What is a Loan EMI Calculator and How to Use? - 0 views

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  #1 banknomics on 01 Mar 16

   

  Equated Monthly Installment - EMI for short - could be the amount payable every month towards the bank or any other lender until the loan amount is fully paid off. It consists of the interest on the loan as well principal amount that is to be repaid. The sum of principal amount and interest is divided by the tenure that is number of months, in which the loan has to be repaid. This amount has to be paid monthly. The interest element of the EMI would be larger in the initial months and steadily reduce with each EMI. The exact percentage allocated towards payment of the principal depends on the interest rate. Even though you're monthly EMI payment won't vary, the proportion of principal and interest components will change with time. With every single successive payment, you'll pay more towards principal and less in interest.
  http://www.banknomics.com/blog/what-is-a-loan-emi-calculator-and-how-to-use/

   

  <div class="cArrow"> </div><div class="cContentInner">Equated Monthly Installment - EMI for short - could be the amount payable every month towards the bank or any other lender until the loan amount is fully paid off. It consists of the interest on the loan as well principal amount that is to be repaid. The sum of principal amount and interest is divided by the tenure that is number of months, in which the loan has to be repaid. This amount has to be paid monthly. The interest element of the EMI would be larger in the initial months and steadily reduce with each EMI. The exact percentage allocated towards payment of the principal depends on the interest rate. Even though you're monthly EMI payment won't vary, the proportion of principal and interest components will change with time. With every single successive payment, you'll pay more towards principal and less in interest. <br /> <a href="http://www.banknomics.com/blog/what-is-a-loan-emi-calculator-and-how-to-use/" rel="nofollow" target="_blank">http://www.banknomics.com/blog/what-is-a-loan-emi-calculator-and-how-to-use/</a></div>

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