SBI Personal Loan EMI Calculator
An EMI (Equated monthly Installment) is the monthly amount that needs to be paid by a borrower to the State Bank of India against the personal loan availed, on a fixed date every month, over the scheduled loan tenure. The amount is fixed by considering both the principal amount and the interest calculated on it. Even if the EMI amount mostly remains constant, the proportion of the principal and the interest component fluctuates every month. With every EMI repayment done, the principal component of the SBI personal loan keeps on increasing, and the personal loan interest component keeps on reducing.
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