What is Education Loan? In today’s world, it is important to receive a quality education to embark on a successful career. Sometimes, in developing countries like India, it becomes imperative to educate your children in reputed and premier academic institutions to get a good head-start for a well-paying job. However, these prestigious schools and colleges are pricey and often difficult to get into. This has led to several parents seeking Education Loan in India, more so than ever.
Education Loan V/S Personal Loan Why is it better to choose Education Loan over personal loan? Several people are of the opinion that a personal loan is more beneficial than an Education Loan. But it’s not true; personal loans come at higher rates of interest and one ends up paying more eventually. On the other hand, Education Loans have whole lot of advantages.
Benefits of Education Loan • Affordable Loan of High Value - Get a Loan Against Property for Higher Education of high value up to Rs. 1 Crore if you are a salaried individual. • Hassle-Free Disbursal of Loan - Get this Student Loan in India with a hassle-free disbursal procedure. • Long and Flexible Tenure of Repayment - Repay the Education Loan in India by choosing a tenure as per your convenience. • Minimal Documentation - Processing of this Loan Against Property is hassle-free now with doorstep document collection facility. • Easy and Quick Balance Transfer facility - Get a high-value top-up loan with minimum documentation.
What is Education Loan Calculator? It is an online tool that calculates the loan amount you have to pay. More prominently known as Loan against Property EMI calculator, it also computes the instalments you need to pay every month. The EMIs vary as per your chosen tenure to repay this loan. Along with that, it also works as an Education loan calculator, thus, calculating the total interest payable over its tenure. Additionally, various education loan schemes are available, it also calculates the total payment to make by the tenure end. Total payment is the sum of principal amount and interest payable.