On Bajaj Markets, you can compute the monthly instalment you are liable to pay with the help of an Education Loan EMI calculator. Simply enter the principal loan amount, interest rate, and tenure of your loan in this easy-to-use digital tool. The calculator instantly calculates the EMI amount and also provides an amortisation schedule which can help you plan your budget and prepayment strategy.
The calculation results are based on the values you enter in the calculator. Your EMI amount (including the actual interest amount charged) will depend on the prevailing rates. The results are neither certified nor guaranteed. The repayment schedule presented is for illustration purposes. Confirm the values with your lender before applying for an education loan.
Education Loan Partners
FAQs
How is the EMI of an education loan calculated?
Education loan EMIs are calculated using the formula: EMI = [P * r * (1 + r)^n] / [(1 + r)^n – 1].
Here:
P is the loan amount
r is the interest rate
n is the tenure
You also can use an online education loan EMI calculator available on Bajaj Markets and compute the instalments faster and more accurately.
How does the student loan EMI calculator help me compare loan offers?
The EMI calculator allows you to input different loan amounts, interest rates, and tenures, providing instant comparisons of EMIs.This can help you review and choose an offer that suits your finances.
What is an education loan amortisation schedule?
An education loan amortisation schedule is a detailed table that outlines each EMI's breakup, showing the principal and interest components. This assists in keeping track of your repayment progress and plan prepayments.
