Loan

EMI

Also known as: Equated Monthly Installment, Monthly Installment

Equated Monthly Installment - Fixed monthly payment for loans comprising principal and interest.

Detailed Explanation

EMI (Equated Monthly Installment) is a fixed payment amount made by borrowers to lenders at a specified date each month. EMI consists of both principal and interest components. Initially, interest component is higher, and gradually principal component increases as the loan tenure progresses.

Related Calculators

Loan EMI Calculator

loans

Calculate loan EMI, total interest, and view amortization schedule for all types of loans

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Home Buying Journey - All-in-One Calculator

planning

Plan your home purchase with affordability, eligibility, EMI, stamp duty, tax benefits, rent vs buy analysis in one place

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Related Terms

Personal Loan

Unsecured loan based on income and credit score, requiring no collateral.

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