12/16/2023 0 Comments Student loan interest calc![]() ![]() Just enter few things and we will do that for you. To calculate your EMI amount, there’s no need to remember big formulas. Floating rate is generally less compared to fixed rate because it depends on market volatility.Ħ) How to use online Education Loan EMI calculator? There are two types of interest rate applied on loans, i.e., Floating and fixed rate. The interest rate depends on the factors like the reputation college of the student for which he is taking loan, destination, course applied for, the loan amount, loan tenure, etc. There is a fierce competition between the banks and NBFCs who provide education loan in India which impact the interest rates on them. This helps students to secure a job and regular income after studies to repay the loan back.ĥ) How is Education Loan Interest Rate decided? Generally, moratorium period is 1 year after the course term. There is a moratorium period in education loan which gives some extra time after the completion of course to start the repayment. In Education loan the repayment starts after the completion of course for which the loan has been taken. We have the confusion most of the time that we have to start the EMI of education loan as soon as we get the amount disbursed.
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