How This EMI Calculator Works
This online EMI (Equated Monthly Installment) calculator helps you quickly figure out your monthly loan payments, total interest, and total payment over the loan tenure. Here’s how it works:

1. Enter Loan Amount

• Type your loan amount in Nepali Rupees (Rs.) in the input box or use the slider to adjust the value.
• Example: Rs 500,000

2. Set Annual Interest Rate

• Enter the annual interest rate (%) charged by your bank or financial institution.
• You can type the value or use the slider for quick adjustments.
• Example: 12%
  

3. Select Loan Tenure

• Specify the loan tenure in months.
• Again, you can either type the number of months or use the slider.
• Example: 24 months (2 years)
  

4. Automatic EMI Calculation

• As soon as you enter the values, the calculator computes the monthly EMI automatically using the standard EMI formula:

$$EMI = \frac{P \cdot R \cdot (1+R)^N}{(1+R)^N - 1}$$

Where:

• $P$ = Principal loan amount
• $R$ = Monthly interest rate (annual rate ÷ 12 ÷ 100)
• $N$ = Tenure in months
  

4. View The Results

• Monthly EMI – Amount you pay every month
• Total Interest – Total interest paid over the loan tenure
• Total Payment – Sum of principal + interest
  

6. Real-Time Updates

• Any change in loan amount, interest rate, or tenure instantly updates the EMI, interest, and total payment.
• This allows you to experiment with different scenarios and plan your finances better.