06/09/2022
๐ช๐ต๐ฎ๐ ๐๐ ๐๐ผ๐ฎ๐ป ๐ฅ๐ฒ๐ฝ๐ฎ๐๐บ๐ฒ๐ป๐? ๐๐ผ๐ ๐๐ผ๐ฒ๐ ๐๐ ๐ช๐ผ๐ฟ๐ธ?
๐๐ฆ๐ต๐ต๐ญ๐ช๐ฏ๐จ ๐ต๐ฉ๐ฆ ๐ฃ๐ฐ๐ณ๐ณ๐ฐ๐ธ๐ฆ๐ฅ ๐ข๐ฎ๐ฐ๐ถ๐ฏ๐ต ๐ข๐ญ๐ฐ๐ฏ๐จ ๐ธ๐ช๐ต๐ฉ ๐ต๐ฉ๐ฆ ๐ข๐ฑ๐ฑ๐ญ๐ช๐ค๐ข๐ฃ๐ญ๐ฆ ๐ช๐ฏ๐ต๐ฆ๐ณ๐ฆ๐ด๐ต ๐ณ๐ข๐ต๐ฆ ๐ต๐ฐ ๐ต๐ฉ๐ฆ ๐ญ๐ฆ๐ฏ๐ฅ๐ฆ๐ณ ๐ช๐ด ๐ฌ๐ฏ๐ฐ๐ธ๐ฏ ๐ข๐ด ๐ญ๐ฐ๐ข๐ฏ ๐ณ๐ฆ๐ฑ๐ข๐บ๐ฎ๐ฆ๐ฏ๐ต.
๐๐ผ๐ฎ๐ป ๐ฟ๐ฒ๐ฝ๐ฎ๐๐บ๐ฒ๐ป๐ ๐๐ผ๐ฟ๐ธ๐ ๐ถ๐ป ๐๐ต๐ฒ ๐ณ๐ผ๐น๐น๐ผ๐๐ถ๐ป๐ด ๐๐ฎ๐๐:
- When the lender gives a loan to the borrower, there is an element of risk involved. In order to deal with this risk, an interest rate is charged on the loan.
- The customer will have to pay back the loan in monthly installments known as EMIs or Equated Monthly installments.
- EMI = Principal Amount + Interest Amount
- The principal amount is not equal to the interest amount in an EMI.
- The EMI may also comprise other smaller elements such as insurance and service charges according to the terms and conditions.
- During the initial loan repayment period, the interest amount will be higher and will reduce as the loan tenure progresses.
- During the initial loan repayment period, the principal amount is lower and increases as the loan progresses.
- EMI payments may be fixed or floating. Fixed EMI amounts are those that remain the same during the repayment period. Floating EMIs vary according to market value and other varying factors.
- When you take a loan, you should repay it back to the lender within the specified time period.
