What is the difference between pre-EMI and full-EMI?

The difference between pre-EMI and full-EMI lies in what you repay during the initial period of the loan: 1. Pre-EMI: You pay only the interest on the loan amount disbursed, not the principal. This usually applies when the loan is released in stages. 2. Full-EMI: You pay both interest and principal from the start, reducing the balance faster but with higher initial payments.

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Education Loan EMI Calculator

Calculate your monthly payments using the Tata Capital education loan calculator and plan your education finances with ease.

EMI Calculator

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Overview Document Required Rates and Charges EMI Calculator

Calculate Student Loan EMI

Loan amount

₹

₹75,000 ₹35,00,000

Loan duration

1 Years 6 Years

Rate of interest

10% p.a 19% p.a

Monthly EMI

Total Amount Payable

0*
Total Interest Payable

0*

Total Amount Payable

Total Interest Payable

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What is an Education Loan EMI Calculator?

An Education Loan EMI Calculator is a tool that helps you calculate your exact monthly loan repayments before you apply for a student loan. This easy-to-use tool lets you enter details such as loan amount, tenure, and education loan interest rate to instantly view your Equated Monthly Instalment (EMI). The student loan EMI calculator helps with your financial planning by giving you a clear idea of what your monthly outflow will be. You can adjust the figures to find an EMI that fits your budget, making it easier to manage your repayments over time. Use this education loan interest rate calculator to plan your studies with confidence and avoid any financial surprises.

How Does the Education Loan Calculator Help You?

An education loan EMI calculator gives you quick answers on your possible monthly repayments, saving you time and effort. With a student loan calculator for EMI, you can try various loan principal amounts and tenures to instantly see how your choices affect your EMI. This helps you make informed decisions about your loan and select a repayment plan that matches your budget. With this clarity, you avoid surprises and can apply for your student loan confidently, knowing exactly what to expect each month.

How to use Student Loan EMI Calculator

Using a Student Loan EMI Calculator is simple.

Enter the loan amount as per your requirement
Select the loan duration
You can toggle between the rate of interest to see how your EMI differs basis ROI
After selecting the above 3 values you can see an EMI value.

Formula to Calculate the Education Loan EMI

You can calculate the Equated Monthly Installment (EMI) for an educational loan using a formula or an EMI calculator. Here’s how to do it:

EMI Calculation Formula

The EMI for an educational loan is calculated using the formula:

EMI= P x R x (1+R)^n divide by (1+R)^n - 1

Where:

P = Loan amount (Principal)
R = Monthly interest rate (Annual interest rate divided by 12 and converted to a decimal)
N = Loan tenure in months

Benefits of Education Loan EMI Calculator

Easy Financial Planning: It helps you to understand the monthly commitment and plan your expenses accordingly
Compare Loan Options: Modify the values to compare loan options
Optimize Tenure: Experiment with loan tenures to find a balance between affordable EMIs and total interest cost

FAQs on Education Loan EMI Calculator

An education loan EMI calculator is a tool that helps you calculate your exact monthly loan repayments before you apply for a student loan. This easy-to-use tool lets you enter details such as loan amount, tenure, and education loan interest rate to instantly view your Equated Monthly Installment (EMI). The student loan EMI calculator helps with your financial planning by giving you a clear idea of what your monthly outflow will be. You can adjust the figures to find an EMI that fits your budget, making it easier to manage your repayments over time. Use this education loan interest rate calculator to plan your studies with confidence and avoid any financial surprises.

An education loan EMI calculator helps you estimate your monthly repayment by applying the reducing balance method.

The formula is: EMI = [P × R × (1+R)^N] ÷ [(1+R)^N – 1]

Here, P is the loan amount, R is the monthly interest rate, and N is the tenure in months. For example, a Rs. 10,00,000 loan at 12% annual interest for 60 months gives an EMI of about Rs. 22,244.

No, an education loan interest-rate calculator and an EMI calculator are not the same, though they are related. An interest-rate calculator helps you understand the rate applied to your loan and how it affects the total interest payable. An EMI calculator, on the other hand, uses that rate along with the loan amount and tenure to show your monthly repayment.

The education loan EMI calculator helps you compare loan offers by allowing you to input different loan amounts, tenures, and interest rates to understand how they impact your monthly repayments.

The difference between pre-EMI and full-EMI lies in what you repay during the initial period of the loan:

1. Pre-EMI: You pay only the interest on the loan amount disbursed, not the principal. This usually applies when the loan is released in stages.
2. Full-EMI: You pay both interest and principal from the start, reducing the balance faster but with higher initial payments.

To calculate a student budget, list all income sources and estimate expenses like tuition fees, rent, food, transportation, and supplies. Track monthly and yearly costs, adjusting for fixed and variable expenses.

While a few websites show you a full amortization schedule, you can also work it out manually using the EMI formula. Tata Capital’s EMI calculator gives you the essentials upfront - your monthly EMI, the total interest, and the total amount payable - so you get a clear picture of your repayment plan.

Missing or paying an EMI late can lead to late payment fees, increased interest rates, and a negative impact on your credit score. A penalty of 3% per month on the defaulted amount is charged in case of default on the interest or principal amount.