What’s the difference between tranche EMI and pre-EMI? Is tranche EMI better than pre EMI?
Tranche EMI can be paid by the customer right after the first disbursement of the loan. The EMI can be paid for the entire loan amount or for the amount that has been disbursed. This helps you save a sizeable amount, which normally would be paid as interest under pre-EMI. Pre-EMI is when you have taken only a portion of the loan and you are required to pay only the interest on the disbursed amount until you get the full loan amount.
Looking for a Home Loan? Click here.