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Benefits of an Educational Loan EMI Calculator An estimated monthly investment, or EMI, is the amount of money that the borrower of a loan has to pay back to the lender with interest as monthly instalments over a certain period of time that is decided by the lender and borrower. Loans have become a part of almost everyone’s life because at some point, almost everyone needs to take out a loan whether it’s a home loan, car loan, or educational loan. Using an Educational loan EMI calculator is the best way to determine your monthly instalments beforehand and balance your monthly budget. An educational loan EMI calculator uses variables such as the tenure, interest rate, and the loan amount to determine the estimated monthly investment (EMI). Using the educational loan EMI calculator is easy and you can find out your EMI within seconds. Most banks and non-banking financial companies (NBFCs) have an Educational loan EMI calculator on their websites. For example, if your loan amount is INR 30 lakhs, the interest rate is 9 percent and the tenure of the loan is 20 years, the estimated monthly investment (EMI) is INR 26,991. There are many benefits of an educational loan EMI calculator such as: 1) Convenient- This tool is incredibly convenient because difficult estimated monthly investment calculations are made easy without having to use a pen and paper. In a matter of seconds, you can find out what your estimated monthly investment is. It can also be accessed from anywhere whether it is your home, your work, the bathroom, a rollercoaster, etc. You do not need to visit the bank and stand in a long time waiting for your turn. 2) Accurate- Doing the calculation with a pen and paper means you can easily make mistakes while you are entering the rate of interest, tenure, loan amount, etc. However, with the educational loan EMI calculator, you can be assured that the calculations are perfectly accurate with absolutely no mistakes. 3) Specific- Though this article is about the educational loan EMI calculator, there are different types of estimated monthly investment calculators that are specific to different loan types such as home loans, car loans, personal loans, etc. 4) Fast calculation- With an online educational loan EMI calculator, you can do the calculation within seconds. In the case of doing the calculation with a pen and paper, it could take you hours to complete the calculation, which is very time-consuming. 5) Graphic representation- Most of the time, an educational loan EMI calculator provides information in a graphical manner and a pictorial representation of each point such as principal outstanding, time remaining, rate of interest, tenure, etc. 6) Helps you budget your finances- When you calculate the EMI ahead of time, you know what you will be paying every month. This helps you plan your monthly budget.


To utilize an educational loan EMI calculator, all you have to do is go on the website of the bank or non-banking financial company, input the loan amount, the tenure, and the interest rate and you get your EMI immediately. We hope this article was helpful.

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Benefits of an Educational Loan EMI Calculator  

An estimated monthly investment, or EMI, is the amount of money that the borrower of a loan has to pay back to the lender with interest as m...

Benefits of an Educational Loan EMI Calculator  

An estimated monthly investment, or EMI, is the amount of money that the borrower of a loan has to pay back to the lender with interest as m...

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