 5yrs * 11%)

You need to go 60 monthly payments for 5 years. ( 5years * 12 months)

And need to pay an amount of Principal of 25,000  ( 15,00,000 / 60 ) and an interest of 13,750 ( 8,25,000 / 60 ) together 38,750 for monthly which you need to pay for 5 years.

I hope you understand.

Thank you.

https://www.deal4loans.com/Contents_Calculators.php

your emi shall be 32614

Dear,

Paaras has correctly replied.

Calculation for the same is as under;

  PV = EMP ((( 1+ 11%/12) ^ -5*12) -1)  /  11%/12

1500000 = EMP (((1.009)^-60)-1) / 0.009

1500000 = EMP 45.993

EMP = 32,614

Best Regards,

Desperado.