EMI (Equated Monthly Instalment) (समान मासिक किस्त (ईएमआई))
EMI is the fixed amount you pay each month, combining interest and principal, until a loan is fully repaid. Early EMIs are interest-heavy and later ones principal-heavy, and any EMI figure only makes sense next to the total repayment amount.
Worked example
₹50,000 for 12 months at 24% a year (reducing): EMI ≈ ₹4,728, total repayment ≈ ₹56,736, so total interest ≈ ₹6,736. Always weigh the ₹4,728 against the ₹6,736 total cost, not just against your monthly budget.