Loan EMI Calculator
Find your monthly instalment (EMI), total interest and a year-by-year repayment schedule for any loan.
EMI formula
EMI = P ร r ร (1 + r)n / ((1 + r)n โ 1), where P is the loan amount, r is the monthly interest rate (yearly rate รท 12 รท 100) and n is the number of monthly instalments.
Example
A loan of Rs. 25,00,000 at 11.5% for 10 years has an EMI of about Rs. 35,150. Over 10 years you pay about Rs. 17.2 lakh in interest.
Tips to lower your EMI
- Make a bigger down payment to borrow less.
- Choose a longer tenure. EMI falls, but total interest rises.
- Compare base rates and premiums across banks before signing.
- Prepay when you can. Even small prepayments cut total interest.
Results are estimates. Your bank's actual EMI may differ slightly because of fees, rounding and rate changes.
Frequently asked questions
What is EMI?
EMI (Equated Monthly Instalment) is the fixed amount you pay your bank every month until the loan is repaid. Each EMI covers part of the principal and part of the interest.
Does a longer tenure reduce EMI?
Yes, the monthly EMI goes down, but you pay more total interest over the life of the loan.
Can I use this for a home loan in Nepal?
Yes. Enter the amount, your bank's interest rate and the tenure. It works for home, car, education and personal loans.