EMI Loan

EMI Loan schemes (Equated Monthly Installment) is a loan scheme operated by the financial institutions on monthly repayment basis such as housing loan, vehicle loan and consumer loan etc. A fixed instalment amount will be calculated to pay off the principle as well as interest of the loan at a specified date each calendar month so that over a specified period, the loan is fully paid off.

Set various EMI schemes according to interest percentage and loan term

Flat and diminishing interest calculation method

Provision to cumulate interest on monthly basis

Provision for penal interest

Grace period for installment payment

Provision for additional charges

Installment plan statement

Provision for initial installment deduction

Provision to customize interest percentage on loan payment

Scrutiny of loan paper and details

Authorization for payment

Receipt installments

Provision multiple installment t receipt

Automatic compounding of interest

Automatic Installment due alert SMS