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Shiksha Udaan Capital offers an online tool for students to calculate their monthly education loan EMI. This tool also provides an amortization schedule displaying the breakdown of EMI into monthly interest and principal repayment amounts.
In addition, it offers an overview of the loan repayment process, showing the amount paid back as well as the outstanding balance. By enabling you to calculate the total interest paid throughout the loan, the schedule also helps with overall cost estimation for education loans.
Shiksha Udaan Capital’s education loan EMI Calculator offers an exceptional level of customization. It allows you to consider various factors such as your grace period, flexible disbursals, and processing fees. This unique feature allows you to tailor your loan repayment plan according to your specific needs and preferences. It also suggests different types of EMI, including full interest, partial interest, and full EMI. You may also examine and download the entire loan repayment schedule which will assist you in creating a more systematic and planned financial strategy.
To calculate the monthly installment for an education loan, simply enter the loan amount (Principal), the interest rate, and the loan tenure (in months) into the EMI calculator. The calculator will instantly compute the education loan EMI using a mathematical equation.
EMI = [P x R x (1 + R)n]/[(1 + R)n – 1]
where P = Principal, R = Rate of Interest, and n = Tenure/duration in number of months
The online tool can serve as both an education loan EMI calculator and an interest calculator. It allows you to input different values to see how they affect the overall repayment amount.
All banks and financial institutions provide similar interest rates for education loans. However, due to the long-term nature of these loans, even a small variance in interest rates can result in significant savings for borrowers.
Find out the differences in EMI calculations among different lenders offering education loans.
Many leading banks and financial organizations provide various education loan EMI calculators for students. Yet, we discovered that some essential features were absent. For instance,
SBI Education Loan EMI Calculation Tool calculates the repayment schedule using two distinct methods. One calculation involves interest being paid throughout the course, while the other calculation does not include interest payments during the study period. This option is very adaptable because it lets you consider prepayment. However, you can’t make partial payments while studying, and you can’t choose when to disburse your loan – the calculator assumes you’ll disburse the entire loan at once. Unlike the Shiksha Udaan Capital Student Loan EMI Calculator, the SBI Education Loan EMI Calculator does not include the option to access and save the loan repayment schedule report.
The EMI calculator for education loans from AXIS Bank assists in determining the monthly installment amount for repaying the loan. It considers factors such as the loan amount, annual interest rate, duration of the loan in months, and any processing fees involved. Besides calculating the EMI, the AXIS bank education loan EMI calculator also evaluates your eligibility for the loan. Nonetheless, despite these options, the Axis Education Loan EMI calculator has some drawbacks. There are no options available for customizing the grace period, partial disbursal, or repayment schedules. Moreover, the complete payment schedule is not visible in a single glance.
The BOB Education Loan EMI Calculator is a tool that helps you determine your monthly loan payment. It does this by taking into account the principal amount, the rate of interest, and the loan term. By inputting these details, you may easily calculate how much you need to pay each month towards your education loan. In terms of the total amount paid and interest paid, it also provides a graphic depiction of the loan paid in Rupees compared to the number of years that have passed. The Annual Percentage Rate, or APR, calculation is also included in the BOB education loan EMI calculator. Similar to other calculators, the BOB Education Loan EMI calculator does not offer personalization options. The applicant’s needs cannot be accommodated when it comes to adjusting the disbursal schedule. Additionally, partial payments are not allowed, and there is also a lack of information regarding the repayment schedule.
EMI is calculated using the loan amount, loan tenure in months, and yearly rate of interest in the Avanse Education Loan EMI Calculator. The Avanse Education Loan EMI calculator offers a few customization options for repayment. These include the ability to make extra payments, opt for larger EMIs, or choose shorter tenures. Even with its advantages, the tool cannot consider partial payments, and grace periods, and does not include the feature to view the repayment schedule report.
Student loan EMI may be effortlessly and quickly calculated with the help of the Auxilo Education Loan EMI Calculator. To calculate your EMI, all you have to do is enter the education loan amount in Rupees, the loan tenure in years, and the yearly rate of interest in percentage into the online Auxilo education loan EMI calculator. The Auxilo Education Loan EMI calculator performs more effectively than other EMI calculators due to its additional features for customization. Users may adjust repayment options such as making extra payments, opting for larger EMIs, or choosing shorter tenures. However, the tool has some shortcomings that need to be addressed. It currently does not take into account partial payments, or grace periods, and does not provide the option to view the repayment schedule report.
Incred Education Loan EMI Calculator is an easy-to-use tool for calculating student loan EMIs online. All you have to do is input the loan amount in Rupees, the interest rate in percentage, and the loan tenure in years. This will allow you to calculate your EMI effortlessly. The EMI Calculator is extremely simple. It doesn’t have any options for customization and only offers the most basic functions. It doesn’t include features like partial payments, grace period, flexible disbursal, and loan repayment schedule report, which are all absent in the Incred Education Loan EMI Calculator.
Shiksha Udaan Capital’s EMI calculator for education loans is simple to navigate and provides instant calculations. It is versatile enough to work with different parameters and is accessible at no cost. Moreover, utilize the various customization options to swiftly calculate your accurate EMI. Furthermore, take advantage of the opportunity to view and download the loan repayment schedule report. This will enable you to efficiently and systematically plan your financial arrangements for the forthcoming years.
Our Education loan EMI Calculator stands out as the ultimate tool for flexibility and customization. With its wide range of features, it offers a comprehensive experience like no other EMI Calculator available.
Students who want to further their education, whether at an Indian or international college, can apply for an education loan. Students can obtain loans for both undergraduate and postgraduate studies. Students who are enrolled in professional courses like law, medicine, engineering, management, science, economics, etc., can avail an education loan.
In some cases, financial institutions may offer loans for vocational and diploma programs. The main requirement for these courses is that they should be focused on preparing students for employment in a specific industry.
Education loans are offered by almost every public sector bank in India, as well as a few private sector banks. Axis Bank, SBI Bank, Bank of Baroda, and HDFC are some examples. There are differences in the terms and conditions of loans provided by various banks. In addition to traditional banks, there exist numerous Non-banking financial corporations (NBFCs) that have expertise in providing education loan options. Some notable examples include Avanse, Incred, and Credila.
Students have the opportunity to obtain an education loan with the support of a parent or guardian who serves as the loan guarantor. Additionally, for secured loans, a valuable asset such as a house must be pledged as collateral to secure the loan. After the loan is approved, students can provide the approval letter to their educational institution or visa authorities for further processing. The institute receives direct disbursement from the bank/NBFC every time a demand is placed. The student can receive living expenses directly. No payments are required to be made to the lender while you are in the process of studying. Once you begin working, you will be required to repay the loan within a specified timeframe known as the repayment period.
The loan includes expenses such as tuition fees, examination fees, the cost of books, and accommodation. Certain financial institutions may also provide coverage for purchasing a two-wheeler (applicable for domestic loans) and a one-way air ticket (applicable for international loans).
EMI stands for Equated Monthly Instalments, which are calculated by dividing the total loan amount by the interest payable and then distributing it into equal monthly repayments. Each month, the fixed EMI includes a specific amount towards the repayment of the principal and another portion towards the interest.
The Equated Monthly Installment (EMI) remains constant over the loan tenure unless there are changes in the interest rate or partial payments made toward the loan principal. This ensures that borrowers have a predictable repayment schedule and can plan their finances accordingly.
The EMI calculator designed for education loans offers a user-friendly interface for easy navigation. To calculate your monthly installment, simply enter the Loan Amount, the Number of Months or the Tenure of the Loan, the Interest Rate, and the Course Duration. The calculator will then provide you with the exact EMI amount that you will need to pay each month.
The calculator offers functionalities that present the overall interest amount you will incur throughout the loan. Consequently, you can conveniently compare this figure with the Principal amount owed.
Furthermore, it grants you the option to view and download a comprehensive monthly repayment schedule.
The flexibility of this education loan EMI calculator allows users to customize their parameters. Unlike other calculators, it is not restricted to fixed inputs that are tailored to a specific institution or bank. Users have the freedom to input variables such as interest rate, tenure, course duration, and loan amount to determine payments for various hypothetical situations.
Utilizing our education loan EMI calculator, you will gain valuable insights into the monthly distribution of your EMI payments. This breakdown will clearly illustrate the proportion of the Principal Amount and the Interest Amount for every installment you make, allowing you to manage your finances more effectively.
Your disbursement pattern plays a crucial role in determining the repayment schedule. It refers to the specific amounts you will disburse each month throughout your education. Additionally, if you find yourself needing to make repayments while still studying, our EMI calculator can accommodate that as well.
When an individual borrows money from a bank, they are required to pay a fixed EMI amount each month to repay the loan. Even though the EMI remains constant, the proportion of principal and interest in each installment changes monthly. Initially, a larger portion of the EMI goes towards paying off the interest, gradually decreasing as the loan term progresses. Essentially, the bank aims to recover most of the interest charges in the early stages of the repayment period.
To achieve this, the bank can make sure to collect as much interest as it can if the student pays off the loan early. If the student decides to close the loan before the scheduled time, the bank may lose out on some interest that it would have received if the loan was paid off according to the original plan.
Yes. When a part of the loan is repaid, the Equated Monthly Installment (EMI) will change accordingly. To calculate the new EMI, the user needs to input the updated Outstanding Loan Amount in the Loan Amount section and the remaining number of months in the Tenure section. Assuming the interest rate remains the same, the new EMI can be determined using this method.
Shiksha Udaan Capital aims to support your dream of attaining a high-quality education and provide students with easy access to personalized educational finance alternatives.
