What exactly is EMI?

Equated Monthly Installment – EMI for quick – may be the quantity payable each month to your bank or just about any institution that is financial the loan quantity is fully paid down. It is made from the attention on loan in addition to an element of the principal total be paid back. The sum of the principal amount and interest is split because of the tenure, in other words., quantity of months, where the loan needs to be repaid. Continue reading →