EMI is a fixed monthly payment — combining principal and interest — that a borrower pays a lender until a loan is fully repaid.
Also called: equated monthly instalment · loan EMI
Each EMI is the same, but its split changes over time: early payments are mostly interest, later payments are mostly principal. An amortisation schedule shows the split month by month.
The EMI depends on three inputs — principal, annual rate, and tenure. Extending the tenure lowers the monthly EMI but raises total interest paid, sometimes dramatically.
EMIs are how home loans, car loans, personal loans, and most consumer credit are structured worldwide.
A QR code is a two-dimensional barcode that stores a URL, text, contact card, or Wi-Fi credentials and is read by pointing a phone camera at it.
HTTPS is HTTP wrapped in TLS encryption — it protects requests and responses in transit and proves to the browser that the site is who it claims to be.
Compound interest is interest calculated on the original principal plus all previously earned interest — the mechanism that makes long-term investments grow exponentially.