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EMI Calculator for Home, Car & Personal Loans

Work out your monthly loan EMI, total interest and full repayment schedule for home, car and personal loans, and download the EMI table.

Loan details

Rs
1 Lakh10 Lakh1 Crore15 Crore
% p.a.
1%7%13%19%25%
1102030 yrs
Used for the month-by-month repayment schedule below.

Monthly EMI

Rs 0/ month
Principal
Interest
Principal amountRs 0
Total interestRs 0
Total payableRs 0

Repayment schedule

Click a year to see each month.
Year / monthPrincipalInterestTotal paidBalanceLoan repaid

What is an EMI?

An EMI (Equated Monthly Instalment) is the fixed amount you pay your bank or financial institution every month until a loan is repaid. Each EMI covers two things: interest on the balance still outstanding, and a part of the principal. In the early years most of the EMI goes towards interest; as the balance falls, a larger share goes towards the principal - you can see this happen in the repayment schedule above.

How to use this calculator

  1. Loan amount - the amount you plan to borrow (type it in or drag the slider).
  2. Interest rate - the annual rate the bank quotes you. For a floating-rate loan, use the current rate (base rate + premium).
  3. Loan tenure - how long you will repay, in years or months.
  4. First EMI date - only used to label the months and years in the schedule.

The monthly EMI, total interest and total payable update instantly. Click any year in the schedule to see each month, or download the full schedule as a CSV file to open in Excel.

How the EMI is calculated

The calculator uses the standard reducing-balance formula used by banks:

EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)
  • P - loan amount (principal)
  • r - monthly interest rate = annual rate ÷ 12 ÷ 100
  • n - number of monthly instalments

Example: a loan of Rs 10,00,000 at 10% a year for 10 years has r = 0.10 ÷ 12 and n = 120, which gives an EMI of about Rs 13,215. Over 10 years you pay about Rs 15,85,809 in total, of which about Rs 5,85,809 is interest.

Things to keep in mind

  • Tenure versus interest: stretching the same loan from 10 to 20 years lowers the EMI (from about Rs 13,215 to Rs 9,650 on a Rs 10 lakh loan at 10%) but more than doubles the total interest.
  • Floating rates: if the bank's base rate rises, so does your cost. Leave room in your budget for a rate increase.
  • Affordability: a common rule of thumb is to keep all your EMIs within about 40-50% of your monthly take-home income.
  • Prepayment: paying off part of the principal early, even once, can noticeably cut the total interest.

Frequently asked questions

Does the EMI change during the loan?

On a fixed-rate loan it stays the same. Most loans in Nepal are floating rate (base rate plus a premium), so when the bank revises its base rate your EMI or your remaining tenure can change. Re-run the calculator with the new rate to see the effect.

Is a lower EMI always better?

Not necessarily. A lower EMI usually means a longer tenure, and a longer tenure means paying interest for more months. Compare the total interest figure, not just the monthly amount.

Does this include processing fees or insurance?

No. The calculator covers principal and interest only. Bank service charges, valuation fees and insurance premiums are extra.

Can I reduce my total interest?

Yes - part-prepayments reduce the outstanding principal, so less interest is charged afterwards. Check your bank's prepayment charges first.

Results are estimates for planning. Your bank's offer letter and repayment schedule are what apply to your loan.