Calculators

Calculate your EMIs, check your CIBIL score and more

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Frequently Asked Questions

01

An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a bank or lender at a specified date each month. EMIs are used to pay off both interest and principal each month so that over a specified number of years (the tenure of the loan), the loan is paid off in full.

02

"Prepayment of the Loan Amount: Prepayment of the loan amount can be done for most of the loans and usually all banks allow you to prepay the loan ahead of schedule by making lump sum payment for a fee. If you make any payments which are greater than your monthly EMI, the principal amount will be decreased, which will in turn reduce the EMI payment you need to make each month to pay off the loan amount payable. Change in Loan Tenure: If you change your loan tenure at any point your EMIs will change as well. The longer the loan tenure, the lesser the value of the individual EMI payable as compared to shorter tenures. Loans with Flexible Repayment Options: Some loan providers offer flexible loan repayment options that feature varying EMIs. You pay lower EMIs initially and the EMI payable increases as you progress along the loan tenure. You also have the option to pay higher EMIs at the start which get reduced at a later stage. Your Rubique relationship manager will help you with selecting the right payment plan for you "

03

Choose a loan tenure based on EMI you are comfortable paying. The longer the loan tenure, the lesser the value of the individual EMI payable as compared to shorter tenures. In case of shorter tenures, the loan is repaid faster and total interest paid out to repay the loan amount is lower than longer tenure loans.

04

Your EMIs can change if you opt to change the loan tenure, if you’ve opted for a flexible repayment option or if the interest rate is changed (in case of floating rate loan). Your Rubique relationship manager will help you with selecting the right EMI option for you.

05

You will be charged a late payment fee when you make the EMI payment at a delayed date. Make sure you make the payment as soon as possible to avoid impacting your CIBIL score.

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