Budget and cash flow
Loan instalment (EMI) calculator
Find the monthly instalment and the total cost of a loan.
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Monthly instalment
PKR 23,789.93
- Amount borrowed: PKR 1,000,000 (70%)
- Total interest: PKR 427,395.80 (30%)
- Total you pay back
- PKR 1,427,395.80
Year by year
| Year | Paid so far | Still owed |
|---|---|---|
| 1 | PKR 285,479.16 | PKR 854,807.42 |
| 2 | PKR 570,958.32 | PKR 686,274.47 |
| 3 | PKR 856,437.48 | PKR 490,649.10 |
| 4 | PKR 1,141,916.64 | PKR 263,576.06 |
| 5 | PKR 1,427,395.80 | PKR 0 |
How it is calculated
Interest is charged each month on what is still owed. i = yearly rate / 12 and n is the number of instalments.
Instalment = amount x i x (1 + i)^n / ((1 + i)^n - 1)
At a rate of 0 the instalment is the amount / n, and the interest is 0.
Total interest = instalment x n - amount. Total you pay back = amount + total interest.
The balance after k instalments is worked from the exact instalment and rounded once. The instalment is rounded to the paisa once.
Assumptions
- Interest at 15% a year is charged each month on what is still owed (reducing balance).
- Every instalment is the same, and the first is paid one month after the loan starts.
- Every instalment is paid on time and in full. A lender's last instalment usually differs by a few paisa.
- Processing fees, insurance, early repayment charges and tax are not included.
Results are worked out from the figures you enter and are only estimates. They are not advice.
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