Calculate EMI for Education Loan
Yearly bifurcation of Calculated EMI
|Month||Year||EMI||Interest Amount||Principal Amount|
Frequently Asked Questions
What is education loan?
Every student needs a quality education in order to lead a complete, successful and comfortable life An Education loan is a type of loan used to help students to pay for post-secondary education and the associated tuition fees, books and supplies, and living expenses. It helps the student to complete there higher studies. Education Loan EMI might be different while the student is still in school, basically, EMI repayment of education loan in India starts after education/course get over of student. During the course period, the bank charges a simple interest rate on the loan. Education loan amount in India may differ from bank to bank.
What is Education loan interest rate in India?
Education loan intrastate rate may get differ from bank to bank. Education loan intrastate rate starts from 8.50 % up to 13.20 % per year. Some bank intrastate rate get differ from education loan and type of education amount as well. Education loan in India are floating, and banks give cheque to college on yearly basis.
Compare the two education loans and select the affordable education loan you and your child.
How to use calculator for calculate EMI for education loan?
1) We gave the slider and text boxes to enter the amount for the Loan Amount, Rate of Interest and Tenure.
2) EMI get an auto to calculate on slider change or text box value get change.
3) Below the slider we give the details of EMI amount/instalment and it gives the idea about total repayment amount (principal + interest).
4) You can also check the principle and interest amount bifurcation. And the same Bifurcation will be provided in chart format.
5) You can recalculate new payment using slider change.
6) We try to provide you EMI calculated details in charts format and table format for more understating.
7) Use the EMI Bifurcation table to check monthly instalment along with the principal and interest amount.
What is Eligibility for education loan?
Below is the list of factor which will make an impact on eligibility for education loan.
1) Academic Background - Student should have a good academic background. Marks to every year should constant and with good per cent/grade.
2) Courses - Banks mostly check the course worthiness of studying. If the course is post-graduation, diploma, PhD or technical courses which having good placement get eduction loan easily (course like MBA, Computer Application etc).
3) University / College: College or University should be reputed so banks will be sure that student will get better placement. Universities or colleges which is recognized by UGC, Govt., AICTE, AIBMS, IMCR, et
What are education loan what documents required?
1) Education loan on-line / off-line from need to fill.
2) 2 passport size photographs.
3) Previous academics mark sheets from 10th standard.
4) Income Proof of parents.
5) ID Proof of student and parent.
6) Required joint account of student with parent.
7) College document details like college fee structure.
8) Proof of admission to course.
9) Also required fully attested documents of all above.