Know More About Education Loan for different countries
Education loans for other countries.png

Education Loans for Other countries

Updated on Nov 15, 2022
10k views

The EMI Calculator is a quick computer tool that allows you to calculate your education loan's Equated Monthly Installments (EMI).

While the traditional and standard calculation technique is tedious, time-consuming, and arbitrary, with online EMI calculators, the activity is completed fast, accurately, and with little input.

The following is the formula for calculating the applicable EMI for an educational loan:

EMI = [P x R x (1 + R) ^ n] / [(1 + R) ^ n - 1]

P stands for the principal loan amount.

R is the applicable interest rate, and N is the number of monthly installments.

An EMI calculator can also provide a detailed amortization chart of your EMI. For this, you might utilize a free online education EMI calculator. Simply fill in the needed loan amount, the current interest rate, and your chosen payback period in the appropriate boxes.

You may either type the numbers into the fields or adjust the values with the slider (depending on the calculator). Once you have entered the correct data, the amortization chart will be promptly detailed, with information about your total principal amount and total interest to be paid.

Why EMI Calculator?

Extremely fast- Calculate your education loan EMIs in seconds for the term and interest rate you choose.

Simple: The computation is easy because four evident and easily retrievable values are presented. That concludes the discussion!

Experiment with various tenures and interest rates to see if you can find a combination that works best for you.

Want to download The Complete Guide to IELTS?

Browse Study Abroad Countries

Study in USA

Study in USA

Study in Canada

Study in Canada

Study in Australia

Study in Australia

Study in UK

Study in UK

Study in Germany

Study in Germany

Study in Ireland

Study in Ireland

Recent Articles

Top 5 government education loan schemes to study abroad!
Top 5 government education loan schemes to study abroad!

Updated on Apr 05 ,2022

Student loan calculator | Calculate loans, interest, EMI, and more!
Student loan calculator | Calculate loans, interest, EMI, and more!

Updated on Mar 28 ,2022

Student loan interest rates | Everything you should know about it
Student loan interest rates | Everything you should know about it

Updated on Mar 22 ,2022

share

  • Icon: Facebook
  • Icon: Twitter
  • Icon: LinkedIn
  • Icon: WhatsApp
  • Icon: Email