An In-Depth Understanding of EMI in Arrears vs EMI in Advance
EMI (Equated Monthly Instalment) is a common mode of repayment for loans, including home loans, personal loans, and car loans. EMI is an amount that the borrower needs to pay to the lender every month until the loan is fully paid off. Two types of EMI payment systems exist: EMI in arrears and EMI in …
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