Axis Education Loan EMI Calculator

Axis Bank Education Loan EMI Calculator

The Axis Bank Education Loan EMI Calculator helps students and parents estimate the monthly repayments for their education loan. With this user-friendly tool, you can plan your finances better before availing a loan for higher studies in India or abroad.

What is an Education Loan EMI?

EMI stands for Equated Monthly Installment, a fixed amount paid monthly that includes both the principal and the interest. The EMI ensures complete repayment of the loan over a fixed period.

Formula for EMI Calculation

EMI = [P × R × (1 + R)^N] / [(1 + R)^N – 1]

P = Loan Amount
R = Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100)
N = Loan Tenure in Months

How to Use the Axis Bank Education Loan EMI Calculator

Visit the official Axis Bank Education Loan EMI Calculator.
Enter your desired loan amount.
Select the tenure for repayment (in months or years).
Enter the interest rate applicable.
Click “Calculate” to view your monthly EMI, total interest, and total payment.

Benefits of Using Axis Bank EMI Calculator

Quick EMI estimation within seconds
No login or registration required
Helps in effective financial planning
Adjust loan variables easily to compare scenarios

Axis Bank Education Loan Highlights

Loan Amount: Up to ₹75 lakhs for select courses and institutions
Interest Rate: Starting from approx. 13.70% p.a. (subject to change)
Repayment Tenure: Up to 15 years
Moratorium Period: Course period + 1 year or 6 months after job, whichever is earlier
Loan Coverage: Tuition fees, exam fees, books, accommodation, and other expenses

Example EMI Calculation

Suppose you take a loan of ₹10,00,000 at 13.70% p.a. for 10 years. Your estimated EMI would be around ₹15,050. Total repayment over the tenure would be approx. ₹18,06,000, including interest.

FAQs

Q: Does Axis Bank offer unsecured education loans?

Yes, for eligible courses and institutions, Axis Bank may offer education loans without collateral.

Q: Can I prepay the Axis education loan?

Yes, Axis Bank allows part-prepayment or full prepayment. Please check for any applicable charges.

Q: Are there tax benefits on education loan interest?

Yes, under Section 80E of the Income Tax Act, you can claim a tax deduction on the interest paid.

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