Money word, in plain English ← Back to all terms
EMI
A fixed monthly repayment on a loan.
Example. A ₹60,000 phone on a 12 month EMI is about ₹5,000 a month, plus interest.
EMI stands for Equated Monthly Instalment. It is the fixed amount you pay every month to slowly clear a loan, covering both the borrowed money and the interest. Easy EMIs feel small, but always check the total you will pay over the full term.
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