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What is pre-EMI interest ?

April 26, 2017ask questions on personal finance & tax get answers on personal finance & tax personal finance & tax pre-EMI

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What is pre-EMI interest ?

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Before final disbursement, you may have to pay interest on the portion of the loan disbursed. This is called pre-EMI interest. Pre-EMI interest is payable every month from the date of each disbursement up to the date of EMI commencement.

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to pay interest on the portion of the loan disbursed. This is called pre-EMI interest. Pre-EMI interest is payable every month from the date of each disbursement up to the date of EMI commencementThis is the installment amount the borrower has to make towards repayment of his loan. The EMI comprises of both the principal and interest.