An EMI Calculator helps you estimate your monthly loan payments instantly based on the loan amount, interest rate and repayment tenure. Whether you’re applying for a home loan, car loan, personal loan or business loan, this EMI Calculator Nepal gives you accurate rate, total interest payable and overall loan cost. Simply enter your details, and the calculator updates the EMI using the standard bank formula.
The Equipment Finance Calculator calculates the type of repayment required, at the frequency requested, in respect of the loan parameters entered, namely amount, term and interest rate. The Product selected determines the default interest rate for personal loan product.The Equipment Finance Calculator also calculates the time saved to pay off the loan and the amount of interest saved based on an additional input from the customer. This is if repayments are increased by the entered amount of extra contribution per repayment period. This feature is only enabled for the products that support an extra repayment.The calculations are done at the repayment frequency entered, in respect of the original loan parameters entered, namely amount, annual interest rate and term in years.
Calculator Assumptions
Length of Month
All months are assumed to be of equal length. In reality, many loans accrue on a daily basis leading to a varying number of days interest dependent on the number of days in the particular month.
Number of Weeks or Fortnights in a Year
One year is assumed to contain exactly 52 weeks or 26 fortnights. This implicitly assumes that a year has 364 days rather than the actual 365 or 366.
Rounding of Amount of Each Repayment
In practice, repayments are rounded to at least the nearer cent. However the calculator uses the unrounded repayment to derive the amount of interest payable at points along the graph and in total over the full term of the loan. This assumption allows for a smooth graph and equal repayment amounts. Note that the final repayment after the increase in repayment amount.
Rounding of Time Saved
The time saved is presented as a number of years and months, fortnights or weeks, based on the repayment frequency selected. It assumes the potential partial last repayment when calculating the savings.
Amount of Interest Saved
This amount can only be approximated from the amount of time saved and based on the original loan details.
Calculator Disclaimer
The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for the product. Individual institutions apply different formulas. Information such as interest rates quoted and default figures used in the assumptions are subject to change.
The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by My Finance. It does not take into account your personal or financial circumstances.
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Standard EMI Comparison Table (Same Loan, Different Bank Rates)
Loan Amount: NPR 10,00,000 Tenure: 5 Years (60 Months) Formula Used: Standard EMI formula (universal across banks)
Bank Name
Interest Rate (%)
Monthly EMI (NPR)
Total Interest (NPR)
Total Payment (NPR)
Nabil Bank
12.50%
NPR 22,472
NPR 3,48,320
NPR 13,48,320
NMB Bank
12.75%
NPR 22,655
NPR 3,59,300
NPR 13,59,300
Laxmi Bank
13.00%
NPR 22,840
NPR 3,67,400
NPR 13,67,400
Everest Bank
12.25%
NPR 22,292
NPR 3,37,520
NPR 13,37,520
Global IME Bank
12.50%
NPR 22,472
NPR 3,48,320
NPR 13,48,320
Nepal Bank
12.00%
NPR 22,244
NPR 3,34,640
NPR 13,34,640
The EMI generetor allows users to estimate monthly loan repayments across various banks and loan types. Borrowers looking for Nabil Bank loan estimates can use the nabil bank, which provides accurate results through the nabil bank emi calculator. These tools help users understand their monthly obligations before applying for home, car or personal loans with Nabil Bank.
For NMB Bank customers, the interest calculator of nmb bank generates precise interest values based on loan amount, interest rate and tenure. This helps borrowers compare repayment plans and choose the most affordable option. Similarly, individuals exploring Laxmi Bank loan products can rely on the emi calculator laxmi bank to calculate housing, auto or personal loan installments instantly.
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Frequently Asked Questions
An EMI Calculator is a tool that helps you estimate your monthly loan installment based on the loan amount, interest rate and loan tenure. It instantly shows your EMI along with the total interest and total repayment amount.
To calculate EMI, enter your loan amount, choose the interest rate and select the repayment tenure. The calculator uses the standard EMI formula to instantly generate your monthly installment.
Yes, this EMI Calculator works for all types of loans including home loans, car loans, personal loans, business loans and education loans. You only need to adjust the loan amount and interest rate based on your loan type.
Yes. Increasing the tenure reduces your monthly EMI but increases the total interest payable. Shortening the tenure increases your EMI but lowers the overall interest cost. You can adjust tenure to find a comfortable repayment plan.
Absolutely. You can enter different interest rates to see how EMI changes for each bank. This helps you compare loan offers from banks like Nabil, NMB, Laxmi, Everest, Global IME and Nepal Bank to choose the most affordable option
