7 Essential Tips For Successfully Repaying Your EMI Loan

Taking a loan often becomes a necessity to fulfill significant financial goals, be it purchasing a home, funding education, or dealing with unexpected expenses. One common method of repaying online loans through apps like RING &  Kreditbee is through Equated Monthly Installments (EMIs). Successfully managing your EMI repayments is crucial to maintaining financial stability and ensuring a positive credit history. Here are seven essential tips to help you navigate the process of repaying your EMI loan effectively.

Budget Wisely:

Before taking on any loan from online platforms including Navi, it’s crucial to assess your financial condition and create a realistic budget. Understand your income, expenses, and any existing financial commitments. This will give you a clear picture of how much you can comfortably allocate towards your EMI payments without compromising your basic living expenses.

Choose an Affordable EMI:

When selecting your EMI amount for the loan taken from Fibe or other apps, opt for a figure that aligns with your financial capacity. While it might be tempting to choose a shorter loan tenure with higher EMIs, this could strain your monthly budget. A longer tenure with lower EMIs might be more sustainable. Use online EMI calculators to find the right balance between loan amount, tenure, and monthly installment.

Prioritize High-Interest Debts:

If you have multiple debts at a time, consider prioritizing the repayment of high-interest debts. These could include credit card debts or loans with higher interest rates. By allocating additional funds towards these debts, you can save money in the long run and expedite your journey towards becoming debt-free.

Build an Emergency Fund:

Life is unpredictable, and unforeseen expenses can arise. Having an emergency fund is equally important so that you can continue your EMI repayments even during challenging times. To that end, aim to set aside three to six months’ worth of living expenses in a liquid, easily accessible account.

Automate Your Payments:

Missing EMI payments of loans from Money View and other apps can adversely affect your credit score and may result in penalty charges. To avoid this, set up automated payments through your bank. This ensures that your EMIs are deducted from your account on the last date, eliminating the risk of forgetfulness or oversight.

Consider Loan Insurance:

Loan insurance, such as credit life insurance, provides coverage in the event of unpredictable circumstances like disability, critical illness, or death. While it adds a small premium to your EMI, it offers financial protection to you and your family. This can be especially beneficial in ensuring the continuity of EMI payments during challenging times.

Regularly Review Your Finances:

Periodically reassess your financial situation to ensure that your EMI payments remain manageable. Life circumstances and financial priorities may change over time. Regular reviews allow you to make adjustments to your budget, explore opportunities for prepayment, or consider refinancing options if needed.


Successfully repaying your EMI loan from apps like RING & Pocketly is not just about meeting financial obligations; it’s about maintaining financial well-being and securing your future. By budgeting wisely, choosing affordable EMIs, prioritizing high-interest debts, building an emergency fund, automating payments, considering loan insurance, and regularly reviewing your finances, you can navigate the loan repayment journey with confidence. 

Effective EMI management not only helps you fulfill your financial obligations but also contributes to a positive credit history, opening doors to future financial opportunities.