Equated monthly installment

An equated monthly installment (EMI) is defined by Investopedia as "A fixed payment amount made by a borrower to a lender at a specified date each calendar month. ^[1]

6 relations: Amortization, Bond (finance), Interest, Investopedia, Mortgage loan, Personal budget.

Amortization

Amortization (or amortisation) is paying off an amount owed over time by making planned, incremental payments of principal and interest.

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Bond (finance)

In finance, a bond is an instrument of indebtedness of the bond issuer to the holders.

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Interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (i.e., the amount borrowed), at a particular rate.

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Investopedia

Investopedia is a privately owned website based in New York City that focuses on investing education and financial news.

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Mortgage loan

A mortgage loan, or simply mortgage, is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose, while putting a lien on the property being mortgaged.

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Personal budget

A personal budget or home budget is a finance plan that allocates future personal income towards expenses, savings and debt repayment.

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Equated Monthly Installment, Equated Monthly Installment (EMI).

References

[1] https://en.wikipedia.org/wiki/Equated_monthly_installment

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