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What exactly is EMI?
Equated Monthly Installment – EMI for short – may be the quantity payable on a monthly basis towards the bank or other financial institution until the mortgage quantity is fully reduced. It consist of the attention on loan along with area of the amount that is principal be paid back. The sum of the principal quantity and interest is split by the tenure, in other words., wide range of months, when the loan needs to be paid back. This quantity needs to be compensated month-to-month. The attention part of the EMI will be larger through the months that are initial slowly reduce with every payment. Continue reading “EMI Calculator for mortgage loan, car finance & personal bank loan in Asia”