### How to use this EMI Calculator?

The 乐兔电竞积分查询官方(乐兔电竞手游数据) Education Loan EMI Calculator is a utility tool that calculates the monthly amount payable to the lender (bank). To calculate the EMI applicable to your loan amount, you need to use the sliders and adjust the values for Principal Amount (P), Time Duration (N), and Rate of interest (R). Follow these steps to calculate your EMI Amount:
• Use the slider and select the loan amount.
• You then select the loan tenure in months.
• Move the slider and select the interest rate.
• The calculator shows you the EMI payable, total interest and the total payable amount.
• Recalculate your EMI anytime by changing the input sliders
• EMI will be calculated instantly when you move the sliders.

## 乐兔电竞直播安卓下载

The Education Loan Equated Monthly Instalment or EMIs are made up of the principal and the interest portions. It is the total amount you pay each month until you repay the entire education loan. The EMIs are generally fixed across the complete tenure of the education loan. In the starting years of your education loan, a major portion of your repayment goes towards the interest portion of the education loan. As you repay the education loan, a higher portion gets adjusted towards the principal component of the education loan. The cost of education is rising and you may not have the funds to provide quality education for your children. You might even aspire to send them abroad for higher studies, which would cost a lot of money. You can avail of an education loan from a bank or an NBFC and give your children a quality education, either in India or abroad. You don’t need to pay the EMIs on your education loan, right from the first month. It is payable even after you complete the educational course. The lender would cover the common expenses like a caution deposit, lodging fees, travel expenses, and even the purchase of a laptop or books. Banks even offer you a collateral-free education loan up to Rs 4 lakh.

## What is an Education Loan EMI Calculator?

The education loan EMI calculator is a simulation, which shows you the education loan EMIs you must pay the lender each month. If you enter the education loan amount, interest rate and the duration of the loan, the education loan EMI calculator will show you the education loan EMIs in seconds. The EMI you will pay the bank depends on the amount you borrow, the interest rate which is charged by the bank, and the duration of the loan. The education loan EMI calculator shows you the accurate monthly repayments, provided you enter the right inputs. The education loan EMI calculator consists of a formula box and three sliders showing the loan amount, loan tenure, and the interest rate. Once you fill in the details, the calculator will display the EMI (Equal Monthly Instalment) amount that you must give the bank each month, to repay the education loan. The amortisation schedule gives you the breakup of the principal and the interest repayments on a monthly basis. You get a clear picture of the amount of education loan you have repaid and the outstanding loan amount in seconds.

## How does Education Loan EMI Calculators work?

You can calculate your education loan EMI amount with the help of the mathematical formula: EMI amount = [P x R x (1+R)^N]/[(1+R)^N-1] where P, R, and N are the variables. This also means that the EMI value will change each time you change any of the three variables. ‘P’ stands for the Principal Amount. It is the original loan amount given to you by the bank on which the interest will be calculated. ‘R’ stands for the Rate of Interest set by the bank. N is the Number of Years given to you for the repayment of the loan. As EMIs are paid each month, the duration is calculated in the number of months. So, if you take an education loan of Rs 10 lakh with an average interest rate of 12%, for 2 years the EMI will be: P = 10 lakh, R = 12/100/12 (You convert to months), N = 2 years or 24 months EMI = [10,00,000 x 12/100/12 x (1+12/100/12)^24] / [(1+12/100/12)^24-1] EMI = Rs 47,073.

## Benefits of using the 乐兔电竞积分查询官方(乐兔电竞手游数据) Education Loan Calculator?

The 乐兔电竞积分查询官方(乐兔电竞手游数据) Education Loan EMI Calculator shows you the education loan EMIs in seconds. You get a clear picture of the EMIs you would pay each month. It helps you budget for the expenses and also saves for your financial goals. The amortisation schedule shows you the education loan EMIs which you have already paid off. You also get an idea of the principal outstanding on the education loan which helps you to manage your funds in a better way. You can use the 乐兔电竞积分查询官方(乐兔电竞手游数据) Education Loan Calculator from the comfort of your home or from anywhere you want.

## Factors Affecting Education Loan EMI

There are several factors which affect the EMI calculation of the education loan. As the EMI depends on the principal amount, tenure, and the rate of interest, any change in these variables may result in a change in the EMI amount. In addition to these factors, you must also look at the following points.
• The applicant must be an Indian citizen.
• The applicant must have completed his higher secondary level schooling.
• The applicant should have his Class X, XII and graduation (if applicable) mark sheets ready.
• The banks require additional documents such as admission letter of the institution.
• Fee structure from the institution is a must.
• Bank also inquires if the Institution is duly recognised by a competent authority in India or abroad or not.
• Co-applicant income documents such as salary slips or income tax returns (ITR) proof.
Some banks offer the loan even before one has secured admission into the university. As per the Reserve Bank of India (RBI) guidelines, there are no restrictions on the upper age limit.

## FAQs on the Education Loan EMI Calculator

• What does an education loan cover?
It basically covers the entire course fee (inclusive of the exam, term charges), accommodation charges (hostel, mess) and other related miscellaneous expenses.
• When will the repayment period start?
Repayment generally starts when the course is completed. There are some banks which offer a relaxation period of six months after securing a job or a year after the completion of studies for the repayment. The repayment period is generally between five to seven years, but it can be extended.
• Will the education loan EMI calculator help me understand how much EMI is payable after I repay a certain amount of principal as a lump-sum during the loan tenure?
Yes. If you feed in details of the balance outstanding principal and the tenure (provided by the bank on such prepayment), the EMI calculator will help you calculate your EMI for the balance outstanding period.
• Can the EMI, calculated by the bank be different from that calculated by the EMI Calculator?
The EMI Calculator will calculate the EMI amount according to your inputs. If when taking the education loan from the bank, you find that there are differences in tenure, interest rate, or actual principal amount (post deductions of margin money) as stated by the bank, then yes, the EMI calculated may vary.
• Can I calculate the education loan EMIs without the education loan EMI calculator?
Yes, you can but it is a complex procedure. You can input the education loan amount, interest rate and the duration of the loan in the education loan EMI calculator and get the education loan EMI in seconds.
• How does the education loan EMI calculator help you to compare the loan offers?
The education loan EMI calculator shows you the education loan EMIs for different loan amounts, duration and interest rates. You can compare the interest rates across various banks and pick the loan offer which matches your needs.
 More Calculators EMI Calculator Income tax calculator SIP Calculator PPF calculator FD Calculator RD Calculator Home Loan EMI Calculator Interest Calculator ( simple and compound included ) NPS Calculator Gratuity Calculator Personal Loan EMI Calculator Car loan emi calculator Mutual fund calculator PF Calculator Salary Calculator HRA Calculator CAGR Calculator Discount Calculator Retirement Calculator Future Value Calculator SWP Calculator Lumpsum Calculator education loan emi calculator SSY Calculator Mortgage Calculator Marriage Calculator ROI Calculator Present Value Calculator NPV Calculator LTCG Calculator Savings Calculator Child Education Planning Calculator Tax Saving Calculator Goal Planner Down Payment Calculator Lease Calculator Bitcoin tax calculator Payback Period Calculator