EMI, or Equated Monthly Instalment, is the fixed amount paid by a borrower every month to clear off the financial taken from a bank. It is scheduled at a specific date of every calendar month and includes both principal and interest components. Your personal financial EMI depends on the financial principal, the rate of interest and the financial tenure.

It is essential to calculate your EMI before applying for a personal financial. While you can do so manually, using a Personal financial calculator can help you determine the more accurate value. You can select the required financial amount, tenure and rate of interest to get the exact payable EMI amount with an interactive chart.

EMI may affect your monthly expenses until you repay it. Some simple steps that can help you reduce the personal financial EMI and manage outlays easily are:

• Option for a longer repayment tenor - It will help you spread the financial cost over a longer duration and help you pay in small installment
• Negotiate with the financial provider for a lower rate of interest
• Maintain a strong CIBIL score to enjoy lower interest rates and reduced EMI
• Become a Varni Corporate Member for the best deals as per your needs and repaying capacity

Following factors affect personal financial EMI

• Financial amount - Monthly instalments payable are directly proportional to the financial amount opted for. The higher the financial amount the higher will be your EMI.
• Applicable cornet Interest -Interest rate is a percentage at which lenders charge interest on the Financial amount. A higher interest rate increases the EMIs and vice versa.
• Tenor - it is the repayment period for the personal financial availed and is inversely related to EMIs. A longer tenor reduces monthly instalments while a shorter tenor increases them.

EMI, or Equated Monthly Instalment, is the fixed amount paid by a borrower every month to clear off the financial taken from a bank. It is scheduled at a specific date of every calendar month and includes both principal and interest components. Your business financial EMI depends on the financial principal, the rate of interest and the financial tenure.

It is essential to calculate your EMI before applying for a Business financial. While you can do so manually, using a Business financial calculator can help you determine the more accurate value. You can select the required financial amount, tenure and rate of interest to get the exact payable EMI amount with an interactive chart.

EMI may affect your monthly expenses until you repay it. Some simple steps that can help you reduce the Business financial EMI and manage outlays easily are:

• Option for a longer repayment tenor - It will help you spread the financial cost over a longer duration and help you pay in small installment
• Negotiate with the financial provider for a lower rate of interest
• Maintain a strong CIBIL score to enjoy lower interest rates and reduced EMI
• Become a Varni Corporate Member for the best deals as per your needs and repaying capacity

Following factors affect Business financial EMI:

• Financial amount - Monthly instalments payable are directly proportional to the financial amount opted for. The higher the financial amount the higher will be your EMI.
• Applicable cornet Interest - Interest rate is a percentage at which lenders charge interest on the Financial amount. A higher interest rate increases the EMIs and vice versa.
• Tenor - it is the repayment period for the Business financial availed and is inversely related to EMIs. A longer tenor reduces monthly instalments while a shorter tenor increases them.