How loan EMI works
Principal, interest, and monthly installments.
EMI splits a loan into equal monthly payments. Early installments are interest-heavy; later ones pay down principal faster on reducing-balance loans.
Before you accept an offer, run the same principal and rate through our EMI calculator and compare tenures. Ask the bank whether the rate is fixed or floating and whether insurance is bundled.
Rule of thumb: keep total EMIs comfortably below a third of take-home pay unless you have a clear payoff plan.