Calculate your Education Loan EMIs
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How Does Our EMI Calculator Works?
What is an Education Loan EMI Calculator?
The purpose of an education loan EMI calculator is to assist borrowers in estimating the amount of monthly installments (EMIs) they will be required to pay back their school loan. The calculator lets the user rapidly get an estimate of their monthly payment by asking for information such the loan amount, interest rate, and repayment period. Knowing the financial commitment associated with loan repayment helps students and their families plan and manage their money more effectively.
What is Lorien Finance's Education Loan EMI Calculator?
Lorien Finance's education loan EMI calculator is an online tool designed to help students calculate education loan EMI easily. It not only helps in determining the monthly payment amount after taking an education loan but also provides an amortization schedule. This schedule breaks down the EMI into the monthly interest paid and the principal repaid. Moreover, it details the amount of the loan you have repaid to date and how much remains outstanding. The amortization schedule also offers insights into the total cost of an education loan, assisting in calculating the total interest amount to be paid over the loan's tenure.
Offering an unparalleled level of customization, Lorien Finance's education loan EMI Calculator, acting as an advanced education loan calculator, allows you to account for variables such as your grace period, flexible disbursals, and processing fees. It offers various EMI options based on full interest, partial interest, and full EMI. This education loan calculator also enables you to view and download the complete loan repayment schedule. Such detailed planning aids significantly in organizing your finances systematically and efficiently.
Education Loan Payment Calculation
You just need to input the education loan amount (Principal), the interest rate, and the loan tenure (number of months) in the student loan calculator, and it immediately calculates the education loan EMI using the mathematical equation:
where P = Principal, R = Rate of Interest, and n = Tenure/duration in number of months
The same online study loan calculator can be used as an education loan interest calculator to find out the interest payouts. By trying out different variable combinations, you can also arrive at a figure that you are comfortable repaying thus also acting as a student loan repayment calculator.
The education loan interest offered by all the banks and financial institutions are comparatively similar. However, since it is a long-term loan, hence even a slight difference in the interest, will help you to save a substantial amount of money.
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Anam Shams
Study Abroad Expert
Reviewed By: Aman
Several top banks and financial institutions offer different types of education loan calculators to students. However, we found that key features were missing. For example:
The SBI Education Loan EMI calculator
also known as the SBI education loan calculator, computes the repayment schedule by offering two distinct types of calculations. The first type, often referred to as the SBI education loan interest calculator, is based on the interest being paid during the course duration. The second type of computation assumes that the interest is not paid during the study period. This tool is quite flexible, allowing for the consideration of prepayment. However, it does not accommodate partial payments during the study period, nor does it allow customization of the loan disbursement timing—assuming that you'll disburse 100% of the loan at once. In contrast to the Lorien Finance Student Loan EMI Calculator, the SBI Education Loan EMI Calculator does not provide the option to view and download the loan repayment schedule report.
AXIS Bank Education Loan EMI
calculator helps you calculate the monthly EMI of the education loan by taking into account the education loan amount, the interest rate per annum, loan tenure in months, and the processing fees. Besides the EMI, the AXIS bank education loan EMI calculator also checks your education loan eligibility. However, despite these options, the Axis Education Loan EMI calculator lacks on several fronts. Customization options pertaining to the grace period, partial disbursal, repayment schedules are not allowed at all. Apart from these cons, it also does not show the complete payment schedule at one glance.
The BOB Education Loan EMI Calculator
also known as the BOB education loan calculator, calculates the monthly loan payment by requiring inputs like the principal amount, rate of interest, and the loan term. Additionally, it provides a graphical representation of the loan repayment in Rupees over the years, detailing both the total interest and the total amount paid. This tool serves not only as the BOB education loan EMI calculator but also acts as an APR (Annual Percentage Rate) calculator, incorporating functions akin to a Bank of Baroda education loan interest rate calculator. Despite its comprehensive capabilities, like others, this calculator is inflexible with no options for customization. The disbursal schedule is fixed, not allowing adjustments as per the applicant's needs; partial payments are not permitted, and a detailed repayment schedule is also missing.
Avanse Education Loan EMI Calculator
calculates EMI by using the loan amount, loan tenure in months, and the annual rate of interest. The Avanse Education Loan EMI calculator does have a few customization options pertaining to repayment - extra payout, larger EMIs and decreased tenures. Despite these advantages, the tool does not factor in partial payments, grace period and does not offer the facility of seeing the repayment schedule report.
Auxilo Education Loan EMI Calculator
is a swift and simple way to calculate student loan EMI. All you need to do is enter the annual rate of interest in percentage, loan tenure in years, and education loan amount in Rupees into the online Auxilo education loan EMI calculator to calculate your EMI. The Auxilo Education Loan EMI calculator fares slightly better than the other EMI Calculators out there as it does have a few customization options pertaining to repayment - extra payout, larger EMIs and decreased tenures. On the other hand, the tool still lacks in a few departments as it does not factor in partial payments, grace period and does not offer the facility of viewing the repayment schedule report.
Incred Education Loan EMI Calculator
is an easy to use online student loan EMI computation tool. You just need to input your loan amount in Rupees, with interest rate in percentage, and loan tenure in years to compute your EMI. Even though the Incred education loan is very customer-friendly, yet the EMI Calculator is very basic. It completely lacks any customization features and just provides the bare-bones abilities. Partial payments, grace period, flexible disbursal and loan repayment schedule report for planning repayment of education loan are totally missing from the Incred Education Loan EMI Calculator
Lorien Finance's online education loan EMI calculator, a user-friendly education EMI calculator, is quite easy to use, delivers quick results, and accommodates various combinations at no cost. What's more, utilize the several customization options to determine your precise EMI instantly. Plus, gain the added advantage of viewing and downloading the loan repayment schedule report, allowing you to plan your finances for the coming years in a very efficient and methodical manner. It stands out as the most flexible and customizable education loan EMI calculator, and its feature-rich design makes it the most comprehensive EMI Calculator available.
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Education Loan EMI Calculator
Our education loan EMI calculator helps you estimate your monthly payments for your education loan. Enter your loan amount, course duration, loan tenure, and interest rate to get an accurate EMI calculation.
The calculator also shows you the total interest you'll pay and gives you a breakdown of your loan. Adjust parameters like grace period and repayment options to find a plan that works best for you.