EMI calculator
Work out the monthly instalment on a loan, what it costs in total, how much of that is interest, and what paying a little extra would save.
You would pay रू 22,244.45 every month for 60 months.
Altogether that is रू 13,34,666.80 — the रू 10,00,000 you borrowed plus रू 3,34,666.80 of interest.
Early instalments are mostly interest and later ones are mostly principal, because interest is charged on what is still owed.
| Year | Principal paid | Interest paid | Still owed |
|---|---|---|---|
| Year 1 | 1,55,290.26 | 1,11,643.14 | 8,44,709.74 |
| Year 2 | 1,74,984.98 | 91,948.42 | 6,69,724.76 |
| Year 3 | 1,97,177.44 | 69,755.96 | 4,72,547.32 |
| Year 4 | 2,22,184.49 | 44,748.91 | 2,50,362.83 |
| Year 5 | 2,50,362.83 | 16,570.37 | 0 |
- Try the extra-payment box under "More options" to see what even a small monthly top-up would save.
- Ask the lender for the same figures in writing before you sign. A quoted rate can be flat rather than reducing, which costs far more.
- Interest is charged on the reducing balance, not on the original amount.
- The rate stays the same for the whole term.
- Every instalment is paid in full and on time, starting one month after the loan is taken.
- The instalment is rounded to the nearest paisa; the last one is adjusted so the balance closes at exactly zero.
- No processing fee, insurance, late charge or early-settlement fee is included — lenders add these separately.
A worked example
The form starts with these figures (in NPR) so you can see how it works before typing your own. They are made up — nobody's real numbers appear here.
Questions people ask
What is EMI?
An equal monthly instalment. The amount stays the same every month, but the split inside it changes: early on most of it is interest, later most of it is principal.
Why is the total so much more than what I borrowed?
Because interest is charged for every month the money is outstanding. The longer the term, the smaller the instalment and the larger the total.
Is this the same as flat interest?
No. This is reducing-balance interest, charged on what you still owe. Flat interest is charged on the original amount for the whole term and costs considerably more for the same quoted rate. Always ask which one a lender means.
Will my bank give exactly this number?
It should be very close. Small differences come from fees, from the day of the month you pay, and from how the lender rounds. Ask for their own schedule in writing.
Do you keep what I type here?
No. The figures are used to work out the answer and are not stored, and they never appear in the page address.
These are estimates. The figures depend entirely on the numbers you enter and on assumptions that are listed on every result. They are not financial advice, and a bank, employer or authority may use different rules. Check anything important with them before you decide.
We do not keep your figures. Salary, debt and savings you type here are used to work out the answer and are not stored, and never appear in the page address. The only thing remembered is your country and language choice (a small cookie), so the currency can be suggested next time — never a figure you typed. Anonymous counters record that a calculation happened, not what it was.