March 31, 2025
People often opt for loans when it comes to financing a car, bike, laptop, or even a smartphone. Repaying a loan in a lump sum can be challenging, so lenders offer the option of Equated Monthly Installment (EMI). In simpler terms, EMI is a fixed amount a borrower makes to a lender each calendar month over a pre-set loan term.
Table of Contents:
Key Features of Equated Monthly Installment (EMI)
Hulas Finserv: Best Financial Partner in Nepal
Loan Offerings and Financing Details
EMI = P [(r (1 + r)^n)) / ((1 + r)^n – 1)]
Where:
P = Principal loan amount.
r = Periodic monthly interest rate &
n = Total number of monthly installments.
There is nothing vast while discussing how Equated Monthly Installment (EMI) works. It is just a simple process. Different loans have different principal amounts, interest rates, and tenure periods. When one decides to take a loan, the financial service provider explains every detail of the loan type. They make you aware of the amount you need to pay every month. Alternatively, you can calculate the EMI amount with an EMI calculator featured on the financial service provider’s website.
Once you get an idea about your EMI calculation, minimal paperwork is required to get the loan approved. After meeting the eligibility criteria and gathering the necessary documents, you can apply for the loan either online or by visiting the financial institution. When the loan is approved, you can take the purchase home and must repay the fixed amount each month. If you have payment delays, a certain penalty is imposed.
Hulas Finserv offers a range of loan services with Equated Monthly Installments (EMIs).
| Loan Type | Loan Amount | Tenure | Interest rate |
| Two Wheelers | Up to 70% of the total product cost | 6 – 36 Months | 0% – 14% |
| Three Wheelers | Up to 70% of total product cost | 24 Months | 0% – 14% |
| Four Wheelers | Up to 60% of total product cost | 60 months | 13% |
| Consumer Electronics | Up to 70% of total product cost | 6 – 12 Months | 0% |
| Furniture | Up to 50% of the total product cost | 6 – 12 Months | 0% |
| Laptops | 60% of the total product cost | 3-12 months | 0% |
The loan amount, tenure period, and interest rate differ with the loan category. The loan amount
60% of the total product cost, a tenure period of 3-12 months, and an interest rate of 0% means that a 40% down payment must be paid while acquiring the loan. The rest, 60%, must be repaid within 3-12 months; however, 0% interest means no additional amount must be paid besides the principal loan amount.
The EMI calculator featured on the Hulas Finserv website provides the exact details of the loan amount needed to repay during the tenure period. They are easy to use and provide quick results compared to manual calculations. You can also experiment by comparing different loan scenarios and choosing the one that suits you best. This calculator provides a clear and transparent view of your loan type, helping you to make informed financial decisions.
Hulas Finserv provides instant loan approval. You only need to meet our eligibility criteria and gather the necessary documents. To speed up the process, applications can be submitted online. It ensures minimal requirements, reduced paperwork, and faster decision-making. Finance with Hulas Finserv for a hassle-free, quick, and straightforward approval process.
EMIs make loan repayment easy and manageable by allowing borrowers to pay in fixed monthly installments. Hulas Finserv provides flexible loan options and an easy approval process in Nepal. Our EMI plans make purchasing vehicles, gadgets, or furniture more affordable. Use our EMI calculator to find the best repayment plan for your needs. Choose Hulas Finserv for a smooth and stress-free financing experience.
What is EMI in simple words?
EMI (Equated Monthly Installment) is a fixed monthly payment made by a borrower to repay a loan. It includes both the principal and interest components.
How do I find the EMI amount?
Visit the Hulas Finserv website and use the EMI calculator. Simply enter the loan amount; you will see the maximum applicable interest rate on the screen, and enter the tenure period to get the exact EMI details.
What happens if I miss an EMI payment?
Missing an EMI payment may result in penalties. It is advisable to pay your EMIs on time to avoid extra charges.
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