How to calculate your MBA education loan EMI value?

 

Do you want to earn an MBA degree?

If yes, then study hard in your undergraduate years and clear the MBA entrance exam with flying colours. Along with that, find different ways to fund your MBA education. Many students confirm their seat at B-schools by taking an education loan for MBA studies to pay its fees because pursuing an MBA degree is an expensive affair. To help you estimate your total MBA education costs and help you estimate the EMI values to repay it, we have written this blog.



Let us look at the costs you would want your education loan to cover.

First, you will need money to pay your course tuition fees every year of the course. If your MBA college is not in your hometown then you will have to relocate to a hostel near your college. You will need money to travel to the city where your college is based. You will need money to sustain a good lifestyle in that city for the duration of your MBA course. If you need to relocate to a foreign city for your MBA education then you will perhaps need more funds to live abroad.

You will also need money to pay the course exam fees, the library fees, buy a laptop, and books and stationery expenses, and so on.



The best education loan in India will cover all of these MBA education costs. The best lenders would not even ask you to pay margin money, or in other words, cover MBA education costs partially. They would finance your MBA education costs 100 percent.

Once you complete your MBA education and start earning money, you will have to repay your education loan through EMIs. So, let us look at the educational loan EMI calculator and how to use it to calculate the value of your loan EMI.

This calculator has 3 fields in it. They are:

1.   Education loan amount

In this field, you have to put the total education loan amount you intend to borrow from the lender. It should be in Indian Rupees.

 

2.   Rate of interest

In this field of the educational loan EMI calculator, you have to put the rate of interest the lender has agreed to charge on your education loan. It should be in per cent per annum. In India, the education loan interest rate usually lies between 9 to 14 percent.

 

3.   Repayment tenure

In this field, you have to put the number of years in which you intend to pay off your education loan gradually. The maximum repayment tenure of education loans in India is generally 15 years.

 

When you put valid values in these fields and press the submit button, you will get a speculative EMI value in the result section of the calculator. Talk with the lender directly to know the exact EMI value to pay off your education loan.

 

So, this is how you can calculate the costs of your MBA education and the EMI value of your education loan for MBA studies. Have a nice day!

Comments

  1. Edu_loanOctober 25, 2021 at 2:53 AM

    Educational Loans has really helped students to fulfil their educational goals in life. Also for more such Blog This information is very helpful. Thanks for sharing this information on Education Loan. For Study loan, visit here:
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    ReplyDelete
  2. Priya KadamMarch 4, 2022 at 5:14 AM

    This information is very helpful. Thanks for sharing this information on Education Loan. For Study loan,
    visit here

    ReplyDelete

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