How To Calculate EMI On Your Loans

Kaynazkelly0923 Jul, 2020Business

Loans are a very important part of our life as they get us close to some important life goals which could include buying a new property, education, marriage, etc. EMI�s are equated monthly installments that are made towards the loan we opt for. It�s a contribution made for both interest and principal amount. Usually, the interest amount constitutes the major portion of the EMI but as the loan tenure progresses, the amount of interest repayment reduces, and contribution towards principal repayment increases. The EMI of the loan depends on 3 factors which include: