Thursday, May 29, 2014

Judicious Comparison of Education Loan Rates Can Save a Lot of Money

There are several procedures for education loan and you may need a guarantor for your loan, with some of the money lenders. Without comparing Education Loan Rates, you may not be in the situation to apply with the most profitable education loan providing bank. You have to browse different banks to learn the rate of interest and if you are satisfied with your loan interest, you can avail education loan.

Repayment holiday duration is also an important factor and if you go through the details of the terms and conditions of your education loan provider, you can understand about your repayment time. At the same time, for availing loan, it is necessary to gain knowledge about Education Loan Rates. Some banks may allow you only six months time, after you higher education and some other banks may offer one year holiday after your master degree course.


Summary: You can earn your master degree with your education loan and it is better that you compare Education Loan Rates, when you want your education loan.

Thursday, May 1, 2014

Education Loan Calculator Bring to the Fore Great Help

Certain banks ask for the interest amount to be paid while you study whereas some banks offer that relaxation and grant the loan seekers a minimum period of six months after the completion of the course, to pay the loan amount with principal along with the interest. All nationalized banks offer education loans to the deserving students to pursue higher studies in their area of interest.
EMI is the sum which a loan applicant pays to the bank monthly towards the amount of education loan availed. As the interest repayment is saved for later stage, the EMIs get reduced. These reduced EMIs lessen the burden to a great extent. Use an Education loan calculator before seeking an educational loan, to calculate its EMI. An education loan calculator calculates the equated monthly installments.


Summary: Every bank has different set of rules and regulations to approve an educational loan and so they maintain their own education loan calculator.