Note: The education loan information on this page is provided only for the information of the website users, DBS Bank doesn’t offer this product at the moment.
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.
Benefits of 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!
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)
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.
An education loan EMI calculator is a tool that helps borrowers estimate the monthly installments (EMI) required to repay their education loan. By inputting specific details such as loan amount, interest rate, and loan tenure, users can quickly determine their monthly financial commitment. This calculator is essential for planning and managing loan repayment efficiently.
The education loan EMI calculator is a powerful financial planning tool that helps borrowers in several ways:
Using an education loan EMI calculator is a simple and effortless process:
There are several benefits associated with utilizing an Education Loan EMI Calculator:
Quick and Easy: It provides immediate results, saving time and effort compared to manual calculations.
Accurate Estimates: Ensures that calculations are precise, minimizing the risk of miscalculation.
User-Friendly: Most calculators are designed for ease of use, requiring minimal technical knowledge.
Informed Decision-Making: Helps in making informed decisions about selecting the right loan product and repayment plan.
Financial Confidence: Knowing the financial commitment in advance helps borrowers approach loans with greater confidence.
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.
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.
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.
An education loan interest rate calculator and an EMI calculator are different tools, even though they are related. An EMI calculator shows you how much you need to pay each month to repay a loan, based on the loan amount, interest rate, and loan period. On the other hand, an interest rate calculator helps you find out the interest rate on a loan if you know the monthly payment, loan amount, and loan period.
If you wish to manually calculate the EMI without a calculator, you can use the following formula:
An Education Loan EMI Calculator uses the loan details you provide—like the loan amount, interest rate, and loan period—to calculate your monthly payments. It quickly computes the EMI using a formula, giving you an exact breakdown of your monthly payments and the total interest you'll pay over the loan period.
An Education Loan EMI Calculator aids in comparing loan offers by allowing you to input different interest rates, loan amounts, and tenures for various loan options. By instantly generating the EMI for each scenario, it becomes easier to see which loan offers the most manageable monthly repayment, lowest total interest, or quickest payoff. This approach helps you to assess the financial impact of different loan terms and select the most advantageous loan plan based on your financial situation and goals.