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What is the EMI in house loans?

April 26, 2017EMI House Loans

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What is the EMI in house loans?

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Once you take house loans, you will repay your amount in monthly installments depending upon the loan amount, total duration and interest rate. This means you have to pay certain amount per lakh rupees during the entire period. This is called Equated Monthly Installments (EMI). The longer is the repayment period smaller will be the EMI. Generally, EMI doesn’t exceed the 50% of household income.