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
How your rate is built
Contract · latest notice5.50%RBI repo rate+3.00%spread
= 8.50%
The spread is fixed in your contract. The benchmark part changes only at a reset, every 3 months; the next is due 1 Jan 2027. The benchmark figure is your rate less the spread: check it against the published rate.
Joint borrowers
Sanction letter| Borrowing | Liable for | |
|---|---|---|
| Rohan Iyer | Primary borrower | The whole loan |
| Meera Iyer | Co-borrower | The whole loan |
Ownership and borrowing are separate: ownership shares are in the sale deed, not the loan papers. Each borrower is liable for the full amount. For tax, you told Myra your share is 50%.
Top-up loan · separate account
Top-up sanction letter 12 Mar 2024- Amount₹5,00,000
- PurposeRenovation
- Rate9.10%
- EMI₹6,361
- Outstanding (estimated)₹4,10,590
- EndsMar 2034
A separate loan with its own EMI and end date. Every other figure in this report is the main loan's only.
Extracted loan terms
Each term keeps its source and check status. Calculations are re-run by code.
29 verified0 to check
| Term | Value | Source | Status |
|---|---|---|---|
| Provider | Kaveri Bank Ltd | Sanction p.1 | Verified |
| Reference number | ••••7731 | Sanction p.1 | Verified |
| Loan amount | ₹50,00,000 | Sanction p.1, cl. 2 | Verified |
| Interest rate | 8.15% | Sanction p.1, cl. 4.1 | Verified |
| Rate type | floating | Sanction p.1, cl. 4.1 | Verified |
| Tenure | 300 months | Sanction p.1, cl. 3 | Verified |
| EMI | ₹39,089 | Sanction p.1, cl. 3 | Recalculated ✓ |
| Sanction date | 10 Oct 2019 | Sanction p.1 | Verified |
| First EMI date | 5 Nov 2019 | Sanction p.1, cl. 3 | Verified |
| Prepayment / foreclosure charge | 0.00% | Agreement p.9, cl. 9.2 | Verified |
| How late payment is charged | penal charge | Agreement p.10, cl. 10.1 | Verified |
| Borrower | individual | Sanction p.1 | Verified |
| Purpose | personal | Sanction p.1 | Verified |
| Deducted before disbursement | Processing fee ₹10,000 · GST on fee ₹1,800 | Sanction p.2, cl. 6 | Verified |
| Penal charge on overdue EMIs | 2.00% | Agreement p.10, cl. 10.1 | Verified |
| Benchmark | RBI repo rate | Sanction p.1, cl. 4.1 | Verified |
| Spread over the benchmark | 3.00% | Sanction p.1, cl. 4.1 | Verified |
| What the loan is for | purchase ready | Sanction p.1, cl. 2 | Verified |
| Type of lender | bank | Sanction p.1 | Verified |
| Longest the loan may run | 360 months | Sanction p.2, cl. 4.3 | Verified |
| Co-borrowers | Rohan Iyer, Meera Iyer | Sanction p.1, Borrowers | Verified |
| Original documents deposited | Sale deed; Previous title deeds (mother deed); Allotment letter; Khata certificate and extract; Encumbrance certificate (13 years); Approved building plan; Occupancy certificate | Sanction p.3, Annex B | Verified |
| Rate and EMI changes | 1 Apr 2020 · 7.40% · 1 Jul 2020 · 7.00% · 1 Jul 2022 · 7.90% · 1 Oct 2022 · 8.90% · 1 Jan 2023 · 9.25% · 1 Apr 2023 · 9.50% | Statement p.2, Rate history | Verified |
| Part-prepayments | 20 Mar 2024 · ₹1,50,000 | Statement p.1 | Verified |
| Late or bounced EMIs | 5 Feb 2026 · ₹39,943 | Statement p.2, Overdue history | Verified |
| How the home is used | self occupied | You entered | Verified |
| Your share of the loan | 50.00% | You entered | Verified |
| Your income-tax regime | old | You entered | Verified |
| Your income-tax slab (old regime) | 30 | You entered | Verified |
How your interest is calculated
EMI recalculatedEach month's interest is the outstanding principal × 8.50% ÷ 12. Your EMI stays ₹39,943; the interest part shrinks and the principal part grows.
EMI 1
₹33,958 interest₹5,131 principal
EMI 300
₹263 interest₹38,787 principal
Penalties and charges
Agreement p.11, Schedule- Bounce / dishonour₹590 incl. GST
- Penal charge2% a month on overdue · no GST
- Foreclosure (floating rate, individuals)0% + GST
- Duplicate NOC / document retrieval₹1,180 incl. GST
Repayment schedule
As sanctioned · your rate changed to 8.50% from 1 Jul 2025; Money Studio → Rate change shows the loan from then onY1Y5Y9Y13Y17Y21Y25
Principal per yearInterest per year
| EMI | Due | EMI | Interest | Principal | Balance | Status |
|---|---|---|---|---|---|---|
| 1 | Nov 2019 | ₹39,089 | ₹33,958 | ₹5,131 | ₹49,94,869 | Paid |
| 2 | Dec 2019 | ₹39,089 | ₹33,923 | ₹5,166 | ₹49,89,704 | Paid |
| 3 | Jan 2020 | ₹39,089 | ₹33,888 | ₹5,201 | ₹49,84,503 | Paid |
| 4 | Feb 2020 | ₹39,089 | ₹33,853 | ₹5,236 | ₹49,79,267 | Paid |
| 5 | Mar 2020 | ₹39,089 | ₹33,818 | ₹5,271 | ₹49,73,996 | Paid |
| 6 | Apr 2020 | ₹39,089 | ₹33,782 | ₹5,307 | ₹49,68,689 | Paid |
| 7 | May 2020 | ₹39,089 | ₹33,746 | ₹5,343 | ₹49,63,345 | Paid |
| 8 | Jun 2020 | ₹39,089 | ₹33,709 | ₹5,380 | ₹49,57,966 | Paid |
| 9 | Jul 2020 | ₹39,089 | ₹33,673 | ₹5,416 | ₹49,52,549 | Paid |
| 10 | Aug 2020 | ₹39,089 | ₹33,636 | ₹5,453 | ₹49,47,097 | Paid |
| 11 | Sep 2020 | ₹39,089 | ₹33,599 | ₹5,490 | ₹49,41,607 | Paid |
| 12 | Oct 2020 | ₹39,089 | ₹33,562 | ₹5,527 | ₹49,36,079 | Paid |
| 13 | Nov 2020 | ₹39,089 | ₹33,524 | ₹5,565 | ₹49,30,515 | Paid |
| 14 | Dec 2020 | ₹39,089 | ₹33,486 | ₹5,603 | ₹49,24,912 | Paid |
| 15 | Jan 2021 | ₹39,089 | ₹33,448 | ₹5,641 | ₹49,19,271 | Paid |
| 16 | Feb 2021 | ₹39,089 | ₹33,410 | ₹5,679 | ₹49,13,592 | Paid |
| 17 | Mar 2021 | ₹39,089 | ₹33,371 | ₹5,718 | ₹49,07,875 | Paid |
| 18 | Apr 2021 | ₹39,089 | ₹33,333 | ₹5,756 | ₹49,02,118 | Paid |
Paid / next status comes from your statement, not from the schedule. Late payments show on the statement only.