What is EMI?
Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.
With most loans—such as real estate mortgages, auto loans, and student loans—the borrower makes fixed periodic payments to the lender over several years with the goal of retiring the loan.
How to use this EMI Calculator
Using our free online EMI calculator is simple and straightforward. Follow these steps to get your repayment schedule:
- Enter the Loan Amount: Use the slider or type the exact principal amount you wish to borrow.
- Set the Interest Rate: Input the annual interest rate provided by your bank or financial institution.
- Choose the Tenure: Select how long you plan to take to repay the loan. You can toggle between months and years for convenience.
- View Results: The calculator instantly updates to show your monthly EMI, total interest payable, and the total amount you will pay over the life of the loan.
EMI Calculator for Home Loan in Nepal
Whether you are taking a home loan or auto loan in Nepal (NPR), the underlying mathematics of calculating an EMI remains exactly the same. Our calculator provides results formatted in your local currency.
Additionally, the Amortization Schedule provided below the calculator gives you a transparent, month-by-month breakdown. It shows exactly how much of your monthly payment goes toward reducing the principal balance versus paying off the interest. We even highlight the exact month where you cross the 50% threshold of paying off your principal amount!