Repayment type | Moratorium | PSI | SI | Direct EMI |
EMI during moratorium period | ₹ 0 | ₹ 0 | ₹ 0 | NA |
EMI post moratorium period | ₹ 0 | ₹ 0 | ₹ 0 | ₹ 0 |
Year | Principal outstanding | EMI paid (A+B) | Principal paid (A) | Interest paid (B) |
₹25,00,000
₹20,52,531
₹45,52,531
₹ 0
₹ 0
₹25,00,000
₹20,52,531
₹45,52,531
₹ 0
₹ 0
Repayment type | Moratorium | PSI | SI | Direct EMI |
EMI during moratorium period | ₹ 0 | ₹ 0 | ₹ 0 | NA |
EMI post moratorium period | ₹ 0 | ₹ 0 | ₹ 0 | ₹ 0 |
Year | Principal outstanding | EMI paid (A+B) | Principal paid (A) | Interest paid (B) |
This is an online tool that helps you calculate Equated Monthly Instalments a.k.a EMIs of your education loan. It is an easy to use tool that is user friendly and less time consuming.
You can either use an education loan calculator where you can manually enter the amount or calculate it using a mathematical formula EMI amount = [P x R x (1+R)^N]/[(1+R)^N-1] where P, R, and N are the variables. It also implies that the EMI value will change if you change any of the three variables. ‘P’ is the Principal Amount. ‘R’ is the Rate of Interest offered by the bank and N is the number of years in which you have to repay the loan.
Repayment methods are of generally 4 types:
Advantages of an Education Loan EMI Calculator:
EMI Calculator is used in the following ways:
No, the education loan EMI calculator will provide you the information about how much EMI you have to pay for each month along with the interest rate while the education loan interest calculator provides you the information about how much interest you will have to pay on your loan amount.
Yes, an EMI loan calculator allows you to compare the amount depending on the different interest rate offered by various banks.
An EMI calculator provides you the information about the EMI on a particular amount of loan, loan tenure and interest rate. A moratorium calculator returns an increase in EMI, interest rate or tenure on a particular loan amount balance. Loan moratorium does not mean that loan payments must stop for a certain amount of time. If the lender takes the benefit of the moratorium, the bank will increase the EMI, interest rate, or term once the moratorium period has ended in order to make up for the money that was not paid during that time.