What is pre-EMI interest?

What is pre-EMI interest?

At times, borrowers avail a part of the total approved amount of loan. In these cases, the lenders charge interest only on the part that has been borrowed from the total approved amount till the full disbursal of loan. This refers to the pre-EMI interest and borrowers are usually required to pay the same on a monthly basis till full and final disbursal of the approved loan is made.