MoneyLens / Home loans
Your loan, explained.
Home loan · Floating rate · Godavari Home Finance Ltd · ••••3317
Illustrative
Your loan as sanctioned
ContractSanction + KFS
Loan amount
₹48,00,000
Sanction letter
Interest rate
8.75%
RBI repo rate + 3.25% · or 9.40% fixed
Loan period
20.0 years
240 EMIs of ₹42,418
Interest structure
Floating
3-year fixed option offered
Figures come from the sanction letter and KFS. Nothing is signed or disbursed yet.
Myra's most important observations
Prefilled from your documents · edit freely
Rate reset · EMI versus tenure
Prefilled from Sanction letter
₹48,00,000
8.75%
+0.50 pts
20.0 years
Option A · keep tenure
Recalculated monthly EMI
₹43,962Change: +₹1,544 a month
Option B · keep EMI at ₹42,418
Revised estimated duration
22.3 years+2.3 years · interest +₹11.9 L
Rules check
✓
EMI still covers the interest
First month's interest at 9.25% is ₹37,000, below your EMI of ₹42,418.
✓
Within your tenure limit
The new end date stays within your 30-year limit (360 EMIs left under it).
✓
Your choices at a reset
Raise the EMI, extend the tenure, combine both, prepay, or switch to a fixed rate where the lender offers one (its charges must be disclosed).
Total interest over the remaining loan
Assumptions & limits. A fixed hypothetical rate after the reset; monthly reducing balance. It doesn't predict interest rates or include lender fees or exact reset dates. Your sanction letter's tenure limit is applied.