Equated Monthly Installment definition

Equated Monthly Installment or “EMI” shall mean the monthly payment obligation of the Borrower to repay the Loan with the Interest accrued thereon (rounded off to the next rupee) within such period as may be determined by the Bank from time to time.

Equated Monthly Installment means the amount payable every month by the Borrower to the Bank comprising of interest, or as the case may be, principal and interest.

Equated Monthly Installment or “EMI” shall mean the amount payable every month on such date/s specified in the Schedule for the term of the Personal Loan by the Borrower to the Bank to amortize the Personal Loan comprising interest and principal, or as the case maybe, only principal or interest.

Examples of Equated Monthly Installment in a sentence

• In consideration of the payment of additional premium paid by the Insured and realized by the Insurer not withstanding anything to the contrary, it is hereby understood & agreed that for the purpose of this policy, in the event of the vehicle insured is kept in garage for accidental repairs for more than * days, Insurer will pay Equated Monthly Installment Amount (EMI) to insured as mentioned in the policy schedule.

• We will pay, maximum three (3) Equated Monthly Installment (EMI) in respect of the covered loan as shown in the Policy Schedule/ Certificate of Insurance in the event of Loss of Job of the Primary Insured during the Policy Period.

• The loan is repayable in 60 Equated Monthly Installment of ` 1,24,700/- (Including interest) commencing from July 2013, last installment being due in June 2018.

• The loans are repayable in 60 Equated Monthly Installment of ` 3,47,114/- (Including interest) commencing from April 2014, last installment being due in March, 2019.

• Equated Monthly Installment (EMI in Rs.) Total Number of Installments Lump-sum payment (if any committed)with due date/month & year Rate of Interest (%) Due Date of payment of EMI (Note: EMI and/or Tenure of customer opting under variable/adjustable/floating “Rate of Interest” shall undergo change/revision due to change in ROI.

More Definitions of Equated Monthly Installment

Equated Monthly Installment means the amount payable every month by the Borrower to the Bank comprising of in terest, or as the case may be, principal and interest calculated on the basis of monthly rests at the rate applicable as stated in the schedule and is rounded off to the next rupee. "Post Dated Cheques" (PDCs) shall mean the cheques issued by the Borrower to match the due date of each installment.

Equated Monthly Installment. (EMI) means the amount of monthly payment necessary to amortize the loan with interest within such period as may be determined by the Lender from time to time. The term “Equated Monthly Installment” shall not mean or be construed as equal installments where the rate of interest to be levied is agreed to be variable.

Equated Monthly Installment. (“EMI”) means the amount of monthly payment necessary to be made to the Lender to amortise the Facility with interest over the tenure of the Facility.

Equated Monthly Installment means the amount payable every month by the Borrower to the Bank comprising of interest, or as the case may be, principal and interest calculated on the basis of monthly rests at the rate applicable as stated in the schedule and is rounded off to the next rupee.

Equated Monthly Installment shall not mean or be construed as equal installments where the Interest Rate to be levied is agreed to be variable.

Equated Monthly Installment means the amount of monthly payment necessary to amortise the Loan with interest, over the tenor of the Loan. EMI amount shall incorporate repayment of principal and payment of interest calculated on the basis of the Interest Rate, periodicity of compounding, periodicity of repayment, periodicity of effecting credits in the account so as to aim repayment of the entire liability under the Loan at the end of its tenor.

Equated Monthly Installment or “EMI/EMIs” shall mean the amount, determined by the Lender, payable every month by the Borrowers to the Lender to amortize the Loan with interest over the Term of the Loan.