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.

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.

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.

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”);

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.