Education Loan Interest Rate Calculator India

Education Loan Interest Rate Calculator

Calculate your potential EMI based on interest rates and loan tenure.

Loan Amount (₹) Interest Rate (%) Loan Tenure (Years) Estimated EMI (₹)

function calculateEMI(){ const loanAmount = parseFloat(document.getElementById(“loanAmount”).value); const interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100 / 12; const loanTenure = parseInt(document.getElementById(“loanTenure”).value) * 12; if(isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTenure) || loanAmount <= 0 || interestRate <= 0 || loanTenure el.value = “”); }

This education loan interest rate calculator helps you estimate the EMI for your education loan based on the loan amount, interest rate, and loan tenure.

Example Calculation

For a ₹5,00,000 loan at 8.5% interest for 10 years, the EMI would be ₹6,300.

Why It Matters

Understanding your EMI is essential for planning your finances and ensuring that you can comfortably repay the loan.

Smart Strategy

Opt for a shorter tenure to reduce the total interest paid, or a longer tenure to reduce your monthly EMI.

FAQs

Can I change the loan tenure? Yes, you can adjust the tenure based on your repayment capacity.

Does the EMI include insurance? No, the EMI calculated here only includes the principal and interest.