The Tractor EMI calculator is the monthly payment given to the financial institution or bank until the debt is fully repaid. It contains both the loan interest and a portion of the principal amount to be repaid. The sum of principal and interest is divided by the loan's term, or the number of months it must be repaid in.
This sum must be paid monthly. The EMI's interest component would be greater at first and then drop with each payment. The interest rate determines the exact percentage of principal payment.
