Do you know these 4 benefits of an educational loan calculator?

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Do you know these 4 benefits of an educational
loan calculator?
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• Are you planning to take an educational loan to
  cover the cost of your higher studies?
• If yes, you need to carefully plan how much money
  you need. Also, you may not know how much money
  you will have to pay gradually for repaying your
  loan after you begin working. Lenders understand
  this and so, they offer some services that help
  you quantify the loan you are eligible to take
  and the EMI you would have to pay to repay it.
  These services are formally called educational
  loan calculators. Let us look at this type of
  calculator and its 4 benefits.

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• Educational loan calculator
• Do you want to know how much you how much money
  you have to pay to repay your for your study
  abroad loan?
•  
•  
• A loan EMI calculator will help you. It has 3
  fields in it. They are
•  
• Education loan amount
• You have to put the total amount of money you
  borrowed or want to borrow in this field. That
  value should be in Indian Rupees.
•  
• The annual rate of interest
• You have to put the annual rate of interest the
  lender has charged or will charge on your
  education loan in this field. That value should
  be in percent per annum.
•  
• Repayment tenure
• You have to put the repayment tenure of your
  education loan in this field. That value should
  be in either number of years or months. This
  tenure can extend up to 15 years only.

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Once you put valid information in this field and
press the submit button, you will get an EMI
value in the results section. Note that that
value will be speculative in nature.   Now that
you know what this calculator does, let us tell
you the benefits of using it.
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• Benefits of using an educational loan calculator
•  
• The 4 benefits are
•  
• Simple to use
• This calculator is easy to use. You do not need
  to use paper and pencil to keep track of the
  calculation. All you have to do is enter valid
  values in its fields and you will get the EMI in
  the result section.
•  
• Quick and accurate results
• This calculator gives accurate results quickly.
  If you were to calculate loan EMI mentally, you
  may make errors in calculation. When you use this
  educational loan calculator, you will get
  accurate results swiftly provided you enter valid
  numbers in its 3 fields.
•  
• Freely available
• Lenders provide this calculator on their websites
  for free. They do not expect you to pay money for
  using this calculator. And you can use it as many
  times as you want.
•  
• Helps in strategising your loan repayment plan
• The indirect benefit of this freely available
  calculator is that it helps you to arrive at the
  combination of values that are the most suitable
  for your case. In other words, it helps you to
  strategise your repayment plan such that you
  repay your loan fast.

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• Now you know how to calculate the EMI of your
  educational loan. Please use the loan values your
  lender quotes to you in their loan EMI calculator
  only. Have a nice day!

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We hope this article was helpful to you.