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 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 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.
Examples of Equated Monthly Installment in a sentence
Loan Terms i.e., Loan Amount, Rate of Interest, EMI (Equated Monthly Installment) and Loan Tenure would be as detailed in Loan Documents.
More Definitions of Equated Monthly Installment
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.
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 or “EMI” means the amount of each monthly payment as specified in Schedule I required to be paid to the Lender to amortize 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 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 means the equated monthly installment of the amounts payable by the Card Member to IDBI Bank in respect of the Facility, comprising of principal amount of the Facility and interest thereon. Under the Facility, IDBI Bank shall at its sole discretion, permit the Card Member to transfer all or part of his outstanding balances on credit cards issued by other banks / entities, to his Card Account. Such transfer shall be effected by way of a demand draft sent to the mailing address of the Card Member, last registered with IDBI Bank, favouring the other bank / entity issuing the credit card for crediting the card account of the Card Member with such other bank / entity for the approved Facility amount. IDBI Bank shall not be liable for any overdue payments or service charges that may be incurred by the Card Member in respect of his other credit card post the Facility being granted / agreed to be granted by IDBI Bank. The Card Member shall remain liable to continue to make payments to the other credit card issuing bank / entity until the transferred amount of the Facility is received by the other credit card issuing bank / entity. Additionally, the Card Member shall also receive the confirmation in a future statement providing that his card account with the other credit card issuing bank / entity has been credited. The Facility shall be available to the Primary Card Member as well as the Add-on Card Member, subject to the available Cash- Limit and/or Credit- Limit and will be provided to the Card Member requesting the Facility. The Cash-Limit and/or the Credit-Limit on the Card will be blocked by the amount of the Facility granted to the Card Member. The Card Member shall be required to pay a non refundable processing fee on the Facility up to the percentage specified by IDBI Bank to the Card Member as specified in the Schedule of Charges provided in the Annexure along with Most Important Terms and Conditions (MITC). Service tax shall be applicable on the processing Fee and interest amount as per IDBI Bank's prevailing rates. Such amount shall be reflected in the Statement for the particular month. On applying for the Facility to IDBI Bank by the Card Member, IDBI Bank shall conduct a dummy authorization for Rs. Ten (10) on the credit card of the other bank for which the Facility is availed of. If the authorization is successful, the Balance Transfer transaction will be processed subject to other terms and conditions at the sole discretion of IDBI Bank.
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.