EMI math is simple — but processing fees, GST, and tenure rounding can change your real cost by 8–12%.
The classic EMI formula is P × r × (1+r)^n / ((1+r)^n − 1), where r is the monthly rate and n is months. But that's only your scheduled EMI, not your real cost.
Add processing fee (1–3%), GST on the fee, and any insurance bundled into the loan, and your effective APR can be 1.5–2.5 percentage points higher than the headline rate.
Always use the APR (annualised cost) to compare offers — DhanLift surfaces this on every offer card so you're comparing apples to apples.
