EMI refers to Equated Monthly Instalment. It simply refers to a fixed amount paid by you (borrower) to the lender at a specific date every month. EMI enables you to pay a portion of your total outstanding loan principal and interest every month so that by end of the loan tenure your loan is fully repaid.
What is an EMI? Print
Modified on: Thu, 6 Jun, 2024 at 1:16 PM
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