Utilities

EMI Chart on ₹ 1,000 Financed

Years
Flat Rates		 1 2 3 4 5
9.00% 90.83 49.17 35.28 28.33 24.17
9.50%  91.25  49.58  35.69  28.75  24.58
10.00% 91.67 50.00 36.11 29.17 25.00
10.50% 92.08   50.42 36.53 29.58 25.42
11.00%  92.50 50.83  36.94 30.00  25.83
11.50% 92.92 51.25  37.36 30.42 26.25
12.00% 93.33 51.67 37.78 30.83 26.67
12.50% 93.75 52.08 38.19 31.25  27.08
13.00% 94.17 52.50 38.61 31.67  27.50
13.50% 94.58 52.92 39.03  32.08 27.92
14.00%  95.00 53.33  39.44  32.50 28.33

  1. The above flat rates will hold good for Lease as well as Hire Purchase.

  2. Following Structures are common in Lease/HP

  1. Security Deposit : A percentage of the financed amount is taken upfront and refunded at the end of the tenure along with interest. EMI is calculated on the amount financed.

  2. Down Payment : A percentage of the asset value is taken as margin and the EMI is calculated on the net financed amount.

  3. EMIs in advance : A few instalments are taken in advance adjusted against the last few EMIs.

  1. A management/processing fee or service charge generally 1% to 3% is may be upfront.

  2. The lessee/hirer has to bear other costs like GST, insurance, registration, stamp duty, etc. at actuals.