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Equated Monthly Installments (EMI) - the quotient that
has always been so complex for the common man. It pays to know that
the EMI is arrived at with a host of factors such as, the rate of
interest, amount of loan required, tenure, mode of reducing balance
and so on. But what goes in what proportion is almost impossible to
know, unless you have been a loan officer with a credit firm.
Therefore, for most of us, the customized calculator below is more
than barely ' help'.
Just feed data into the respective sections and click ' Calculate'.
This will also help to catch the erring loan officer, the next time
he arrives at your door.
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