The EMF (electromotive force) of a cell is the maximum potential difference between its terminals when no current is flowing, while the terminal voltage is the potential difference when the cell is under load, i.e., when current is flowing. The terminal voltage is always less than the EMF due to the internal resistance of the cell. As current flows, there is a voltage drop across this internal resistance, which reduces the terminal voltage. The greater the current, the larger the voltage drop, leading to a terminal voltage that is lower than the EMF.