Pricing & Financial Terms
EMI
Equated Monthly Instalment
A regular payment made towards repayment of a loan.
Detailed Explanation
Equated Monthly Instalment, commonly abbreviated as EMI, is the regular periodic payment made by a borrower towards repayment of a loan, including applicable principal and interest components.
In Plain Terms
If you take a home loan, your EMI is the amount you normally pay every month to the bank until the loan is repaid.
EMI amounts depend on the loan amount, interest rate, repayment tenure and loan terms.
This definition is provided for general informational purposes only and is not legal, financial or tax advice. Property rules and authority policies can change — verify current requirements with the relevant authority or a qualified professional.