Calculate your monthly loan EMI (Equated Monthly Installment). See total payment and total interest at a glance.
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An Equated Monthly Instalment (EMI) is the fixed monthly payment you make to repay a loan over a set period. Our calculator computes the exact monthly payment for any loan amount, interest rate, and tenure, and shows the total interest payable over the full loan term — helping you compare options before committing.
EMI equals P multiplied by r multiplied by (1 plus r) to the power of n, divided by the quantity (1 plus r) to the power of n minus 1. Here P is the principal, r is the monthly interest rate (annual rate divided by 12 divided by 100), and n is the number of monthly instalments. A loan of one million PKR at 15 percent annual interest for 5 years produces an EMI of approximately PKR 23,790.
Total interest equals EMI multiplied by n, minus the principal. This figure, often as large as the original loan for long tenures, is what makes comparing terms valuable. Increasing your EMI slightly to shorten the tenure can save substantial amounts in total interest paid.
When comparing loan offers from different banks, the headline interest rate is not the only figure that matters. Processing fees, prepayment penalties, and insurance requirements all affect the true cost of borrowing. To compare accurately, calculate the total amount paid over the full tenure for each offer. EMI multiplied by number of instalments plus any upfront fees gives you a true cost comparison that often reveals important differences between seemingly similar loan products.
Making additional payments toward your loan principal can significantly reduce the total interest paid and shorten your loan tenure. On a home loan, making one extra EMI payment per year can reduce a 20-year tenure by 3 to 4 years and save substantial interest. Many banks allow partial prepayment without penalty. Use the EMI calculator to model different scenarios as increasing your EMI by even 10 percent can have a dramatic effect on your total interest cost over a long tenure.
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