An education loan is a loan that is granted
to the Indian citizens to pursue their higher education in India or abroad
where their admission has been fortified.
EMI or Equated monthly installment is the
amount that one has to repay the bank every month towards their loan. A low EMI
is always good and is in favor of the person who is borrowing the money. These
calculators are useful for those who have borrowed education loans as it
reduces the repayment burden comparatively.
There are lots of education loan calculators available on the internet that helps you
calculate the EMI and also provide you with the monthly EMI schedule. There are
also some education loan calculators
that can adjust it in case you need to make extra payments along with the
scheduled EMIs for reducing the overall burden of the interest.
Summary: Education loan rates are very
competitive and attractive and lead to confusion for students and thus an education loan calculator plays an
important role in identifying the best available rates in the market.
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