Equated Monthly Installments definition

Equated Monthly Installments or “EMI” shall mean the amount payable every month by the Customer to BFL comprising of principal amount, interest, and other charges as the case may be;
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Equated Monthly Installments or “EMI” means and includes the amount of each periodical payment required to be paid to the Bank, on monthly intervals in terms of the Agreement, to amortise the Loan with Interest over the tenure of the Loan.
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Equated Monthly Installments. (“EMI”) means the amount payable every month by the Borrower(s) to FICCL comprising of Interest or as the case may be principal and interest and as set out in the Loan Summary Schedule.
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Examples of Equated Monthly Installments in a sentence

  • The Bank will explain to the customer upfront the method of calculation of interest and how the Equated Monthly Installments (EMI) or payments through any other mode of repayment will be appropriated against interest and principal due from the customers.

  • The Loan availed would be repaid in an Equated Monthly Installments (EMI) over the agreed tenor.

  • Interest in the normal course will form a part of the Equated Monthly Installments (EMIs) or Pre-EMIs payable by the Borrower(s).

  • Repayment: The loan is repaid by way of Equated Monthly Installments (EMI), which comprises of both principal and interest component.

  • The Borrower should have the earning/ financial capacity to pay Equated Monthly Installments (EMI) along with such other charges as applicable without failure.

  • Repayment : The loan is repaid by the way of Equated Monthly Installments (EMI), which comprise of both Principal and Interest component.

  • The payments made by cardholders shall be appropriated in the order of EMI (Equated Monthly Installments), taxes, fee and other charges, service charges, cash withdrawal and retail usage.

  • A Card member may opt to convert a purchase at select Merchant outlets into Equated Monthly Installments (EMIs.) The Purchase/s would be converted into Equated Monthly Installments (EMI) by charging interest on the total transaction value on a monthly reducing balance basis.

  • Cardmember can buy a wide range of products and services from electronics to travel at select Point of Sale and Online Merchants and convert them instantly into Equated Monthly Installments (EMI).

  • The loan is repaid by way of Equated Monthly Installments (EMI), which comprises of both principal repayment and interest component calculated on the outstanding principal.


More Definitions of Equated Monthly Installments

Equated Monthly Installments means the amount of monthly payment necessary to amortise the Financial Facilities with interest, over the period of the Financial Facilities.
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Equated Monthly Installments or “EMI” shall mean the amount payable every month by the Borrower to CFL comprising of upfront fees, other charges and other applicable taxes including but not limited to Goods and Service Tax (“GST”);
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Equated Monthly Installments also referred to as “EMI”, means the equated monthly instalment / amount of payment as set out under the head “Repayment” in the Commercial Schedule (as revised from time to time) of the Facility Agreement to be made monthly by the Borrower(s) to BIZLOAN in respect of the Facility comprising of principal and interest (computed as per the applicable Interest Option) rounded off to the next rupee.
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Related to Equated Monthly Installments

  • Note Monthly Interest Distributable Amount means, with respect to any Payment Date, interest accrued for the related Interest Accrual Period at the related Interest Rate for each Class of Notes on the Outstanding Amount of the Notes of each such Class on the immediately preceding Payment Date (or, in the case of the first Payment Date, the original principal amount of each such Class of Notes), after giving effect to all distributions of principal to the Noteholders of each such Class on or prior to such Payment Date.

  • Collateral Senior Minimum Monthly Interest shall have the meaning specified in subsection 4.02(d).

  • Note Monthly Interest means, for a Class and a Payment Date, the aggregate amount of interest accrued on the Note Balance of the Class at the Note Interest Rate for the Class for the related Interest Period.

  • Collateral Minimum Monthly Interest shall have the meaning specified in subsection 4.02(c).

  • Monthly Interest Distributable Amount With respect to any Distribution Date and each Class of Certificates, other than the Class P, Class R and Class C Certificates, an amount equal to the amount of interest accrued during the related Interest Accrual Period at the related Pass-Through Rate on the Class Principal Amount of such Class of Certificates immediately prior to such Distribution Date, in each case, reduced by any Net Prepayment Interest Shortfalls allocated to such Class of Certificates and any Relief Act Interest Shortfalls allocated to such Class of Certificates, in each such case, as such shortfalls are allocated pursuant to Section 1.02 herein.