What is EMI (Equated Monthly Installment)
Failed to add items
Sorry, we are unable to add the item because your shopping cart is already at capacity.
Add to basket failed.
Please try again later
Add to wishlist failed.
Please try again later
Remove from wishlist failed.
Please try again later
Adding to library failed
Please try again
Follow podcast failed
Unfollow podcast failed
What is EMI (Equated Monthly Installment)
-
Narrated by:
-
By:
About this listen
Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at regular intervals, typically on a monthly basis. It comprises both principal and interest components, ensuring gradual repayment of a loan over a specified period. EMI calculations depend on factors like loan amount, interest rate, and loan tenure. Widely used in mortgage loans, car loans, and personal loans, EMIs provide borrowers with a structured repayment plan, making budgeting easier while facilitating timely debt repayment.
No reviews yet