Your EMI usually stays the same once your loan amount, interest rate, and tenure are fixed at the time of approval.
However, if your loan has a floating interest rate, your EMI may increase or decrease if there are changes in the benchmark rate or the lender’s rate of interest.
If there’s any change to your interest rate, EMI amount, or repayment schedule, your lender will inform you in advance through your registered contact details, and the update will also reflect in your loan statement and Key Fact Statement (KFS).
