EMI Calculator

Calculate your monthly loan payments for home, car, or personal loans

Loan Details

About EMI

EMI (Equated Monthly Installment) is the fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month, so that over a specified number of years, the loan is fully paid off along with interest.

How EMI is Calculated

The formula to calculate EMI is:

EMI = [P × R × (1+R)^N] / [(1+R)^N-1]
Where:
P = Principal loan amount
R = Monthly interest rate (annual rate/12/100)
N = Loan tenure in months

This calculator provides an estimate only. Actual loan terms may vary by lender. Please consult with your bank or financial institution for exact calculations.

EMI Calculation Results

Monthly EMI
Rs. 10,624
Total Interest
Rs. 137,411
Total Payment
Rs. 637,411

Payment Breakdown

Principal Amount
Total Interest

Payment Schedule

Month Principal Interest Balance

Nepal Bank Rates

Compare interest rates from major banks in Nepal:

Nepal Bank

Nepal Bank
10-12%

Nabil Bank

Nabil Bank
9.5-12.5%

Himalayan Bank

Himalayan Bank
10-13%

Standard Chartered

Standard Chartered
9-12%

Prabhu Bank

Prabhu Bank
10.5-13%

NIC Asia Bank

NIC Asia
9.75-12.25%

Interest rates shown are indicative and may vary. Last updated: July 2024. Please check with individual banks for current rates.