Same ₹10,000 EMI… but one walks away with ₹55,000 less. Here’s the catch

Most people start with a loan amount and then figure out the EMI. Rohit and Sameer did the opposite. They first decided on their EMI of ₹10,000 a month for five years, and only then walked into the bank to apply for a loan.

On the surface, it looked like the same decision. Same EMI, same tenure, similar salaries, but what they actually got was very different. Their credit scores had already shaped the outcome long before the bank processed their applications.

Rohit’s story: Better credit score, better loan

Rohit had a clean repayment record and low credit card usage.

Credit score: 700+
Interest rate: 12% per year
EMI: ₹10,000
Tenure: 60 months

With these terms:

Loan amount: ₹4,49,550.38
Total repayment: ₹6,00,000.00
Total interest paid: ₹1,50,449.62

This means Rohit gets a bigger loan while paying the same EMI.
 

Sameer’s story: Lower credit score, costlier loan

Sameer had a few repayment delays and higher credit usage.

Credit score: 650
Interest rate: 18% per year
EMI: ₹10,000
Tenure: 60 months

With these terms:

Loan amount: ₹3,93,802.69
Total repayment: ₹6,00,000.00
Total interest paid: ₹2,06,197.31

Same EMI. Same loan period. But Sameer gets less money in hand and pays more interest overall.

Side-by-side reality check

What changed because of the credit score?

Because of the higher interest rate, Sameer gets ₹55,747 less as a loan and ends up paying more in interest, the hidden cost of a weaker credit score.

What this really means

Most people look only at the EMI and ask, " Can I pay ₹10,000 a month? But that is only part of the picture. The more important question is “How much loan will that EMI actually get you?”

A better credit score can help you borrow more at the same EMI. A lower score can reduce your loan amount and increase your total interest, even when your monthly payment stays the same.

The EMI may look identical, but the loan behind it can be very different. A strong credit score does not just help you get approved. It also shapes how much money you receive and how much extra you end up paying over time.

Note: These figures are based on the MintMoney EMI Calculator for a ₹10,000 EMI over 60 months at 12% and 18% interest rates; actual lender calculations may vary slightly due to rounding, fees, and payment timing.

To check your credit score, visit here.