MoneyLens / Home loans
Your loan, explained.
Home loan · Floating rate · Kaveri Bank Ltd · ••••7731
Illustrative
Your loan today
AccountStatement 5 OctContractAgreement + 2 rate notices
Outstanding principal
₹42,16,462
Statement · 5 Oct 2026
Current interest rate
8.50%
RBI repo rate 5.50% + 3.00% spread
Remaining loan period
16.3 years
196 EMIs · ends Feb 2043
Interest structure
Floating
RBI repo rate-linked · resets every 3 months
Balance, rate and remaining tenure come from your statement dated 5 Oct 2026 and the Jul 2025 rate notice, not the original sanction letter.
Myra's most important observations
Loan cost timeline · 2019 to 2043
Paid, rebuilt from your documents · projected at 8.50%1234567
'19'22'25'26'28'31'34'37'40'43
Interest rate by year6% – 10%
Principal paidPrepaymentInterest paidPrincipal projectedInterest projected
12019 · Disbursed ₹50 L at 8.15%
22020 · Rate down to 7.40% · Rate down to 7.00%
32022 · Rate up to 7.90% · Rate up to 8.90%
42023 · Tenure limit reached: EMI raised to ₹39,126 · Tenure limit reached: EMI raised to ₹39,943
52024 · ₹1.5 L prepaid
62025 · Rate down to 9.00% · Rate down to 8.50%
72026 · Today · statement 5 Oct 2026
Rate-reset reconstruction
Every documented rate and repayment change, by effective date. Grey tick: original end · red tick: 30-year limit.
| Effective | Rate | EMI | Projected last EMI | What happened | Source | |
|---|---|---|---|---|---|---|
| Nov 2019 | 8.15% | ₹39,089 | Oct 2044 | Sanctioned | Sanction letter | |
| Apr 2020 | 8.15% → 7.40% | ₹39,089 | Jan 2041 | Tenure shortened | Statement rate history | |
| Jul 2020 | 7.40% → 7.00% | ₹39,089 | Sep 2039 | Tenure shortened | Statement rate history | |
| Jul 2022 | 7.00% → 7.90% | ₹39,089 | Apr 2042 | Tenure extended | Statement rate history | |
| Oct 2022 | 7.90% → 8.90% | ₹39,089 | Jan 2047 | Tenure extended | Statement rate history | |
| Jan 2023 | 8.90% → 9.25% | ₹39,126 | Oct 2049 | EMI raised at the tenure limit | Statement rate history | |
| Apr 2023 | 9.25% → 9.50% | ₹39,943 | Oct 2049 | EMI raised at the tenure limit | Statement rate history | |
| Mar 2024 | ₹1.5 L prepaid | ₹39,943 | Oct 2046 | Prepaid | Statement | |
| Apr 2025 | 9.50% → 9.00% | ₹39,943 | Aug 2044 | Tenure shortened | Rate notice 1 Apr 2025 | |
| Jul 2025 | 9.00% → 8.50% | ₹39,943 | Jan 2043 | Tenure shortened | Rate notice 1 Jul 2025 |
Statement reconciliation
Unresolved · ₹2,181- Original loan · Nov 2019₹50,00,000
- 84 EMIs paid₹33,20,309
- of which interest₹26,84,590
- Part-prepayments₹1,50,000
- Myra's rebuild₹42,14,281
- Statement · 5 Oct 2026₹42,16,462
The ₹2,181 difference could come from daily interest calculation, the exact dates a change took effect, a charge or a payment not in the documents. It isn't proven either way. Myra uses the statement figure for every projection; the lender's amortisation schedule would settle it.
Interest still to pay
- Outstanding₹42,16,462
- EMIs left196
- EMI₹39,943
- Interest if 8.50% holds₹36.1 L
- EMIs left under the 30-year limit276
Missed EMI · Feb 2026
Charged correctly✓EMI due 5 Feb 2026₹39,943
✓Paid 11 Feb 20266 days late
✓Bounce charge (disclosed ₹590)₹590
✓Penal charge (Myra: ₹160 at 2% a month)₹160
✓Charged as a separate charge, not added to the rateYes ✓
·Added to principal?Can't confirm (balance gap)
Where ₹50,00,000 goes before it reaches you
Sanction p.2, cl. 6₹50.00 L
Sanctioned
−₹10,000
Processing fee
−₹1,800
GST on fee
₹49.88 L
You receive
Axis starts at ₹49.78 L so the deductions are visible.
Interest rate vs real borrowing cost
Myra rebuilt the cash flows: you receive ₹49,88,200 and pay 300 × ₹39,089.
Loan Cost Intelligence
What Myra found and reconciled across your documents.
| Analysis | What Myra found | Status | Source |
|---|---|---|---|
| Cost clarity | The real yearly cost is about 8.18%, above the 8.15% headline rate | Finding | Calculated |
| Tax benefit | About ₹74,773 less tax in tax year 2026-27 (old regime) | Finding | Sanction p.1, cl. 2 · Sanction p.1, cl. 4.1 · Sanction p.1, cl. 3 |
| Net disbursement | You received ₹49,88,200, not ₹50,00,000 | Verified | Sanction p.2, cl. 6 · Sanction p.1, cl. 2 |
| Total cost | You repay ₹1.17 Cr for ₹50.00 L borrowed | Verified | Sanction p.1, cl. 2 · Sanction p.1, cl. 4.1 · Sanction p.1, cl. 3 |
| Repayment progress | 84 EMIs paid, ₹42,16,462 still outstanding | Verified | Statement p.1 |
| Charges levied | ₹750 in charges match your schedule of charges | Verified | Statement p.2, Charges debited · Agreement p.11, Schedule |
| Exit flexibility | No charge for prepaying or closing early | Verified | Agreement p.9, cl. 9.2 |
| Rate came down | Your rate came down from 9.00% to 8.50% on 1 Jul 2025 | Verified | Rate letter p.1 |
| EMI check | EMI of ₹39,089 matches the rate and tenure | Verified | Sanction p.1, cl. 3 · Sanction p.1, cl. 2 · Sanction p.1, cl. 4.1 |
Document conflict
None foundYour documents agree with each other on every term Myra checked.
What a missed EMI triggers
Day 1
EMI bounces
₹590 bounce charge; 2% a month penal charge starts on the overdue EMI (no GST, no interest on it)
1–30 days
SMA-0
Reminders; lenders report overdue status to credit bureaus (now every 15 days)
31–60 days
SMA-1
Penal charges keep accruing on each unpaid EMI
61–90 days
SMA-2
Recovery follow-up escalates under the lender's fair practices code
90+ days
NPA
Account can be classified non-performing; the lender may recall the full outstanding
Outstanding balance over the loan
Scheduled path, at 8.50% from the rate change · today from your statement dated 5 Oct 2026₹50.00 L · Nov 2019Today · ₹42.16 L₹0 · Feb 2043
Rules Myra checked
Versioned rules applied by loan type, borrower, lender type, sanction date and effective date. Myra never calls a charge prohibited without this check.
| Area | Rule and version | Applies to you? | What Myra found | Status |
|---|---|---|---|---|
| Floating-rate resets | RBI reset framework · v2 (from 1 Oct 2025) | Yes · floating-rate EMI loan · individual borrower · Commercial bank | 8 changes rebuilt; EMI and tenure changes match the documents and stay within the tenure limit. | Verified |
| Prepayment charges | RBI prepayment rules · v1 (sanction 10 Oct 2019) | Yes · floating rate · banks, floating-rate home loans since 2012 | No foreclosure or part-prepayment charge, as required. | Verified |
| Key Facts Statement | RBI KFS directions (from 1 Oct 2024) | No · sanctioned 10 Oct 2019 | Not required for a loan sanctioned before 1 Oct 2024; the sanction letter and agreement are the terms. | Doesn't apply |
| Penal charges | RBI penal-charges rules · v1 (from 1 Jan 2024) | Yes · all regulated lenders | A separate penal charge of 2% a month, not added to the rate. | Verified |
| Original property documents | RBI release of documents · v1 (from 1 Dec 2023) | Yes · secured loan, at closure | Back within 30 days of closing, with the charge removed; ₹5,000 a day after that. | Applies at closure |
| Tax on home-loan interest and principal | Income-tax Act, 2025 · Section 22 and Section 123 | Old regime; self-occupied or let-out home | About ₹74,773 less tax in tax year 2026-27 (old regime) | Calculated |