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What is the Formula to Calculate the Interest Rate for an Education Loan?

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  Education is the pillar of development and progress. Children today have high dreams of studying in the most reputed abroad universities. To study in elite universities, you would need a huge amount of money. Starting from fees to accommodation, everything is expensive. If you are going for some specialized course in one of the most elite organization, you should keep at least some lakhs handy. If you are unable to fund your children’s education, there is absolutely no need to panic. You can go for the most common and popular forms of credit, for education loan apply online . An education loan helps in educating the population and offer knowledge. However, if you are taking an education loan you must know how to use an EMI calculator to get the right rates.   Elements of EMI calculator   Principal amount : The principal amount is the exact amount that you take for your loan. It does not include any hidden charges or interest rates. It is the loan amount that you...