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monthly installment calculation formula

Loan Faqs

What is a Monthly Reducing Balance? :

In the case of monthly reducing balance method, the principal gets reduced at the end of every month and the interest is calculated on the outstanding principal at the end of the month.

What is an EMI? :

EMI stands for Equated Monthly Installments. This installment comprises both principal and interest components. Please use the EMI Calculator to find out the EMI you need to repay.
Loan Blogs

Why loan against property is a good option

If you need money for any specific need like marriage, business expansion, foreign education then a good way to raise money is to get a loan against your property. The only condition for that is that you need to own a valuable asset in the form of a self-occupied house or a commercial property....

How to go for car loan

Car has become a necessity in today's life. Most of people who wish to own a car normally buy a car on a car loan. A car loan is offered by banks and other financial institutions. Due to the growth in the car market lots of car companies are offering economical cars to the Indian consumers and...
Insurance Faqs

How can I pay for my travel policy in installments? :

If you purchase your policy online using a credit card, the monthly installments get automatically charged on your credit card and is reflected in your monthly statement.

What is a premium? :

Premium is the amount of money you pay monthly, quarterly or annually for continuing the insurance policy. The amount of the premium is decided at the time of the purchase of the policy.
Insurance Blogs

Basics of life insurance

Life insurance provides a family with financial support in the case of death of the breadwinner of the family. According to a life insurance policy, a fixed amount of money is paid to the insured or the beneficiary at the end of its term or upon the death of the insured. Life insurance also...

Deciding about the amount of life insurance

People go for various life insurance policies due to their many benefits. The amount of life insurance depends on many factors. Ideally the sum assured should provide for all the needs of your family like children's education and marriage while meeting the daily basic expenses when the insured...

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