If you're unfamiliar with the bank jargon, you are bound to come home a wee bit confused after a day of loan shopping. Here's help:

What is an EMI?
You repay the loan in the form of Equated Monthly Instalments (EMIs) which is made up of 2 parts -- principal and interest. Loan repayment EMI begins from the month in which you take full disbursement.

What is pre-EMI interest?
Pending final disbursement, you pay interest on the portion of the loan disbursed. This interest called pre-EMI interest. Pre-EMI interest is payable every month from the date of each disbursement upto the date of commencement of EMI. Some financial institutions, on your request, could consider to start the EMI before the loan is fully disbursed.