EMI Calculator

Work out the monthly instalment for a home, car or personal loan, plus how much of it is interest - for students in Nepal. 100% free, no watermark, offline.

Loan amount Rs. 10,00,000

Interest rate (p.a.) 10.5%

Tenure 5 years

Monthly EMI

Rs. 21,494

Principal Rs. 10,00,000 Interest Rs. 2,89,634

Rs. 12,89,634

Total repayment

60 months

Instalments

EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), with monthly compounding. Actual bank schedules may differ slightly.

What an EMI actually is

EMI stands for Equated Monthly Instalment - the fixed amount you pay to a bank every month to repay a loan. Each payment covers part of the borrowed principal plus the interest for that period, and the amount stays the same across the whole tenure for a fixed rate. In Nepal you see EMIs on home loans, auto loans, personal loans and education loans, and they are quoted in Nepali rupees.

The EMI formula, explained

The maths is EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the principal, r is the monthly interest rate (yearly rate divided by 12 and by 100), and n is the number of monthly payments. Raising (1+r) to the power n is what makes the loan compound month by month. This calculator does that sum for you the moment you move any slider.

Home, car and personal loan tenures in Nepal

Nepali banks typically offer home loans up to 20 or 30 years, auto loans around 5 to 7 years, and personal loans from 1 to 5 years. A longer tenure lowers your monthly EMI but increases the total interest paid. Use the tenure slider to balance an affordable monthly payment against the overall cost of the loan.

Fixed vs floating interest rates

Most Nepali loans use a floating rate linked to the bank’s base rate plus a spread, so your EMI can move when the base rate changes. Some schemes offer a fixed rate for an initial period. This calculator assumes the rate you enter stays constant; to model a rate change, just move the rate slider and compare the new EMI.

How much of your EMI is interest

Early in a loan, most of each EMI goes toward interest and only a little reduces the principal - this is called front-loading. The coloured bar in this tool shows the principal versus interest split of your total repayment, so you can see how much extra a longer tenure really costs you.

Using this calculator before you borrow

Before signing a loan in Nepal, compare the EMI and total interest for a few tenures and rates to find a payment that fits your monthly budget. Remember banks also add processing fees and sometimes loan insurance on top, so keep a small buffer beyond the EMI shown here.

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Made for loans in Nepal

Who checks EMI and total interest before borrowing from a bank or co-op.

Home & land buyers

Nepalis taking a home or land loan from a bank check the monthly EMI and total interest before signing.

Vehicle loans

Buyers of bikes and cars compare EMI across tenures and down-payments at the showroom.

Education loans

Students and parents plan repayment of education loans with a clear monthly figure.

Small businesses

Owners taking a working-capital loan see the monthly commitment before borrowing.

Personal loans

Borrowers compare offers from banks and cooperatives using the EMI and total cost.

Financial advisors

Advisors show clients the impact of extra prepayment on the loan tenure.

What is an EMI calculator, and how does this free Nepal tool work?

EMI (Equated Monthly Installment) is the fixed monthly payment on a loan, covering principal and interest. An EMI calculator shows that figure plus total interest. Scolar’s tool is free and browser-only: enter the loan amount, interest rate and tenure, and see the EMI instantly. No sign-up, no watermark, nothing uploaded.

Why it is free, with no sign-up and unlimited use

The calculation runs on your device, so no loan details are uploaded and no account is needed. That keeps the tool 100% free, adds no watermark, asks for no email, and lets you compare unlimited scenarios.

How to calculate EMI, step by step

Enter the loan amount, annual interest rate and tenure (months or years).
Optionally add a prepayment to see the reduced tenure or EMI.
See the monthly EMI, total interest and total payable instantly.

Loans in Nepal

Whether it is a home loan from a commercial bank, a bike loan, or a co-operative advance, knowing the EMI and total interest helps you borrow wisely. The tool works offline after loading, so you can compare numbers at a branch or showroom without internet.

“A Nepali taking a loan should not pay a fee just to know the EMI. Enter amount, rate, tenure — see it free.”

EMIs planned free in Nepal

I compared two bank loans and this EMI tool showed which had lower total interest. Helped me decide — free, no signup.

SB Suresh Bhandari Home buyer · KTM

At the showroom I checked EMI for 3-year vs 5-year. The numbers were clear and I picked the cheaper one.

PS Priya Shrestha Car buyer

Before taking a business loan I wanted the monthly hit. This gave EMI and total interest instantly on my phone.

DR Dinesh Rai Small business owner

Frequently asked questions

What loan tenures do Nepali banks offer?

Home loans commonly run 10 to 30 years, auto loans about 5 to 7 years, and personal loans 1 to 5 years. A longer tenure lowers the monthly EMI but raises total interest. Adjust the tenure slider to see the trade-off for your loan.

Does this calculator include processing fees or insurance?

No. It shows the pure principal and interest EMI for the rate and tenure you enter. Nepali banks usually add a one-time processing fee and may bundle loan insurance, so budget a small extra amount beyond the figure shown here.

What happens if the interest rate changes after I borrow?

Most Nepali loans are floating and linked to the bank’s base rate, so your EMI can rise or fall when that rate moves. Re-run this calculator with the new rate to estimate the revised monthly payment or the adjusted tenure your bank may offer.

Can I calculate EMI for a reducing-balance loan?

Yes. The EMI formula used here is the standard reducing-balance method that Nepali banks apply, where interest is charged on the outstanding principal each month. The result matches how your bank amortises the loan.

How accurate is this compared with my bank’s schedule?

The formula is the same one banks use, so the EMI will match closely. Small differences can appear from rounding, from a different day-count convention, or if the bank adds fees - your sanction letter is the final authority.

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