What is an EMI calculator?
An EMI (Equated Monthly Installment) calculator works out the fixed monthly payment on a loan from three inputs: the loan amount, the annual interest rate and the repayment tenure. Instead of guessing, you can see exactly how much you would pay every month, how much of that is interest, and the total cost of the loan over its full term - useful before you commit to a home, car or bike purchase.
How is EMI calculated?
EMI is calculated on a reducing-balance basis with this formula:
EMI = P × r × (1 + r)n / ((1 + r)n − 1)
where P is the loan amount (principal), r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly installments (tenure in months). This page applies the formula instantly as you move the sliders.
Home loan EMI calculator
Planning to buy a house, flat or land in Nepal? Enter the loan amount, your bank's home-loan interest rate and a tenure (home loans often run 15 to 25 years) to estimate the monthly installment. Browse property listings and calculate the EMI for any price.
Car & bike loan EMI calculator
For a vehicle loan - a car, electric car, motorcycle or electric scooter - set the on-road price (minus your down payment) as the loan amount, add the finance company's interest rate and a tenure of 3 to 7 years. Find a vehicle in cars and bikes and check the EMI before you buy.
Frequently asked questions
What is EMI?
EMI stands for Equated Monthly Installment - the fixed amount you pay your lender every month until a loan is fully repaid. Each EMI covers part of the interest and part of the principal.
How is EMI calculated?
EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate (annual rate divided by 12 and by 100), and n is the number of monthly installments. This calculator applies that formula for you.
How can I reduce my EMI?
You can lower the EMI by borrowing a smaller amount, choosing a longer tenure, negotiating a lower interest rate, or making a larger down payment. A longer tenure reduces the EMI but increases the total interest paid.
Can I use this for home, car and bike loans?
Yes. The same EMI formula applies to home loans, car and electric-car loans, and motorcycle or scooter loans. Just enter the amount, the lender's interest rate and the tenure.
Is this EMI calculator free and accurate?
Yes, it is completely free and needs no sign-up. It uses the standard reducing-balance EMI formula that banks and finance companies use, so the figures match a typical loan quote (excluding fees, insurance and taxes).
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