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!
What Is an Education Loan EMI Calculator?
The Avanse Education Loan EMI Calculator is a simple yet powerful tool to help you calculate EMI for education loans quickly. Just input the estimated loan amount, tenure, and interest rate, and the EMI calculator for education loan will instantly show your monthly repayment amount.
By using this education loan calculator, you can estimate your total study expenses and plan your finances wisely. Whether you're planning to study in the US, UK, Australia, or anywhere else, our EMI education loan calculator allows you to test different loan scenarios until you find the one that suits your needs best.
Education Loan EMI Calculator Features
Read MoreQuick and Accurate
The Avanse Educational Loan EMI Calculator generates results within seconds, eliminating the need for manual calculations or complex formulae.
Loan Affordability Check
The educational loan EMI calculator helps you understand what you can afford. Know how much you’ll need to repay monthly and find a loan amount that works for your budget.
Adjustable Loan Values
With our EMI calculator education loan tool, you can easily modify the loan amount, interest rate, and tenure to see how changes impact your EMI.
Compare Different Scenarios
Wondering how your EMI changes with a different tenure or loan amount? Use the EMI calculator for education loan to test multiple combinations and choose the best option.
How to Use the EMI Calculator Education Loan Tool
Using the EMI Education Loan Calculator is super easy. Fill in your loan details for instant results.
Enter Your Course Details
Adjust Your Loan and Interest Details
Check Your EMI Breakdown
Apply for a Loan
Need assistance using our education loan EMI calculator? Chat with our experts today!
Benefits of Using the EMI Education Loan Calculator
Quick and Easy Estimates
Plan your finances effectively with real-time EMI results from our education loan calculator.
Personalised Loan Planning
Adjust values to calculate education loan EMI amounts based on your budget and repayment capacity.
Interest Breakdown
Understand the split between principal and interest.
Compare Loan Scenarios
Use our EMI calculator education loan tool to visualise different repayment options and pick the most affordable one.
Frequently Asked Questions About Education Loan Interest Rates
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 ₹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.
You can use the EMI education loan calculator to quickly calculate the EMI for your loan.
No, your education loan EMI is calculated based on the disbursal date and the amount disbursed. It does not get calculated from the sanction date, which is when we issue the Sanction Letter outlining the terms and conditions of the loan.
Your EMI amount also depends on your loan tenure and interest rate. A ₹15 lakh education loan for five years with an interest rate of 12% will have an EMI of ₹33,367. The same loan amount and interest rate but with a tenure of 10 years will have an EMI of approximately ₹21,500. Use our EMI calculator for education loan to try out different combinations.
The EMI amount for repayment is calculated using a simple mathematical formula. 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. The EMI includes a portion of your principal and your total interest amount. Try our educational loan calculator to simplify the process.
The EMI calculator education loan tool uses your loan amount, interest rate, and tenure to compute your monthly EMI instantly. The EMI education loan calculator relies on the simple mathematical formula EMI = [P x R x (1 + R)N] / [(1 + R)N-1] to estimate your EMI amount. Once you input your total loan amount or principal (P), the interest rate (R), and the tenure in months (N), it instantly calculates the likely EMI amounts.
At Avanse, we offer floating interest rates, so your education loan interest rate may go up or down depending on the economic conditions and our company policies. So, your EMI may change based on fluctuations in your interest rate, market conditions, and policy changes.
Yes, you can use the Avanse education loan EMI calculator for free.