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GXS Help Centre

How do I calculate the monthly repayment amount of my Instalment Loan?

The interest payable component forms part of your Equal Monthly Instalment (EMI) amount, which is reflected in-app in your repayment schedule. For example,

Annual Percentage Rate (APR): 3% p.a.
Effective Interest Rate (EIR): 5.69% p.a.
Tenure: 3 years
Loan drawn: S$10k

Total interest payable = Loan * APR * tenure
= S$10,000 * 3% / 365 * (365 * 3 years)
= S$900

EMI amount = (interest payable + principal) / tenure
= (S$900 + S$10,000) / 36 months
= S$302.78

Your monthly repayment amount over the 3 year tenure will therefore be S$302.78.

*The Annual Percentage Rate (APR) represents the total borrowing cost, expressed as a yearly rate, relative to the initial loan amount.
The Effective Interest Rate (EIR) is the rate that reflects the true cost of borrowing and takes into account total charges. It's computed over a reducing balance basis and accrued daily.

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