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## What is step-down loan?

Here, the rates are huge initially as the borrower can easily afford high EMI repayments. Gradually, as **the years roll by, the EMI installments come down**. This is the step-down loan, where the burden of EMIs comes down with time.

## What is step up payment?

step-up payment. **A lease payment structure that increases payments at one or more points during the lease term**. Synonym(s): low-high lease structure.

## What is stepped up EMI?

A Step-up EMI is **a loan where one can pay lower Equated Monthly Instalments (EMIs) in the initial years, and increase the EMI amount throughout the tenure**, as compared to the standard loan.

## What is a step-down line of credit?

Step-Down Loan means **an obligation or security which by the terms of the applicable Related Contracts provides for a decrease in the per annum interest rate on such obligation or security** (other than by reason of any change in the applicable index or benchmark rate used to determine such interest rate) or in the spread …

## What is a step-down prepayment penalty?

A Step-Down prepayment penalty (aka: declining or fixed prepayment) is **a predetermined, sliding scale based on the principal balance of the loan at the time of prepayment and the amount of time which has passed since the loan was closed** or the rate was last reset.

## What is the formula for EMI in Excel?

Calculating EMI has a Simple Formula, Which is As Follows: **EMI = (P X R/12) X [(1+R/12) ^N] / [(1+R/12) ^N-1]**. Here, P is the original loan amount or principal, R is the rate of interest that is applicable per annum and N is the number of monthly installments/ loan tenure.

## What is step up program?

Step Up, is an award-winning (NASPA Gold) **bystander intervention program** that teaches students how to intervene in problematic situations including alcohol abuse, hazing, depression, sexual assault, discrimination, anger, eating disorders, academic misconduct, and more.

## How much is step up?

Step Up awarded scholarships, worth up to averaging **between $6,673 to $7,169** depending on grade and county of residence, to 73,338 economically disadvantaged students during the 2021-22 school year.

## How do you qualify for step up?

**Eligibility Requirements**

- Students entering kindergarten must be 5 on or before Sept. …
- Students entering first grade must be 6 on or before Sept.

## How is EMI Step Down calculated?

**If you discount the EMI payments by the rate of interest (9% per annum) to the present, you will arrive at the same number.**

- 50,000/(1+9%/12)^1 = Rs 49,628 for the first month.
- 50,000/(1+9%/12)^2 = Rs 49,258 for the second month.
- 50,000/(1+9%/12)^3 = Rs 48,892 for the third month.
- And so on…

## How is EMI step calculated?

Well, when you buy a car with a Step-up Car Loan Scheme, you can start repaying with a lower EMI and gradually increase this EMI amount as the years go by.

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Step-up EMI calculation | ||
---|---|---|

EMI (in months) | % Increase in EMI | EMI (INR) |

1-12 | 1239 | |

13-24 | 11% | 1375 |

25-36 | 11% | 1527 |

## What is gradual step up scheme?

Scheme 1 – Gradual Step Up Scheme

As per the scheme, the **EMI payments gradually increase over a period of 2 years** depending on the payment convenience of the buyer. This scheme will help customers fast track their buying process, in turn making personal mobility available to all at pocket friendly rates.