Always wondered what is this EMI ( Equated Monthly Installment ). Dont worry EMI is simply the monthly installment you need to pay for the loan amount you take. It is a fixed amount paid over the loan period or loan tenure. It includes principal and interest components. During the initial years or months interest component will be high in the EMI and over the period the Principal component becomes high and interest component decreases. EMI includes entire interest for the month and what ever extra amount is left in the installment is adjusted to the principal, this process goes on till the loan is cleared. Just dont bang your head to calculate emi just log in ezeeloans site and there is a very simple and easy to use EMI Calculator. Just enter the Principal or Loan amount, rate of interest and duration of loan in months and EMI is calculated in a jiffy, you can change various combinations like tenure and rate of interest to find what is the emi.
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