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Loans

EMI

An important concept in finance is the Equated Monthly Installment (EMI), which refers to the amount of money paid by a borrower each month towards the repayment of a loan. This installment is calculated based on the loan amount and the loan period, and is a crucial factor to consider when taking out a loan. Understanding the concept of EMI is essential for making informed financial decisions and managing one's loans effectively.

Fixed installment

One fundamental aspect of loans is the concept of fixed installments. This refers to the regular and predetermined payments made towards a loan over the duration of its term...

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Refinance

A mortgage is a financial term for a loan secured by property, typically used for purchasing a home. In some cases, a homeowner may choose to take out a second mortgage, als...

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Advance EMI

Equated installments are a common aspect of disbursing finances, and it's important to understand how they work. Essentially, these are a predetermined number of payments th...

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Ballon Payment

The term "balloon payment" refers to the final and often larger payment on a debt, typically occurring after a series of smaller payments have been made. This type of paymen...

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