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Education Loan EMI Calculator by Deferred Payment
EMI
Deferred Payment
Reducing Balance
Interest First
Loan Amount
Loan Tenure
Year
Month
Rate of Interest
%
Deferred Period
Year
Month
Copy
Share
EMI
2413
Interest
44805
Principal
100000
Total
144805
44 K
6
Year
100,000
35 K
Year
Original
Reduced
𝒊
2413
will be
EMI
for
100000
(100 K)
Loan Amount
for
6
Year
Loan Tenure
at
11.00%
Rate of Interest
.
How to Reduce Interest/ Tenure?
Pay
0
1
2
3
4
5
Extra EMI every year.
𝒊
Increase EMI by
0
2
3
5
7
10
15
20
% every year.
𝒊
Pay Lump-Sum
0
(1 K)
(2 K)
(3 K)
(4 K)
(5 K)
(6 K)
(7 K)
(8 K)
(9 K)
(10 K)
in
0
2
3
year.
𝒊
Recalculate
Share
Loan
Tenure
Interest
Original
6 year
44805
Reduced
5 year
35938
Saved
1 year
8867
Loan Payment Schedule
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
Original
Reduced
Deferred Period
Balloon Payment
37 K
27 K
18 K
9 K
0
-
-
-
-
-
2024
2027
2029
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Education Loan EMI by Deferred Payment
An Education Loan EMI by Deferred Payment allows borrowers to postpone all payments, including both principal and interest, for a specified period at the start of the loan. This deferral period typically covers the duration of the study or a grace period, giving students time to focus on their education without the immediate burden of loan repayments. After the deferral period ends, regular EMIs commence. This deferred payment structure is ideal for students who do not have a stable income while studying but anticipate earning sufficient income post-graduation to manage the loan repayments effectively. Calculate your education loan EMI effortlessly with our Education Loan EMI Calculator by Deferred Payment. Get precise details of your monthly payments, interest, and principal, so you can focus on your studies with peace of mind.
Calculate Education Loan EMI by Deferred Payment
Enter loan details like loan amount, interest rate, tenure, and deferred period to calculate education loan EMI by deferred payment.
Click Calculate to view your initial breakdown and calculate education loan EMI by deferred payment based on your inputs.
Customize payment options with three inputs to optimize your education loan EMI by deferred payment.
Select extra EMIs per year to reduce your education loan EMI tenure.
Increase EMIs by a percentage to manage your education loan EMI effectively.
Select a lump sum payment in a specific year to lower your education loan EMI interest.
Adjust inputs as needed and click Recalculate to dynamically update your tenure and interest for your education loan EMI.
Deferred Payment EMI formula
To calculate Education Loan EMI, use the Deferred Payment EMI formula for precise results. This calculation helps you understand your repayment obligations clearly.
E
M
I
=
R
P
×
r
×
(
1
+
r
)
n
(
1
+
r
)
n
-
1
EMI
= Equated Monthly Installments
RP
= remaining loan amount after adding deferred interest.
r
= monthly interest rate.
n
= total number of monthly installments.
Eligibility Criteria for Education Loan EMI by Deferred Payment
Applicant's Age:
The student must typically be between 18 and 35 years old to qualify for an education loan EMI.
Academic Record:
A strong academic background is often required, with proof of admission to a recognized institution for the education loan EMI by deferred payment.
Co-applicant:
A co-applicant, usually a parent or guardian, with a stable income source is required to support the loan application for education loan EMI.
Repayment Capability:
The co-applicant's income and financial stability are assessed to ensure the ability to repay the education loan EMI.
Education Loan EMI Calculator by Deferred Payment FAQ
How does Deferred Payment EMI differ from a regular EMI?
Deferred payment EMI allows borrowers to postpone all payments for a specified period at the start of the loan. In a regular EMI, payments start immediately with both principal and interest being repaid from the beginning of the loan term.
What are the advantages of an Education Loan EMI by Deferred Payment?
Education loan EMI by deferred payment offers flexibility to manage cash flow during studies, allowing allocation of resources to education without immediate repayments. It helps borrowers pursue higher education or training without worrying about initial loan payments.
What are the disadvantages of an Education Loan EMI by Deferred Payment?
Education loan EMI by deferred payment provides short-term relief, but deferred interest accumulates and adds to the principal, leading to higher overall costs. Economic or market changes could impact borrowers' ability to repay once the deferment period ends, especially if financial situations shift unexpectedly.
×
How extra EMI(s) help?
At the end of the year, you can pay extra EMIs out of your savings. This extra EMI payment will go towards your Loan Amount and save you on the interest as well as tenure of the loan.
Payment
Tenure
Interest
Current
6 year
44805
1 Extra EMI/ year
6 year
▶ 0 year
40998
▶ 3807
2 Extra EMI/ year
6 year
▶ 0 year
37758
▶ 7047
3 Extra EMI/ year
5 year
▶ 1 year
35524
▶ 9281
How increasing EMI helps?
As your income increases each year, you can get your EMI increased from the bank. This allows you to allocate more funds towards paying off the loan amount and save you on the interest as well as tenure of the loan.
Payment
Tenure
Interest
Current
6 year
44805
Increase EMI by 1%
6 year
▶ 0 year
44102
▶ 703
Increase EMI by 3%
6 year
▶ 0 year
42790
▶ 2015
Increase EMI by 5%
6 year
▶ 0 year
41588
▶ 3217
How Paying Lumpsum Amount helps?
If you receive unexpected income, such as a bonus or tax refund, consider making a lump-sum payment on your loan. This can help reduce the outstanding loan amount and save you on the interest as well as tenure of the loan.
Payment
Tenure
Interest
Current
6 year
44805
Pay 10% in 2nd year
6 year
▶ 0 year
38581
▶ 6224
Pay 20% in 3rd year
6 year
▶ 0 year
36443
▶ 8362
Pay 30% in 4th year
5 year
▶ 1 year
37158
▶ 7647
How to Reduce Interest/ Tenure?
Making early payments towards Principal amount can reduce your Interest and/ or Tenure.
1. How extra EMI(s) help?
At the end of the year, you can pay extra EMIs out of your savings. This extra EMI payment will go towards your Loan Amount and save you on the interest as well as tenure of the loan.
2. How increasing EMI helps?
As your income increases each year, you can get your EMI increased from the bank. This allows you to allocate more funds towards paying off the loan amount and save you on the interest as well as tenure of the loan.
3. How Paying Lumpsum Amount helps?
If you receive unexpected income, such as a bonus or tax refund, consider making a lump-sum payment on your loan. This can help reduce the outstanding loan amount and save you on the interest as well as tenure of the loan.
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