multiple student loan repayment calculator excel

However, we found that key features were missing.Ĭomputes repayment schedule by providing two types of calculations. Several top banks and financial institutions offer different types of education loan EMI calculators to students. Top Banks that Offer Education Loans in India 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. The education loan interest offered by all the banks and financial institutions are comparatively similar.

By trying out different variable combinations, you can also arrive at a figure that you think you are comfortable repaying. The same online education loan EMI calculator can be used as an education loan interest calculator to find out the interest payouts. You just need to input the education loan amount (Principal), the interest rate, and the loan tenure (number of months) in the education loan EMI calculator and it immediately calculates the education loan EMI using the mathematical equation: EMI = /, where P = Principal, R = Rate of Interest, and n = Tenure/duration in number of months. As an added benefit, you can also view and even download the complete loan repayment schedule, which will help you to plan your finances in a more organized and systematic manner. It also proposes various types of EMI based on full interest, partial interest, and full EMI. The level of customization offered by GyanDhan’s education loan EMI Calculator is unprecedented as it provides you with the opportunity to factor in your grace period, flexible disbursals, processing fees. The amortization schedule also gives you a fair idea about how much an education loan is going to cost you by helping you calculate the total interest amount to be paid over the entire loan tenure. And that’s not all, it also details the amount of loan that you have repaid till date and how much is outstanding. It also gives you an amortization schedule which shows EMI break-up in terms of monthly interest paid and the principal repaid. GyanDhan’s education loan EMI calculator is an online tool that helps students calculate the amount they need to pay monthly after taking an education loan.

Multiple student loan repayment calculator excel