Keep room for expenses
Choose an EMI that leaves comfortable cash flow for household, emergency and insurance needs.
Calculate EMI before you commit.
Estimate monthly instalment, total interest and total payment for any loan amount, interest rate and tenure.
Responsible borrowing
How to interpret your EMI.
Compare total cost
A lower EMI through a longer tenure may increase total interest. Compare both monthly comfort and total outflow.
Ask about prepayment
Prepayment rules can materially affect long-term savings, especially for floating-rate secured loans.