EMI Calculator
Calculate your Equated Monthly Instalment for any Nepali bank loan
* Calculated using Reducing Balance method as per Nepali banking standard (NRB guidelines).
| Month | EMI | Principal | Interest | Balance |
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What is EMI?
An Equated Monthly Instalment (EMI) is a fixed monthly payment made to a bank or financial institution to repay a loan. Every EMI has two components: principal repayment and interest payment. In Nepal, all major banks including NMB Bank, Nabil Bank, Nepal Investment Bank, and Global IME Bank use the Reducing Balance method for EMI calculation.
EMI Formula (Reducing Balance Method)
EMI = [P × r × (1+r)ⁿ] ÷ [(1+r)ⁿ − 1] — where P = Principal loan amount, r = Monthly interest rate (Annual rate ÷ 12 ÷ 100), n = Total months of loan tenure. This is the standard formula as per Nepal Rastra Bank (NRB) guidelines.
The EMI Calculator is one of the most useful calculation tools to find and track your monthly payment to your loan liabilities. Using this EMI Calculator Nepal, you can easily calculate and get the schedule of your monthly instalment. Using this calculator, you will get the clear idea of the Loan Principal, Total Interest Payable, including the Monthly EMI Amount and total payable based on your Loan amount, the Annual Interest rate set by your bank and loan tenure/ period.
EMI Calculator Nepal
So, if you are planning to take a loan from any BFIs or want to know the monthly payment schedule and EMI and get to know the Opening balance of each schedule, then this Loan Amortization Schedule will definitely help you to give a crisp and clear idea. We have designed this EMI Calculator and Breakdown to make it easy to know your EMI Payment in every period.
How to Use EMI Calculator
It’s easy to use this EMI Calculator and Breakdown (NPR). Here, you have to enter your total disbursed loan amount, the interest rate charged by the bank, and the period until you aim to clear it. Here are the steps for your idea,
- Enter the Amount of the Loan you want to take from the bank or the loan amount you have in the Loan Amount.
- Enter the interest rate in Annual Interest Rate, set by the bank for your loan.
- Set the years in Loan Term, it’s the no. of years/ period until you have to clear the loan,
- Tap/ click on Calculate & Show Schedule. That’s it.