Education Loan
EMI Calculator
Know how much to pay by
using our student loan EMI calculator
Education Loan
EMI Calculator
Note: The education loan information on this page is provided only for the information of the website users, digibank by DBS doesn’t offer this product at the moment.
Education Loan EMI Calculator
Know how much to pay by using our student loan EMI calculator.
Nothing should stand in the way of your dreams to study abroad, which is why you should consider education loans. If you are not sure how much money to set aside for your monthly instalments, you can use an online education loan EMI calculator. This tool helps you estimate the EMI to pay based on the tenure you choose. All you need to do is enter information like the amount you need and your preferred loan tenure, and in seconds, you can find out the EMI amount.
How to use an education loan
EMI Calculator
An EMI calculator is straight forward to use. It is based ontwo variables, the principal loan amount and the tenure. The rate of interest field is pre-determined by the bank. Many banks also allow you to toggle the slider between an interest rate range rather than having a fixed interest rate. An online education loan EMI calculator uses the formula given below:
The EMI calculation formula is
[P x R x (1 + R) ^ n] / [(1 + R) ^ n - 1] where
P= principal loan amount,
R= applicable rate of interest
n= number of monthly instalments
Rather than manually calculating EMI, an online student loan EMI calculator does the Math in seconds!
Education Loan EMI Calculator
Here’s an EMI calculator for you to try out. Enter in mock values to familiarise yourself with using an education loan EMI calculator.
(From 1 Lakh to 50 Lakhs)
(Starting at 5%)
(Minimum 12 and Maximum 120 months)
Benefits of education loan
EMI calculator
An online education loan EMI calculator is easy to use and gives instant results. You can adjust the slider or enter the loan amount you require and tenure to get an estimate of the payable EMI. Another benefit of using an online education loan EMI calculator is that it helps you plan finances. You will have a rough idea of how much money to set aside each month for the EMI.
Frequently Asked Questions
What is the principal of an education loan?
The principal is the actual amount disbursed toward your education loan. An EMI calculator can help you figure out how much you will end up paying over and above the principal loan amount after the interest rate is factored in.
Can an EMI calculator help me knowmy EMIs after making a lumpsum payment towards the principal loan amount?
Yes. All you need to do is fill in the outstanding principal and loan tenure. The EMI calculator will calculate your EMI for the remaining period.
Can I calculate the loan processing fee from an online education loan calculator?
No. The online EMI calculator does not factor in the processing fee because your bank will determine it for you. You can only enter your desired loan amount and the tenure of your choice.
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