Equated Monthly Instalment or “EMI” means the amount of monthly payments, comprising of principal and interest calculated in the manner as mentioned in this Agreement, and necessary to amortise the Loan with interest over the tenor/period of the Loan.
Equated Monthly Instalment or (“EMI”) means the amount of monthly payment necessary to amortise the Loan with interest over the period of the Loan.
Equated Monthly Instalment 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.
Examples of Equated Monthly Instalment in a sentence
Sl.No.Name of the Add-on cover In consideration of payment of additional premium, the insured will be paid regular Equated Monthly Instalment (EMI) payable to the financier of the vehicle recorded in our books due to an accident involving the insured vehicle.
However, in respect of Equated Monthly Instalment (‘EMI’) based advances, those accounts where more than 3 EMIs are overdue are classified as NPAs.5.4 In case of NPAs other than retail EMI loans, recoveries effected are first adjusted towards the principal amount.
The Bank will explain to the customer upfront the method of calculation of interest and how the Equated Monthly Instalment (EMI) or any other mode of repayment will be appropriated against interest and principal due from the customers.
In the event of admissible claim under the policy for Partial Loss where insured house will undergo repair WE will pay Equated Monthly Instalment (EMI) to YOU for a maximum of 6 months on the current EMI due to the financier subject to a maximum of Rs 2.5 lacs.Indemnity period will be counted from the date of repair as certified by the appointed surveyor.
The loan is repayable in 60 Equated Monthly Instalment of` 1.25 lacs (Including interest) commencing from July 2013, last instalment being due in June 2018.
More Definitions of Equated Monthly Instalment
Equated Monthly Instalment means the amount payable every month by Borrower on the due dates to Bank comprising of interest or as the case may be, principal and interest, whether previously demanded or not.
Equated Monthly Instalment means the amount payable every month by the Borrower to the Bank comprising of interest, or as the case may be, principal and interest. “Environmental, Social and Governance Laws” shall mean any law, rules and regulations (including international treaty obligations) applicable concerning (i) environmental matters and natural resource management, (ii) employees and labour and their condition of workplace (particularly compliance with regulations relating to child and forced labour, discrimination and rights of association), (iii) protection of occupational as well as public health and safety, (iv) the regulations of public participation, (vi) the protection and regulations of ownership of land rights (both formal and traditional), immovable goods and intellectual and cultural property rights, (v) all other laws, rules and regulations providing protection of employees and citizens, including respecting human rights life and fire safety and building integrity laws, rules and regulations. “Environmental, Social and Governance Action Plan” shall mean a plan (if any) setting out specific environmental, social and governance measures to be undertaken by Borrower, acceptable to both Parties and developed by Xxxxxxxx and / or Bank.
Equated Monthly Instalment 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 Instalment or "EMI/EMIs" means the amount, determined by the Lender, payable every month (as per Schedule I: EMI payable) by the Borrower to the Lender to amortize the Facility with interest over the period of the Facility computed in accordance with the terms of this Agreement.
Equated Monthly Instalment means the amount payable every month by the Borrower to the Bank as stated in the Schedule or as may be amended from time to time by the Bank, comprising of interest, or as the case may be, principal and interest. "Interest Rate" means the rate at which the Bank shall compute and apply interest on the Personal Loan, as stated in the Schedule or as may be amended from time to time by the Bank. “Loan Account” means the account maintained by the Borrower with the Bank which records the balance amount owed by the Borrower with reference to the Personal Loan. "Parties" means the Bank and the Borrower referred to collectively. "Personal Loan" or “Loan” or “Facility” means the loans granted by the Bank in terms of this Agreement, up to the limit specified under the Schedule. The expression shall also mean to include the principal amount of Loan and all dues outstanding there under if the context so requires. "Savings Account/s" means the Savings Bank Account(s) of the Borrower, maintained with the Bank. "Schedule" means the schedules of this Agreement. “Website” shall mean any of the Bank’s website available under URL: xxx.xxxxxxxxxx.xx, and shall include mobile phone based application(s) that may be provided by the Bank from time to time. In this Agreement, singular shall include plural and the masculine gender the feminine or neutral gender. Any expression not defined herein shall, if defined under General Clauses Act, 1897 shall carry the same meaning as assigned to it under the said Act. The arrangement of clauses in this Agreement shall have no bearing on their interpretation.
Equated Monthly Instalment means the amount of monthly payment necessary to amortise the Facility with Interest, over the tenure of the Facility, comprising both the principal amount and the Interest thereon;
Equated Monthly Instalment or EMI or Installment” shall mean the amount of each monthly payment as specified in Schedule I required to be paid to the Lender to amortize the Loan with interest over the tenure of the Loan or within such period as may be determined by the Lender from time to time.