Equated monthly instalment (EMI) is used to repay the outstanding amount along with the accrued interest when you borrow money. Systematic Investment Plan (SIP) is a tool to grow your fund over a period of time by investing in Mutual Fund schemes.
Getting a Personal Loan is no sweat. But, be sure to calculate your EMI before getting one. Here’s how to do it.
Loans have become an integral part of everyone’s life these days. Most of our long cherished dreams of buying a car, home or funding any of our financial emergencies can be tackled now with the help of various loans. The most important aspect of loans is EMIs and their calculations. Do you know how your EMIs are calculated? We will help you understand.
Aman, a management graduate working with a popular FMCG company, wanted to finally live his dream of owning a car. Being an automobile enthusiast from his childhood, the first thing Aman wanted to buy from his earnings was a hatchback which he could call his own and afford. As Aman has just started earning, he… Read More »
While it is not very difficult now to take a personal loan, it is not so simple to pay back the loan. This is because personal loans are unsecured loans, and come with high interest rates. As a result, the Equated Monthly Instalment factor (or the EMI) can be a drain on your salary, depending… Read More »