The 5-minute guide before you sign anything.
Equated Monthly Instalment = principal + interest, split into equal monthly payments.
Look at the reducing-balance interest rate, tenure and processing fee — not just the EMI amount.
Keep total monthly EMIs under 40% of your take-home income. Above that, stress starts.
A longer tenure lowers EMI but raises total interest paid. Do the math first.
Run the numbers on a free EMI calculator in under a minute.