An education loan calculator is an online financial calculator that
facilitates the user to calculate the equated monthly installments (EMI) for
the education loan availed from a bank of a private lending institution. The
main components required by the education
loan calculator to calculate the monthly repaying amount are the principal
amount of the loan, the rate of interest and the tenure of the loan.
Nowadays there are different
banks and private lending institutions offer education loan to students to
pursue their higher studies in their own country and abroad. This condition
makes the availability of an education loan easier. Before applying for an
education loan, one has to compare the interest rates of different banks and
private lending institutions and calculate the EMI by means of an education loan calculator.
Summary: By comparing the interest rates, it is possible for a
student to get the best education loan with affordable interest rates.
