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Equal monthly installments

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(Querist)
02 December 2008 EMI means "Equal monthly installments" but what does PEMI means?
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Rajdeep Pawar

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Rajdeep Pawar (Expert)
03 December 2008 First of all EMI means "Equated Monthly Installments" & PEMI stands for "Pre Equated Monthly Installments".The difference between EMI & PEMI is discussed as under:
the EMI begins only when the loan is fully disbursed.
If the loan is partially disbursed, then only interest payments are made on the amount disbursed.
These interest payments made before the loan is fully disbursed and before actual EMIs begin, are known as pre-EMI.
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