An education loan EMI calculator is a tool designed to help you calculate the monthly payments (EMI) you’ll need to make on your education loan. By entering the loan amount, interest rate, and repayment tenure, the calculator gives you a clear picture of how much you’ll need to pay each month.
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About Education Loan EMI Calculator
Calculating your education loan repayments shouldn't be a math problem! With the Education Loan EMI Calculator, we make it easy for you to plan your future finances, so you can focus on achieving your academic and career goals.
Benefits of Education Loan EMI Calculator
Plan Ahead
Quick Results
Instant Breakdown
Peace of mind
Features of Education Loans
Credit Up to Rs. 5 Lakhs
Avail of credit up to Rs. 5 lakhs with paperless KYC.
Flexible Repayment
Choose repayment periods from 3 to 60 months.
Instant Approval
Money transferred to your bank account in 5 minutes.
Zero Paperwork
100% Digital - Hassle-free process
No Collateral Required
Secure a loan without pledging any assets.
Transparent Terms
Know all costs upfront with no hidden charges.
Competitive Rates
APR ranges from 32% to 57% per annum.
Multi-Purpose Loans
Use your loan for personal or business purposes
Check Your Eligibility
Instant Personal Loan Eligibility Criteria
To qualify for a personal loan applicants need to meet the following criteria:
- Nationality: Indian citizen.
- Age: Between 23 and 55 years.
- Documentation: Selfie, PAN Card, and Aadhaar Card.
- Income Proof: Required only for select high-value loans based on credit profile.
- Profile : Salaried, Self-Employed, Small busines owner & MSMEs
Having these documents prepared ensures a smoother and quicker application process
Follow these simple steps to get started:
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Verify Mobile Number
Enter your number on the RING app/website, receive an OTP, and verify.
Education Loan EMI Calculator
Breaking Down the Cost: Interest Rates Explained
A tool designed to help you understand the monthly payment on your loan. Whenever you take a loan, the EMI amount that you will pay is very important in helping you arrive at your final loan amount and repayment tenure. Our personal loan calculator helps you do just that. You will be able to see your monthly payment, and this will help you decide what your loan amount should ideally be, and if it is payable over a period.
Principal Amount (A): ₹500,000
Interest Amount (B):
Your EMI: ₹ per month
Your Loan Amount: ₹500,000
At Interest Rate of: 2%
For : 2 years
Total Payable: ₹
Here’s a quick example to illustrate:
- Loan Amount (Principal): ₹1,00,000
- Tenure: 12 months
- Interest Rate: 13% per annum
- Processing Fee (incl. GST): ₹3000 (3%)
- Total Interest: ₹7,180.73
- EMI: ₹1,374.63
- APR: Start from 14%
Disclaimer - The Loan EMI Calculator only shows an estimate. Consult your lender for accurate details.
The Formula to Calculate EMI on Education Loan
The formula for calculating EMI is as follows:
EMI = [P x R x (1+R) ^N]/ [(1+R) ^ (N-1)]
P= Principal loan amount | R= Monthly interest rate (annual interest rate divided by 12) | N= Loan tenure in months
**To explain it further, let’s see an example:**
Suppose you take a loan for ₹5,00,000 with an annual interest rate (IR) of 10% for a tenure of, say, 5 years (60 months).
First, convert the annual interest rate to a monthly interest rate. In this case, the monthly interest rate would be 10%/12 = 0.00833.
Using the formula, you can calculate the EMI as follows:
EMI = [500000 x 0.00833 x (1+0.00833)^60] / [(1+0.00833)^60-1]
By simplifying the equation, you will find that the EMI for this loan would be approximately ₹10,609.
This means that your monthly payment will be ₹10,609 for 60 months to repay the loan amount along with the interest.
For a more detailed explanation, you can refer to this blog.
Hear from Our Happy Customers
Rajesh Sharma
Pune
When I decided to pursue my Master’s in Computer Science, I knew funding would be a challenge. Thankfully, Ring made it all so easy! I used the education loan EMI calculator to estimate my monthly payments, and everything was transparent. The app is so easy to use—I got my loan approved within minutes, and now I can focus on my studies instead of worrying about money.
Neha Verma
Delhi
Getting into a top fashion design institute was a dream come true, but the tuition fees were huge. Ring’s education loan came to the rescue! What I loved the most was the student loan EMI calculator—it helped me map out my repayments, and I knew exactly what to expect each month. Now I can chase my passion for design without stressing about finances!
Karthik Iyer
Bengaluru
I got accepted into my dream MBA program, but the financial strain of international fees was a big worry. Ring was recommended to me by a friend, and it was the best decision I made. Using their education loan EMI calculator, I planned out my payments in advance. I was able to get a loan with flexible repayment options, and now I’m chasing my MBA dreams with confidence!
Pooja Gupta
Jaipur
I had just received an offer to study in the UK when the financial reality of international studies hit me hard. Ring's education loan gave me the support I needed. Their education loan EMI calculator helped me understand what I’d need to pay every month, so I could balance my studies and finances. The best part? It was all done online, hassle-free!
Abhishek Das
Kolkata
Doing a PhD was my life’s goal, but funding such a long-term commitment was daunting. Ring’s loan not only covered all my expenses but gave me the peace of mind I needed. Their education loan EMI calculator was incredibly useful—I could adjust the tenure and repayment amount until I found something that worked for me. Thanks to Ring, I’m now fully focused on my research!
Meera Joshi
Mumbai
I got into a prestigious engineering college, but I was worried about paying for my education. Ring offered the perfect solution with their education loan. The education loan EMI calculator was a lifesaver—I knew exactly what I’d need to pay each month. No surprises, no hidden fees—just clear, honest service. I highly recommend Ring to all students looking for financial help!
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Got Questions? Let's get to them.
What is an Education Loan EMI Calculator?
How do I use the Education Loan EMI Calculator?
It’s super simple! Just enter the amount you need to borrow, select the interest rate, and choose the repayment tenure. Hit “Calculate,” and the tool will show you your exact monthly EMI. You can tweak the inputs to find the perfect repayment plan for your needs!
Is there any difference between an Education Loan EMI Calculator and a Student Loan EMI Calculator?
Not really! Both calculators serve the same purpose—helping you estimate monthly repayments for your loan. The terms can be used interchangeably, though student loan EMI calculator might refer more to loans taken specifically for higher education, whereas education loan EMI calculator can include a broader range of loans for courses and skill development programs.
Can I customise the repayment tenure with the calculator?
Absolutely! One of the best features of the education loan EMI calculator is that it lets you choose your repayment tenure. Whether you want to repay your loan in 12 months or 36 months, you can adjust the tenure to see how it affects your monthly payments.
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