EMI Calculator (Home, Car, Personal Loan)
Monthly instalment, total interest and yearly repayment schedule for any loan.
■ Principal ■ Interest
Year-by-year repayment schedule
| Year | Principal paid | Interest paid | Balance |
|---|
Free tool by EngineeringNepal.com.np · Results are for guidance; check critical figures with a qualified engineer.
How EMI is calculated
EMI (equated monthly instalment) is the fixed amount you pay the bank every month until the loan is cleared. In the early years most of each instalment goes to interest; later, more goes to the principal. The standard formula is:
EMI = P × r × (1 + r)n ÷ [(1 + r)n − 1]
where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of months.
Example: a home loan of Rs 50 lakh at 9.5% for 15 years gives an EMI of about Rs 52,211. Over 15 years you would pay about Rs 44 lakh in interest.
Things to know about loans in Nepal
- Most bank loans in Nepal have a floating rate linked to the bank's base rate, so your EMI or loan period can change when the base rate changes.
- Banks also charge a service fee, and valuation and documentation costs, which are not part of the EMI.
- Prepaying part of the loan early cuts total interest the most. Check the prepayment charge first.
Frequently asked questions
How much loan can I get for building a house?
Banks look at your income and the value of the land and building. Use the house construction cost estimator to know the budget, then test different loan amounts here.
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