Education loan calculator Indiais one of the many tools available on the internet which helps students calculate the interest rate on various loan amounts. It can be easily found on different loan availing websites. With the help of this method, you get a fair idea about all your monthly instalments in the form of EMIs.Along with loan calculation, availing a loan has also become quite easy these days. Education loans can be availed at minimum interest rates up to 12.75% from leading private financial firms. For such low interest rates, usually the borrower is charged with a processing fee of 1-2% depending on case to case basis.
Loan sanctioning conditions
The applicant has to be between 18 to 35 years of ageHeShe has to be an Indian nationalHaving a co-applicant is mandatory (A co-applicant can be parentsguardian, siblings or spouse)Students should apply for courses above HSC(Secondary School Certificate)The co-applicant should have a regular source of incomeConfirmed admission in the chosen universitycollege Other factors that are considered while sanctioning a loan include nike vapormax cheap outlet , good academic score, the credibility of the universityinstitute, etc. Tryopting for universities that have gained recognition. This will add to your chances of getting the loan.
However, Education Loan Interest Rate can be used anytime, applying for a loan should be done well in advance so that the entire loan approval process takes place swiftly and the disbursement also happens before the beginning of your course.
What is a holiday period?
Additional period offered to the borrower uptill one year for securing his or her job apart from the tenure thecourse is termed as holiday period nike vapormax 2019 outlet , moratorium period or grace period. During this time, the student can find and secure a relevant job, after which he or she can soon begin his installments.
Salient features offered by some of the leading finance firms
100% coverage without any margin moneyCompetitive and customized loan structuringschemesLow interest ratesApply onlinePre-visa disbursement and pre-admission loanPersonalized counseling for borrower In case the applicant has any query regarding the loan, heshe can get in touch with the loan servicing officer of the closest branch of the firm. Leading firms offer a personalized counseling session for newbies to educate them about the various loan schemes, interest rates nike vapormax china outlet , different payment modes and payment options etc.
Education loan calculator India can be accessed by millions of students, regardless of whether they avail a loan or not. The accuracy of the tool is most of the times up to the mark, yet it is essential to consult an expert before you avail any kind of a loan. You should start the repayment of the loan within the given time period. On failing to do so, the amount gets recovered from the co-applicant. Delay’s in monthly instalments affect your as well as the co-applicant’s credit score thereby decreasing your chances of obtaining a loan in the future. Thus,it is advisable to calculate beforehand whether or not you will be able to repay the debt including the interest rate
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10.06.2019 08:27
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