EMI (Equated
Monthly Installment)
is the amount payable
to the lending institution
every month, till
the loan is paid
back in full. It
consists of a portion
of the interest
as well as the principal.
Some of
the Incentives offered
to Lending Institutions:
|
|
Some
companies sanction
the loan without
requiring you
to identify
a property as
a prerequisite
for eligibility. |
|
| |
|
Free accident
insurance. |
|
|
Discounts. |
|
|
Waiving of
pre payment
penalty. |
|
|
Waiving of
processing fee. |
|
|
Free property
insurance. |
|
|
Construct
a house on a
plot of land.
|
|
How
is EMI calculated?
EMI Formula: l x
r [(1+r) n / (1+r)
n-1] x 1/12
l = loan amount
r = rate of interest
n = term of the
loan |
Home
Loan 
