Equated Monthly Installments (EMI) - the quotient
that has always been so complex for the common man.
It pays to
know that the EMI is arrived at with a host of factors such as, the
rate of interest, amount of loan required, tenure, mode of reducing
balance and so on. But what goes in what proportion is almost
impossible to know, unless you 've been a loan officer with a credit
firm. Therefore, for most of us, the customized calculator below is
more than barely ' help'.
Just feed data into the respective
sections and click ' Calculate'. This will also help to catch the
erring loan officer, the next time he arrives at your door.