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All You Need To Know About Your EMI

An EMI is a fixed amount that should be paid back to the lender on or before the monthly deadline to avoid penalties. A part of it pays off the principal amount and the rest pays the interest. Proper management of budget is required to pay the EMIs on time.

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All You Need To Know About Your EMI

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  1. EMI - Everything You Need To Know

  2. What is EMI? • It is a fixed amount that you pay throughout the loan term. • It includes both the principal and the interest amounts.

  3. Understand how EMI works • The larger the loan amount, the higher the EMI. • You can only pay one EMI per month. • You can either calculate it manually or through an online calculator.

  4. Reasons to choose the EMI option

  5. Buying expensive products • By paying small amounts every month, you can easily purchase expensive items.

  6. Expense Management • As you know your monthly obligations beforehand, you can easily manage your budget. • EMI does not put a strain on your wallet.

  7. Flexibility • You can choose the EMI and the loan term on your own.

  8. How to effectively manage your EMI? • Know your EMI beforehand. • Manage your cash flow by minimizing expenses. • Maintain healthy credit history by avoiding EMI skips. • Explore the options available with different lenders. • Pay additional EMI or use the lump sum for prepayment.

  9. Now that you understand EMI better, follow the above tips to effectively manage it.

  10. Thank You !Would Love to Hear From You Hero FinCorp Limited 09, BasantLok, Vasant Vihar, New Delhi - 110057 Tel. 18001024145 Email Id: Corporate.Care@HeroFinCorp.com Website: https://www.herofincorp.com/ Know more: All You Need To Know About Your EMI

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