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What is EMI-banking?

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Anonymous

13y ago
Updated: 6/19/2023

an Equated Monthly Installment (EMI) is defined as "A fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month, so that over a specified number of years, the loan is paid off in full."

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Brandy Mayert

Lvl 10
2y ago

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