Use Our Education Loan EMI Calculator
Want an estimate of your education loan EMI? Let us know a few details and we’ll help you!
While using the educational loan interest calculator, you must remember that it does not provide accurate results. The calculator will provide an estimated EMI based on the information available. Your actual EMI may change depending on the interest rate applied and the tenure. If you want a better analysis of your finances and financial situation, consult a qualified professional.
While using the educational loan interest calculator, you must remember that it does not provide accurate results. The calculator will provide an estimated EMI based on the information available. Your actual EMI may change depending on the interest rate applied and the tenure. If you want a better analysis of your finances and financial situation, consult a qualified professional.
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Avanse Education Loan EMI Calculator
Opting for an education loan is a prudent choice. Many students come to the conclusion after a lot of careful thought and consideration. Before going ahead with the application process, it’s a good idea to get a rough idea about what your potential EMIs might be. With the Avanse study loan calculator, you can understand your estimated EMIs with ease. Simply enter your loan amount, tenure and expected rate of interest for instant answers.
Our educational loan interest calculator offers you the following benefits:
Swift - Get instant EMI estimates online
Simple - You need to enter just three details to get your EMI estimate
Dynamic - Insert different combinations of loan amounts, tenure lengths and interest rates to find a combination that works best for you
100% Free - Our online study loan calculator is free to use
Avanse Education Loan Interest Rates
While using the education loan EMI calculator, you must remember that Avanse works with a floating education loan interest rate in India. We do this to ensure you always get the most competitive education loan rate of interest. We calculate the interest on your loan using the formula: Interest = Avanse Base rate (+) spread.
To get an estimate of your monthly EMI, you can use the base rate of 13.15% (WEF 01.07.2022) on the education loan calculator. The spread changes periodically based on your overall credit and course profiling. We use a simple interest rate with monthly rest to calculate the interest rate for education loans.
What Are Education Loan
EMI Calculators?
An education loan EMI calculator allows you to understand your financial obligations once you opt for an education loan. They work like normal calculators. To use the Avanse education loan EMI calculator, you can visit our website and locate the online EMI calculator tool. You have to enter a few details about your loan and click the 'Calculate' button. We’ll tell you what your estimated EMI will be within a fraction of a second. You won’t need any spreadsheets or formulae or mental maths. Our powerful EMI calculator algorithm will do all the work for you.
How to Use an Education
Loan EMI Calculator
The Avanse online EMI calculator is extremely easy to use. All you need to do is enter these details:
Your Loan Amount
Your Interest Rate
Your Loan Tenure
Once you click the Calculate button, you’ll see your estimated EMI amount. Using our educational loan interest rate calculator is really that easy!
It’s great that you want to learn more about how to calculate EMI for an education loan. At Avanse, we use the following mathematical formula to calculate your EMI:
EMI = [P x R x (1 + R)N] / [(1 + R)N-1]
P stands for the principal amount, which is your actual loan amount. R refers to the rate of interest and N is your tenure in months. Let’s assume you have borrowed INR 5 lakhs at the interest rate of 12%. You have opted to repay the loan in 2 years, which is 24 months. Your estimated EMI works out to INR 23,536 per month.
Of course, we understand you may not want to work out all the maths by yourself. If you’d like to check your EMI in a quick and easy way, you can use the education loan calculator. Our online EMI calculator for education loan will tell you your EMI amount in just a few seconds.
Why Use an Education Loan
EMI Calculator?
The student loan calculator makes it very easy for you to understand your estimated EMI.
But that’s not the only reason why you should use the calculator. Here’s a look at the benefits of using the Avanse education loan EMI calculator.
Quick Estimates
The online student loan interest calculator provides quick estimates. Once you enter your loan amount, interest rate and tenure, you’ll get an EMI estimate within a few seconds. You don’t have to worry about mental maths or complicated formulae.
Easy Planning
When you know what your estimated EMIs are, you can plan the rest of your monthly finances. Once you allocate funds for your education loan EMI, you know how much you have to cover the rest of your expenses. Once the repayment phase starts, you will be prepared.
Accurate Calculations
The most crucial reason why you should use a student loan calculator is that it gives you a fairly accurate understanding of your finances. The interest calculator for education loan uses a complex algorithm to give you error-free and precise calculations. Of course, if your loan tenure or interest rate for education loan changes, your EMI will get affected.
Ease of Use
The education loan interest rate calculator is incredibly easy to use. You do not have to worry about working out the calculations by yourself. Instead, you simply have to enter your loan amount, interest rate and tenure to instantly see your estimated EMI.
Various Permutations and Combinations
You can use the education loan EMI calculator to understand how a shorter tenure or higher interest rate will affect your EMI. You can work out the various combinations until you find an EMI amount that matches your monthly budget. By checking various combinations, you will better understand what kind of tenure and abroad education loan interest rate works best for you. You can then find a loan provider that offers you what you need.
Are There Other Education Loan
Calculators I Can Use?
Yes, absolutely. We want you to have all the information you need to make informed decisions. We offer three more useful online calculators. You can use our education loan eligibility calculator, expense calculator or repayment calculator. Here’s how each of these education loan calculators can help you make better borrowing decisions.
Our education loan repayment calculator enables you to save when you prepay your loan. You can use the calculator to check how a large prepayment amount will affect your EMIs going forward. You can also choose a shorter tenure amount if you have the ability to pay higher EMIs and complete repaying your loan faster. The repayment calculator provides you with almost accurate estimates of how a prepayment or change in tenure will impact your remaining EMIs.
With these three education loan calculators, you can make informed decisions. You can streamline the loan process and enjoy a smooth education loan journey. And, just like our education loan EMI calculator, our other three online calculators also offer instant answers in a few seconds.
Know MoreThere are many factors that determine your eligibility to apply for an education loan. You can use this calculator to input information about your family’s current financial situation to understand your eligibility to take a loan. The calculator will also let you know what loan amount you can apply for. If you apply for a loan amount that is over your eligibility, you run the risk of your application getting rejected.
Know MoreOur simple education loan expense calculator lets you know how much you may need to borrow for the duration of your course. By checking this calculator, you can understand the loan amount you should get. If you do not use the education loan expense calculator, you may end up borrowing more than you require, which could impact your monthly finances. Conversely, you might borrow too little, which means you may have to opt for a top-up loan at a later date.
Know MoreIt's okay to have questions, because we've got answers!
You must input your loan amount, interest rate and tenure in the Avanse Education Loan EMI Calculator. It will then show you your estimated EMI amounts.
You can use different loan tenures in the calculator to see how it impacts your EMI amount. However, do not choose a loan tenure more than what lenders offer. Generally, you have 120 months to repay your loan.
The student loan EMI calculator helps you understand how the loan amount, interest rate and tenure impact your monthly payments. You can use the calculator to identify the combination of the loan amount, interest rate and tenure that leads to affordable EMIs for you.
The current interest rate is between 10% and 16.5%. The rate varies depending on the loan amount, your credit rating and whether you offer collateral or not. The interest rate for the Avanse education loan is calculated as: Interest Rate = Avanse Base Rate + Spread. The base lending rate is 13.5%. The spread is floating and is based on an analysis of overall credit and course profiling. Please note that the interest rate may vary due to various macroeconomic factors and our internal company policies.
At Avanse, we specialise in education loans and nothing else. We will walk you through the entire loan process and ensure that you have no stress at all while preparing for your higher studies. We also provide:
- Bridge loans
- Score-based benefits
- Pre-admission loans
- Fast-track loans
- Funds availability certificate
You also benefit from:
- 100% financing
- Flexible repayment options
- Quick sanctions
- Customisable loans
- Door-step service
