What does EMI mean?
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An EMI, or Equated Monthly Instalment, is a fixed payment made by a borrower to a lender each month. It includes both the interest and the principal portion of the loan. Over the loan tenure, you repay the full amount through EMIs. They are an easy and convenient way of repaying loans as they provide a clear structure to the process. With a home loan EMI calculator, borrowers can easily calculate this monthly payment based on the loan terms.