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What is the meaning of EMI? How EMI's are calculated?
asked Sep 11, 2017 in Home Loan by Sundar (62 points) | 53 views

1 Answer

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HI Sundar,
EMI is easy monthly installments.
One EMI consists of two components -
1. Principal Component
2. Interest Component

In the initial days of EMI for Home loans, more amount of Interest are deducted, and less Principal
In the later time, more amount of principal is deducted and less Interest.
answered Sep 12, 2017 by Mahadev (164 points)
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