If you enter the education loan amount, interest rate and the duration of the loan, theĮducation loan EMI calculator will show you the education loan EMIs in seconds. The education loan EMI calculator is a simulation, which shows you the education loan EMIs you must pay the What is an Education Loan EMI Calculator?
The lender would cover the common expenses like a caution deposit, lodgingįees, travel expenses, and even the purchase of a laptop or books. It is payable even after youĬomplete the educational course. You don’t need to pay the EMIs on your education loan, right from the first month. You can avail ofĪn education loan from a bank or an NBFC and give your children a quality education, either in India or abroad. You might even aspire to send them abroad for higher studies, which would cost a lot of money. The cost of education is rising and you may not have the funds to provide quality education for your children. Principal component of the education loan. As you repay the education loan, a higher portion gets adjusted towards the
In the starting years of your education loan, a major portion of your repayment goes towards the interest The EMIs are generally fixedĪcross the complete tenure of the education loan. Is the total amount you pay each month until you repay the entire education loan. The Education Loan Equated Monthly Instalment or EMIs are made up of the principal and the interest portions.
