Benefits of using education loan calculator?

1
Benefits of using education loan calculator?
2

• With the rise in the number of students pursuing
  higher education, there has also been a rise in
  the number of students who are applying for study
  loans to help them cover the tuition fees. The
  many banks and NBFCs also make sure to provide
  financial assistance to those who need it. While
  these education loans are quite helpful, there is
  a fair share of students who get confused about
  their loan amount and interest rate during their
  repayment period. And so, lenders always suggest
  that applicants use the education loan calculator
  to understand their loan structure before they
  apply for the loan. Some benefits of using an
  education loan calculator are

3

• You dont have to spend manual labour
• When you are trying to understand your education
  loan, there are three different loan calculators
  that you can use the loan eligibility
  calculator, EMI calculator and, loan repayment
  calculator. The loan eligibility calculator will
  help you find out how much loan you are eligible
  to apply for. The EMI calculator helps you
  understand the estimated instalments that you pay
  during the loan tenure. And the repayment
  calculator helps when and if you plan on paying
  early instalments. With the three calculators,
  you will not have to spend too long calculating
  with the different formulae.
• You can try variations before you apply
• When you are calculating your loan, you need to
  try out different variations. In an EMI
  calculator, you have to input information like
  your loan amount, tenure and interest rate. To
  find the loan that fits you, you have to try out
  different variations of your loan amount and
  tenure. This will help you structure the loan
  better. The service of the online education loan
  calculator is free so there is no cap on how many
  times you can use the calculators. This way you
  get precise calculations quickly.

4

• Personalise your loan
• When it comes to educational loans, both banks
  and NBFCs are lenient and also flexible depending
  on the needs of the student. Which means you can
  have more than just your tuition fees covered
  under your loan. When you have the preference of
  trying out the different variations, you can then
  take enough time deciding and planning how much
  loan you apply for and for how long the tenure
  will last. With the multiple tries, you have a
  better perspective. If you find it tough to make
  a decision, you can mark your different options
  to then consult your lender.
• Easier to keep track of your repayment
• Multiple online education loan calculators will
  give you a precise amortization chart that will
  make it better for you to keep track of your
  instalments. Multiple online sites can help you
  with this. But make sure that whichever site you
  use, it is from a trusted source. If you want to
  make sure, you can stick to using the education
  loan calculator that is available on the site of
  your lender.
• Seeing the service is free, do not shy away from
  making the most of it, especially, when it is you
  who will be benefitting the most.

5

• We hope this article was helpful to you.

6

• You can find more interesting things on these
  sites mentioned below -
• Website
• https//www.auxilo.com/education-loan/studying-i
  n-india-loan
• Facebook
• https//www.facebook.com/AuxiloFinserve/
• Twitter
• https//twitter.com/AuxiloFinserve
• Youtube https//www.youtube.com/channel/UClc_BE
  IN262Fm5eY_8sPA5w?view_assubscriber
• Instagram
• https//www.instagram.com/auxilofinserve/