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Loan EMI calculator
What a farm loan costs a month, and what it costs you in total by the end.
You type in the rate. This site does not publish one, because rates move and differ by branch and by borrower. Get the rate from the branch in writing and use that.Your loan
What you pay
₹4,152 a month, for 60 months.
- What you borrowed₹2,00,000
- Interest over the whole loan₹49,100
- Total you hand back₹2,49,100
This is reducing balance interest, which is what farm loans use. A flat rate quoted at the same number costs you considerably more, so always ask which one a quote is.
The instalment is only part of the cost. Processing fees, insurance and inspection charges are not in this figure, and they should be in your own sums. Ask for all of them in writing before you sign.
A crop loan repaid inside the season works differently from this and is usually far cheaper. The loan checker covers which kind fits you.
Two questions worth asking the branch
- Is the rate reducing balance or flat? A flat rate quoted at the same number costs you considerably more over the term.
- What else is payable besides the instalment? Processing fee, insurance and inspection charges are real money and they are rarely volunteered.
A crop loan repaid inside the season works differently from a term loan and is usually far cheaper. The loan checker covers which one fits.