A maximum loan amount describes the total amount that a borrower is authorized to borrow. Maximum loan amounts are used in standard loans, credit cards and line of credit accounts.
Equated Monthly Installment (EMI) for short – is the amount payable every month to the bank or any other financial institution until the loan amount is fully paid off.
Period from the date of disbursement of loan to the date of the last EMI payment or the date of closure of loan.