EMI Calculator
Calculate your monthly loan EMI, total interest, and payment breakdown instantly.
Rs.
per year
%
months
Enter loan details and click Calculate
Fill in the loan amount, interest rate, and tenure to see your EMI.
About this tool
EMI (Equated Monthly Installment) is the fixed amount you pay every month to repay a loan over a set tenure. Use this free EMI calculator to plan home loans, car loans, personal loans, education loans, or business loans. It uses the standard reducing-balance formula used by Nepali and Indian banks, shows total interest payable, and gives you a full year-by-year breakdown. No sign-up, no data stored.
How to use EMI Calculator
- Enter the loan amount (principal) in NPR, INR, or any currency.
- Enter the annual interest rate offered by your bank (e.g., 10.5%).
- Enter the loan tenure in years or months.
- Click "Calculate" to see the monthly EMI, total interest, total payment, and a full amortization schedule.
Examples
| From | To |
|---|---|
| Rs 50,00,000 @ 10% / 20y | EMI Rs 48,251 |
| Rs 15,00,000 @ 12% / 5y | EMI Rs 33,367 |
| Rs 5,00,000 @ 16% / 3y | EMI Rs 17,962 |
| Rs 20,00,000 @ 9% / 10y | EMI Rs 25,280 |
Frequently Asked Questions
What is EMI?
EMI stands for Equated Monthly Installment. It is the fixed amount a borrower pays every month to a lender. Each EMI includes both a principal component and an interest component.
How is EMI calculated?
EMI is calculated using the formula: EMI = P × r × (1 + r)^n / ((1 + r)^n − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly installments.
What is the difference between flat rate and reducing balance EMI?
In a flat rate loan, interest is calculated on the full principal for the entire tenure. In a reducing balance loan (used by most banks), interest is calculated on the outstanding principal, which decreases each month. This calculator uses the reducing balance method.
How can I reduce my EMI?
You can lower your EMI by making a larger down payment, choosing a longer tenure, negotiating a lower interest rate, or making prepayments to reduce the principal.