Does the EMI amount remain fixed throughout the loan tenure?

Yes, the EMI amount is fixed unless the borrower decides to make a part-prepayment. It implies paying off a certain amount of the loan before the scheduled payment period. When this happens, the overall outstanding principal amount reduces, which, in turn, affects the subsequent EMI calculations. The EMI would remain the same, but the loan tenure would decrease since the principal has been reduced, leading to quicker loan repayment. Personal loan interest calculators on the website of the lending platforms help borrowers to be precise with their calculations.