Student Loan EMI Calculator | Education & Study Loan EMI

Estimate your EMI and year-wise repayment schedule for your education loan.

Live EMI preview
Year-wise principal vs interest
Loan Amount
INR
—
₹1,00,000 ₹1,00,00,000
Loan Tenure 12 years
1 year 15 years

This is your repayment period after the course duration and grace period end.

Course Duration (in months)

Time while you are studying; EMI does not start during this period.

Rate of Interest 11.0% p.a.
5% 20%
Grace Period 6 months
0 months 24 months

Additional time after your course ends before EMI repayment starts. (Used for display only in this tool.)

Estimated Monthly EMI
₹0
Tenure: 0 years Total Interest: ₹0 Total Payment: ₹0
Principal ₹0
Total Interest ₹0
Total Amount Payable ₹0
Year-wise Principal vs Interest
Includes EMI paid per year (line)
Year-wise Amortization Summary
Expand a year to view month-wise breakup of principal, interest and balance.
Year / MonthPrincipal (A)Interest (B)Total Payment (A + B)BalanceLoan Paid To Date

Calculations are for illustration only and may vary slightly from your bank’s figures.

Getting the best education is the right of every student. But reality sometimes hits hard, as many brilliant students are unable to get admission in a good college due to a lack of funds. Some responsible parents get insurance for their child’s education, while others don’t make good financial decisions, resulting in the loss of potential for their child when he/she is unable to get admission in a good institute.

In this article, I will explain how you can manage funds for your child’s education with an education loan EMI calculator and what is the importance of the student loan EMI calculator. As it is the smartest way to fulfill the needs of your children, who may get demotivated if deprived of proper education.

What is an Education Loan EMI Calculator?

An Education Loan EMI Calculator is an online tool to calculate the EMI (Equated Monthly Installments) for the loan you have taken to cover the expenses of your or your child’s education. The amount you pay each month, including the principal as well as the interest on the loan amount. You input the loan amount with its interest rate and tenure, and EMI calculator pro education loan EMI calculator will give you the result.

This tool is very useful for students who are planning to finance their undergraduate studies and parents who want to check the effect of their children’s education loans on the total budget of their household. You can also check education loan eligibility.

Key Components of EMI Calculation

The formula used to calculate student loan EMI is:

education loan emi calculation formuls

Education Loan EMI=Pr(1+r)^n/(1+r)^n -1

Where:

  • P = Education loan amount
  • r = Monthly interest rate on education loan
  • n = Loan tenure in months

This is the basic principle that is used to calculate almost all kinds of EMIs, even the education loan EMI.

How to Use a Student Loan EMI Calculator

It is much important and easy to use:

  1. Go to the EMI Caulator Pro Homepage.
  2. On the top > Calculator> Education Loan Calculator
  3. Under the Education Loan EMI Calculator, enter the required values using the slider
  4. Adjust the slider to your loan amount; similarly, adjust it for tenure and interest rate.
  5. The Education Loan EMI Calculator will give the result with real-time changes and also a pie chart representing the proportion of interest to the total amount.
education loan emi calculator

Sample EMI Calculation Table

Loan Amount (₹)Interest Rate (%)Tenure (Years)Monthly EMI (₹)Total Interest (₹)Total Repayment (₹)
10,00,00010%717,7484,90,83214,90,832
20,00,00011%1027,52813,03,36033,03,360
15,00,0009%531,1583,69,48018,69,480

Values are approximate. Use the calculate student loan EMI tools for precise figures.

Benefits of Using an Education EMI Calculator

Using our Education Loan EMI Calculator provides you with several benefits:

  • Monetary transparency: It gives you the awareness of the real EMI on your school loan before you apply.
  • Comparison Tool: EMI Calculator AI also lets you compare the offers of various banks.
  • Flexibility: Increase or decrease the duration of your loan to pay less EMI or interest on the loan.
  • Planning Help: Incorporate the budget of the EMI loan to students alongside other expenses.

If you are looking for an abroad education loan EMI calculator, EMI Calculator AI can still help you if you add data considering the foreign fluctuations, such as exchange rates, currency, and their policies.

Also Check: Home Loan EMI Calculator

Also Check: General EMI Calculator

Also Check: SBI Home Loan Calculator

Factors Affecting EMI for Student Loan

Your school loan EMI is influenced by a number of things:

  • Loan Amount: The larger the principal amount, the larger will be the EMIs.
  • Interest Rate: A one percent change in the cost changes the whole cost.
  • Tenure: The longer the tenure, the lower the monthly EMI but the higher the interest rate.

Tips to Manage EMI Loan for Students

  • Select Partial Prepayments: Reduce the principal in order to reduce future EMIs.
  • Pick Step-Up EMIs: You should start with a small amount and increase it over time due to an increase in your income.
  • Refinance: Switch lenders in order to achieve better rates.
  • Use Subsidies: Government plans can lower the effective interest on education loans.

By carefully managing the EMIs and regulating your budget using the Education Loan EMI, you can avoid the frustration of your overburdening finances and can also manage to secure some savings. 

FAQs

What is an EMI Calculator of Education Loans?

It is an online calculator that calculates your monthly EMI of the education loan based on the loan amount, interest rate, and the term of the loan. The student loan EMI calculator is used to view payback plans easily, which does not require manual calculation.

What is the EMI calculator for the student loan?

You can add the value, interest rate, and duration of the loan, and it will calculate the EMI of the student loan and the total interest. The calculated student loan EMI feature is displayed with new results immediately after changing the inputs.

Can we use the EMI calculator in the course of studying abroad?

Yes, it includes larger amounts and rates which are common to international schooling. The EMI calculator for abroad education loans assists the students studying in foreign countries to make correct plans in regards to EMI loans.

How does the amount of my education loan EMI vary?

The Education EMI calculator doesn’t give the final output; it depends on the amount of the loan, interest rate, and loan term. Observe the impacts of small changes on calculating the EMI education loan.

Is it possible to use the study loan EMI calculator without the need to pay?

The majority of bank websites have provided the research loan EMI calculator at no cost without any form of user authentication. It provides quick information regarding school loan EMI to facilitate the borrowing process. Also, we offer a free EMI calculator to assist you.

Conclusion

A loan EMI calculator for an education loan assists students and their parents in borrowing money in an intelligent manner. The student loan EMI calculator and the abroad education loan EMI calculator ensure that all is understandable, be it the courses in the country or the international programs. Simulate a lot with the calculate student loan EMI tool before making a final decision on any EMI loan he/she aim to take. This initiative will ease the cost of attending school and make it more of a strategy to achieve success. It is high time to get your student loan EMI figured out!