How a reducing-balance EMI is calculated
SajiloTools estimates a reducing-balance EMI in Nepali rupees. Each month, interest is charged on the opening balance. It is not a bank quote.
The estimate
Enter the loan amount in rupees, the annual interest percent, and the number of months. Tenure is a whole number from 1 to 600 months. The rate can be 0 to 100 percent.
The monthly payment is the standard reducing-balance EMI. Interest each month is charged on that month’s opening balance, then the rest of the payment reduces the principal. At 0 percent, the amount is split evenly across the months.
You can use it to sketch a home loan or a car loan. The result is not a bank’s quote, and it does not include fees a lender may add.