Rising interest rates: How much EMI do you have to pay?

The rising rate of interest has been a cause of concern for borrowers. Since April, 2010, the Reserve Bank of India has hiked key policy rates by 250 basis points. Banks and housing finance companies too have transmitted such rate hikes to their customers.



So, how much do you have to fork out on your monthly equated installments (EMIs)?
Rating agency Crisil has attempted to lay down some figures based on certain assumptions. This is what a research note says:
“We have attempted to evaluate the impact of rising rate on a home loan of Rs 1.5 million raised at 8.5 per cent for a term of 180 months. With the current mortgage rates hovering around the 11 per cent mark, the borrower's EMI is estimated to have increased by 15 per cent.”
Given below is a table indicating the sensitivity of EMI payments to various interest rate and tenure assumptions:
Table: Sensitivity of monthly payments to interest rate and tenures
                                           Tenure (in months)

Int. rate	60	120	180	240	300
8.50%	30,775	18,598	14,771	13,017	12,078
9.00%	31,138	19,001	15,214	13,496	12,588
9.50%	31,503	19,410	15,663	13,982	13,105
10.00%	31,871	19,823	16,119	14,475	13,631
10.50%	32,241	20,240	16,581	14,976	14,163
11.00%	32,614	20,663	17,049	15,483	14,702
11.50%	32,989	21,089	17,523	15,996	15,247
12.00%	33,367	21,521	18,003	16,516	15,798
12.50%	33,747	21,956	18,488	17,042	16,355
13.00%	34,130	22,397	18,979	17,574	16,918

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