An EMI can refer to different things depending on the context. Here are the three most common meanings:

1. Equated Monthly Installment: An equated monthly installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off loans, such as real estate mortgages, over the course of several years with the goal of retiring the loan. The benefit of an EMI for borrowers is that they know precisely how much money they will need to pay toward their loan each month, making the personal budgeting process easier.

2. Electronic Money Institution: An electronic money institution (EMI) is a type of financial institution that facilitates digital (e-money) transactions on behalf of its clients. EMIs primarily operate online, but some may also have brick-and-mortar branches. EMIs provide services related to simple e-money transactions, such as sending, receiving, and storing currency, foreign exchange, prepaid cards, and debit card services. EMIs may also provide multi-currency IBAN accounts, payment cards, e-wallets, and other features. EMIs are regulated by local regulators and authorities.

3. Electromagnetic Interference: Electromagnetic interference (EMI) is unwanted noise or interference in an electrical path or circuit caused by an outside source. EMI occurs because of the close relationship between electricity and magnetism. All electrical flow produces a small magnetic field, and a moving magnetic field produces an electrical current. High powered electrical and radio sources can produce unwanted effects in devices far away. EMI is regulated by most countries through product testing to specifications and standards. Devices must be able to operate correctly even when exposed to certain levels of EMI.