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.
1 comment:
I am glad to find your impressive way of writing the post.Thanks for sharing the post.i'm sharing your information to all friends.If you
Want more details kindly Visit Cash on Credit card
Post a Comment