student loan :-
If you don't have the money to pay for college, a student loan will enable you to borrow money and pay it back at a later date, with interest. A loan is different from a grant or a scholarship. If you receive a grant or a scholarship you're not borrowing that money.



How much education loan can I get?
The maximum limit for an educational loan varies with each bank and financial institution; however, the loan amount is usually capped at Rs. 10 lakh for studies within India, and at Rs. 20 lakh for studying abroad.



Do student loans carry interest :-
Since student loans accrue interest, you end up paying more money than the amount you initially borrowed. That's why it's crucial to shop around to find your best student loan interest rates before you borrow. We'll help you get started with some key information about how student loan interest works



How much is the EMI for student loans :-
So, if you take an education loan of Rs 10 lakh with an average interest rate of 12%, for 2 years the EMI will be: P = 10 lakh, R = 12/100/12 (You convert to months), N = 2 years or 24 months EMI = [10,00,000 x 12/100/12 x (1+12/100/12)^24] / [(1+12/100/12)^24-1] EMI = Rs 47,073.





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