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About Education Planning
Education loan EMI calculator is an online tool by InvestOnline that helps an education loan applicant determines the EMI he will have to pay towards his education loan acquired from the bank. Using the education loan EMI calculator is hassle free and does not require the applicant to enter any details, except for the loan amount, tenure and the rate of interest.
The manual calculation of education loan EMI is tedious and is time-consuming and this is when the education loan EMI calculator comes into play, giving you quick and accurate details with minimal inputs that you need to provide.
Why to use InvestOnline's Education Loan EMI Calculator?
Here we give you a few reasons as to why you should be using InvestOnline's
education loan EMI calculator.
- Fast - Simply calculate your education loan EMIs in just a matter of seconds.
- Simple - You do not have to go through a training process as the loan EMI calculation is pretty simple and requires you to enter just three details- loan tenure, amount and the interest rate.
- Allows you to test different combinations - You can look for the best combination that works for you in terms of loan EMI, tenure and the amount.
- Free - The education loan EMI calculator by InvestOnline is a free tool to use and does not require you to pay any amount.
How to Use the InvestOnline Education Loan EMI Calculator?
InvestOnline has designed a user-friendly interface that enables its users to quickly know the EMI details towards their education loan. The education loan EMI calculator is user-friendly and saves your time.
You can use InvestOnline's education loan EMI calculator by providing the below details:
Consider the below example to understand the education loan EMI calculator in a better way:
Hence, InvestOnline's education loan EMI calculator makes the job easy for you by giving you an exact estimate of the EMI payable.
How to Use InvestOnline's Education Planning Calculator?
InvestOnline's education planning calculator gives you a rough estimate of the amount you will receive when your child is prepared for higher education. If you are looking to build a strong financial corpus for your child's education, then using the education planning calculator is important as it gives you accurate results of the funds you would require to fund your child's higher education.
You can use InvestOnline's education planning calculator by following the below steps :
Let's consider the below example to understand this in a better way :
This helps you plan your future investments wisely to ensure that you provide your child with the best education from the best university.
Benefits of an education loan :
How is education loan EMI calculated in India?
Here, PNR stands for
The rate of interest applicable varies from banks to banks. And that is when an education loan EMI calculator helps as it helps you assess EMIs payable at different interest rates.
FAQs on Education Loan EMI calculator -
Is it necessary to use an education loan EMI calculator?
No, it is not necessary to use the education loan EMI calculator. However, it is always advisable to do so considering the benefits of it listed above.
Does education loan involve any processing fee?
Yes, to get an education loan, the applicant will have to pay the required processing fee applied by the bank. The processing fee differs from banks to banks.
Can I contact InvestOnline to get an education loan?
Yes, you can contact InvestOnline at wealth@InvestOnline.in to get the education loan.
Can I use InvestOnline's education loan EMI calculator to calculate expense for some other purpose?
No, you cannot use InvestOnline's education loan EMI calculator to calculate expense for any other purpose as the calculator is hardcoded with pre-determined inputs.
Which are the top banks that provide education loans in India?
Top banks that provide education loans in India are SBI bank, Kotak Bank and Axis Bank.
A Postgraduate course (like an MBA) can cost anywhere upwards of Rs. 15 Lacs in India and Rs. 75 Lacs if pursued abroad. Courses pursued outside India also come with a currency risk which needs to be accounted for. Hence, the education planning calculator will help you plan the expenses well in advance.