Before you sign a loan agreement, there are three numbers you need to know: Monthly EMI — so you know if you can actually afford it Total interest paid — so you know the real cost of the loan Maximum loan on your budget — so you go in with the right number Banks quote your monthly payment. They rarely lead with the total interest over 20 years. That number is often more than the loan principal itself. What is EMI? EMI stands for Equated Monthly Installment. It's a fixed amount you pay every month until the loan is fully repaid. Each payment covers two things: Interest on the remaining principal Principal repayment — reducing the loan balance Early in the loan, most of your payment goes toward interest. In later years, it shifts toward principal. This is why paying off a loan early saves significant money.…