This educational loan EMI calculator will calculate your specific tenure and interest rate in mere seconds.
This student loan interest calculator is based on the provision of four obvious and easily retrievable quantities. That’s it!
Enter different tenures and education Loan interest rates. Our interactive system is sensitive enough to find a combination that works the best for you.
This user-friendly education Loan interest rates calculator is completely free to use, now and forever.
This Education Loan Calculator is made available to you as a self-help tool for your independent use. We do not guarantee its accuracy or applicability to your circumstances. This tool is not intended to provide investment, legal, tax, or accounting advice. Figures are indicative and for illustrative purpose only. We encourage you to consult an Avanse officer for personalised assessment, additional information or advice. All Avanse Education loans are subject to approval and credit terms of Avanse Financial Services Ltd.
A textbook usually has many chapters. But, to make learning simpler, we go through the textbook one chapter at a time. Similarly, an education loan usually involves a large amount of money. Repaying such a large amount of money in one go or in lump sums, can be difficult. Therefore, to make things easier, you are allowed to repay your loan in instalments every month. These monthly payments are known as your education loan EMIs (Equated Monthly Instalments) and they need to be paid until the loan amount you have borrowed is completely repaid, with interest. But how do you know how much your EMI amount is?
EMIs are calculated using the following mathematical formula:
EMI Amount = [P x R x (1+R)^N]/[(1+R)^N-1]
Here ‘P’ stands for the principal amount, R stands for the rate of interest, and N stands for
the number of months provided to repay the loan. If your education loan amount is Rs. 5
lakhs, the rate of interest is 12% and the tenure is 24 months, then your first EMI would be
approximately Rs 23,536.
Sound like too much work? Need a quicker & easier way to check your EMI? Well, all you
have to do is use an educational loan EMI calculator. It will tell you the EMI amount of your
loan in seconds!
They are simple online tools that offer a convenient walk around the mental math required to calculate the EMIs of your loan. They are like normal calculators, only they are online. All you have to do is visit our website and find the education loan EMI calculator tool. Then just fill in some simple details about your loan and hit the submit button. Within a fraction of a second, you should have the EMI amount of your loan on the screen before you. No mental math or spreadsheet formulas are required. Just enter your details and the algorithms that power our EMI calculator will do all the hard work for you!
Our online EMI calculator is extremely easy to use. All you have to do is enter these simple details mentioned below and then hit the submit button:
Enter these details and you should have your EMI amount in just a few moments. So what are you waiting for! Use our educational loan EMI calculator now!
There are many reasons why you should use an online EMI calculator. In fact, every student borrower should use one before or just after applying for an education loan. It helps you make smart financial plans and ensures that repaying the loan is nothing but smooth sailing. Using an EMI calculator will provide you the following benefits:
Yes, besides for the education loan EMI calculator, we also offer 3 more extremely useful online calculators – the education loan eligibility calculator, the expense calculator & the repayment calculator. Not heard of these education loan calculators? Let’s find out more about them and how they can help students like you make better borrowing decisions.
This is one of the most important education loan
calculators that you need to use. As the name suggests, this calculator provides a
near-accurate estimation of your
education loan eligibility amount.
This helps you apply for the right loan amount and greatly minimizes the chance of a
rejected application. This is because, without using the eligibility calculator, you might apply
for a loan amount that is beyond your eligibility, due to which your application might not be
approved.
This is another extremely simple yet very helpful calculator. Students
can use the expense calculator to check how much money they may need to borrow for the
entire duration of their course. This will help you borrow a loan amount that is in sync with
your needs.
Without using this education loan calculator, you might borrow more than you need. While
this is a good safety precaution, you should also note that you could be paying interest on
an amount of money that you will never use.
Did you know you can enjoy amazing savings by prepaying your
education loan. Want to know exactly how much you can save? Well, just use our education
loan repayment calculator. It will provide you with a near-accurate estimation of your
savings based on the amount/type of prepayment you wish to make.
Using these 3 education loan calculators can be immensely beneficial for borrowers. They
will help you make streamlined borrowing decisions and ensure you have a smooth
experience with your education loan. And, just like the education loan EMI calculator, all 3 of
the online calculators are easy to use & provide results in seconds!