How to accurately calculate EMI for education loan? | Ep 03

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LoanFlix season 2 brings you to the deeper insights of the Abroad Education Loans space. If you are planning to start your abroad education loan process, Request a callback www.wemakescholars.com/study-...
Education Loan EMI Calculator :
www.wemakescholars.com/educat...
Our team of Financial officers assist you with the entire education loan process until sanction, disbursement and beyond. All the services offered by WeMakeScholars are free of cost as this initiative is supported by the IT Ministry, Govt. of India
The third episode is “How to accurately calculate EMI for education loan?”, covering the below topics
00:00 - Introduction
02:22 - What are the different factors to consider to accurately calculate EMI?
05:24 - EMI calculator demo
12:39 - How to effectively use this calculator for planning your repayment?
13:42 - Conclusion
Hope this video would be insightful and you could get a general idea about education loans.
Loanflix is the most comprehensive web-series on abroad education loans. The motive is to empower students and their guardians so that they can take an informed decision about the education loan.
You will get a fresh episode of Season 2, on the 2nd and 4th Sunday of every month.
Here is the list of our must watch’s from Season 1 and LoanFlix inshorts:
List of eligible countries: Unsecured Non-Collateral Abroad EducationLoan: • List of eligible count...
Disbursement of Living Expenses in an Abroad EducationLoan: • Disbursement of Living...
EducationLoan Co-Applicant Requirements: Know the Complete List:
• #EducationLoan Co Appl...
EducationLoan For Masters Abroad: • #EducationLoan For #Ma...
Applying for NonCollateral EducationLoan: Step by Step process: • Applying for #NonColla...
Documents for EducationLoan: Know the full list:
• Documents for #Educati...
International StudentLoan: ProdigyFinance student loan & MPowerFinance
• International #Student...
EducationLoan for abroad: PublicBanks vs PrivateBanks NBFCs:
• #EducationLoan for abr...
Other episodes can be found in the LoanFlix playlist @ • Loanflix: The most com...
The topics discussed in the Loanflix web-series covered some of the most crucial topics in the education loan process. So Do watch the entire series if you want to know about this topic end-to-end.
Please subscribe to our channel for more such informative videos. Also, do like and share with your friends. Good luck!
Script editor- Arjun R Krishna
Shot, Edited & Directed by Sreeman Reddy
Designs- Anandu Sreenivas
About the Presenter - Damini Mahajan is a visionary entrepreneur and co-founder of WeMakeScholars.com, an education finance start-up for international education. Damini has been mentioned as "Top Women in Tech" by The Asian Entrepreneur. She has also been awarded as the winner of Silicon Valley Challenge by Action for India 2016 and was in Top 75 start-ups in Power of ideas by Economic Times at IIM Ahmedabad.
Stay connected to know more:
- Like us on Facebook - / wemakescholars
- Follow us on Twitter - / wemakescholars
- Follow and tag us on Instagram - / wemakescholars
- Follow us on Linked in- / wemakescholars-com
- Contact us at hello@wemakescholars.com
#Loanflix #AbroadEducationLoan #EMIcalculator

Опубликовано:

30 июл 2024

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Комментарии : 349

@vikas.gaurav 3 года назад

Thanks a lot, It was like you are replying to my all question. It is intresting to know that all banks charge compound interest on education loan after moratorium period. I was just worried why my interest suddenly increased after moratorium period. Even bank manager did not know this. He told me this after 4 to 5 iterations. Thanks🙏🙏

@vikas.gaurav 3 года назад

Thanks for pinning this comment 😀. You people are doing great job, this kind of information is not easily available on internet.

@WeMakeScholars 3 года назад

Hi, Vikas! Glad that the information was helpful. In case your loan was sanctioned via WeMakeScholars, you can always reach out to us if you face any further issues.

@abhayjoshi7282 2 года назад

for which course you took loan?

@vikas.gaurav 2 года назад

@@abhayjoshi7282 it was for B.Tech

@nandyalanaresh1161 15 дней назад

@@WeMakeScholars Is it possible to take an education loan for only two academic years. Now I am pursuing b-tech and also I completed two years in it.

@gtridev5462 3 года назад

I was doing wrong calculations on emi and that killed my hope to study abroad, but by this video i gained back my hope. Thanks you madam.

@WeMakeScholars 3 года назад

Hi, Tridev! Glad you found the information helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@rohaninitiative6058 Год назад

where are you now?

@sagartalekar2207 2 года назад

Thank you so much ..!!you have cleared all the doubts in one session ...its true no one is telling in depth knowledge about this...Thanks again

@WeMakeScholars 2 года назад

Hi, Sagar! Glad you found the information helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@ArbazKhan-nx8fd 3 года назад

Thank you so much Mam. I am wondering why didn't I came through your channel earlier. You have sorted almost all my queries.

@WeMakeScholars 3 года назад

Hi, Arbaz! Glad you found the information useful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@prajeettracy6487 3 года назад

You guys are doing so much for the students out there💛.... Sadly I have already taken an Ed loan... If I knew earlier I would have definitely consulted with you guys.

@WeMakeScholars 3 года назад

Hi, Prajeet! Thanks for appreciating the content. In case you are not happy with your ROI, you can always consider transferring the loan to another lender. Please watch this video for more details: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-nlQ5wtUH4_g.html You may request a callback for further guidance: bit.ly/education-loan

@roshanff5077 3 года назад

Aap bohot accha kaam kr rhe ho ma'am impossible ko bhi possible kr rhe ho

@WeMakeScholars 3 года назад

Hi, Roshan! Thanks for your words of appreciation. For further guidance on your education loan, you may connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.

@krishnateja1333 2 года назад

This is exactly the clarity I needed. It was so confusing trying to calculate with all those factors! Thanks a lot!

@WeMakeScholars 2 года назад

Hi, Krishna! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@krishnateja1333 2 года назад

@@WeMakeScholars Are you planning on adding the "prepayment" feature as well?

@WeMakeScholars 2 года назад

@@krishnateja1333 Hi Krishna! Thanks for the suggestion. We'll look into it.

@shriharshbankapur9666 3 года назад

Thanks alot really appreciated! This will help to calculate my mba loan! Really informative thanks once again

@WeMakeScholars 3 года назад

Hi, Shriharsh! Thanks for the feedback. Glad you found it helpful.

@davidsarkar6108 3 года назад

That’s an awesome video.Thank you so much for this valuable info.✌️💯😘💯✌️

@WeMakeScholars 3 года назад

Hi, David! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@whenrohandances 2 года назад

Really great video... I desperately needed this... I just realized I understood the basic concept of loan wrong... felt so embarrassing... immediately searched n got this wonderful video... cant thank you guys enough but thanks alooooooooot for this...💝

@WeMakeScholars 2 года назад

Hi, Rohan! That's amazing! Glad you found the information helpful. For further one-on-one guidance, you may connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.

@whenrohandances 2 года назад

@@WeMakeScholars already did

@ankitjainwal4414 3 года назад

very informative video, Addition: We can have one option of prepayment.

@wincywilli9807 3 года назад

Thankyou so much..this just made life of the students a lot easier..❤️

@WeMakeScholars 3 года назад

Hi, Wincy! Thanks a lot for your kind words! Glad we could help. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@AryanRaj-ov6uj 2 года назад

All questions solved after coming to this video..... Thank you so much Dii

@WeMakeScholars 2 года назад

Hi, Aryan! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@Ashutoshkumar-bg4ge 3 года назад

Mam your videos really helps us a lot🙏 Thanks a lot.

@WeMakeScholars 3 года назад

Hi, Ashutosh! Glad you are finding the videos helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@Anujjha01 3 года назад

BEST EXPLAINED.... IT HELPED ME A LOT TO UNDERSTAND........TQQQQ SO MUCH.

@WeMakeScholars 3 года назад

Hi, Anuj! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@radhakrishna.kalluri7192 2 года назад

Thanks for your efforts, good job

@WeMakeScholars 2 года назад

Hi, Radhakrishna! Glad you found it helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@mohammadhussain7570 2 года назад

Thank you very much for the veryyy useful video!

@WeMakeScholars 2 года назад

Hi Mohammad! Glad that you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@roshanff5077 3 года назад

Thank you ma'am ❣ from delhi

@WeMakeScholars 3 года назад

Hi, Roshan! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@preetsoni5138 Месяц назад

Thankyou for the efforts taken, this was the detail that was really needed

@WeMakeScholars 22 дня назад

Hey preet! Glad you liked it.

@athervagajinkar2475 3 года назад

Good initiative by We make scholar team to apprise students about finances for abroad education

@WeMakeScholars 3 года назад

Hi, Atherva! Glad you're finding the videos helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@danishuddin9752 Год назад

You are amazing mam! Thank you very much!

@WeMakeScholars Год назад

Hi Danish! Glad you found the video helpful. For further one-on-one guidance with the loan process, please connect to our loan team by requesting a callback on this link: bit.ly/3KLb0zu Once you fill out the form, they will get back to you to guide you further.

@purnamummani2001 3 года назад

Thanks damini mam it's so helpful ☺.

@WeMakeScholars 3 года назад

Hi, Purna! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@RunalShrivastava 3 года назад

Hey. I'm wondering if you can make a video on RLLR and MCLR based floating interest rates and it's impact on the interest amount calculated throughout the disbursement period and loan repayment period. According to my research both of these rates change quarterly and semi-annually respectively. I track all of my expenses and as I start my education loan, I want to have an excel/sheets dashboard which can calculate the interest till date. I have a sanctioned loan from PNB.

@WeMakeScholars 3 года назад

Hi, Runal! Thanks for the suggestion. We'll work on that.

@prasanna5431 2 года назад

In your EMI Calculator, Banks don't add interest accrued portion during moratorium period, to make it monthly /yearly compound. But, you added accrued interest every year to make it annual compounding. So, EMI amount will be high. But other case, EMI amount is low.

@WeMakeScholars 2 года назад

Hello Dear, even in our EMI calculator, we have not considered interest compounding for Public banks. To check that, you need to select "No payment during moratorium" option for the interest payment question. When you choose the option that you will pay partial or full simple interest during the moratorium, we assume that you are not going to a public bank and only in that case we add interest compounding.

@shraddhanaik2788 Год назад

@@WeMakeScholars please check your calculations r wrong

@rekhachaudhary6076 3 месяца назад

Thanks a lot...

@srivastav24685 3 года назад

Thank you !!

@WeMakeScholars 3 года назад

Hello! Glad you found the content helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@kanikapatel5431 3 года назад

Will you please make a video on methods of repayment of education loan and charges for that? Like one time repayment.... Is this possible???

@WeMakeScholars 3 года назад

Hi, Kanika! Thanks for the suggestion, we'll work on that. Yes, one time repayment is possible. You may watch this video on the repayment process of an education loan: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-B8AhwCjhUNs.html If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@manakumar1309 2 года назад

Useful information. Thanks

@WeMakeScholars 2 года назад

Hi Mana! Glad that you found the video informative. For further one-on-one guidance with the loan process please connect to our loan team by requesting a callback on this link:bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.

@pratikkaushik6979 3 года назад

Litteraly fabulous

@WeMakeScholars 3 года назад

Hi, Pratik! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@aggadisrivani828 22 дня назад

Very useful tqu ji

@WeMakeScholars 22 дня назад

glad you liked it.

@Meliszzaaa 3 года назад

This is amazing

@WeMakeScholars 3 года назад

Hi, Melissa! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@rehanpathan7094 2 года назад

The calculater works great, however in some Canadian collages, semester are for 4 months, and some course offer 16 months study consists of 4 semester... And calculater hasn't that kind of customization..

@WeMakeScholars 2 года назад

Hi Rehan! Thanks for pointing out. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@msbsalu 3 года назад

This is great... I need to talk to one of ur people...

@WeMakeScholars 3 года назад

Hi, Beena! You may connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.

@ankushdubey3372 3 года назад

Thank you ma'am

@WeMakeScholars 3 года назад

Hi, Ankush! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@whenrohandances 2 года назад

Woww this is so helpful...😃😍 Love to Damini😚💓💟

@WeMakeScholars 2 года назад

Hi, Rohan! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@whenrohandances 2 года назад

@@WeMakeScholars Did😁👍

@shreekantprasad8278 3 года назад

Thank you so much❤️❤️❤️❤️❤️❤️

@WeMakeScholars 3 года назад

Hi, Shreekant! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@abhijeetsingh1570 3 года назад

Very informative

@WeMakeScholars 3 года назад

Hi, Abhijeet! Glad you found the video informative. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@experimentislife8290 3 года назад

Ya it is really helpful video

@WeMakeScholars 3 года назад

Hi! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@parthyadav3733 2 года назад

Dear ma'am, at 11:12 you say that during the grace period, the interest is accrued on the 20 lakhs and not on the interest. So the simple interest for 20 lakhs for 6 moinths is 85000. When you add this to the amount at the end of 4th semester which is 2780500, the total comes out to 2865500. This value doesn't match the one in the end of moratorium period in the table in the video. What I think is that after the 4th semester ends the interest is calculated on both the 20 lakhs and the interest till the 4th semester ends. So that the interest in the 6 months grace period is calculated on 2780500 and not on 2000000. When you calculate the interest + principal on 2780500, the value comes out to be 2898671 which matches according to the video. Please clarify this.

@WeMakeScholars 2 года назад

Hi Parth, your calculations are not very clear. Can you please send a working sheet to us by email at hello@wemakescholars.com?

@shraddhanaik2788 Год назад

Yes I feel the same.....either calculation is wrong or compound interest is calculated or their calculator have considered 500000 disbursement in fourth year...and calculated....so pls check and correct it

@shivampatil8101 3 года назад

thank you for detail info

@WeMakeScholars 3 года назад

Hi, Shivam! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@shivampatil8101 3 года назад

@@WeMakeScholars sure

@vikramreddy9408 Год назад

Which is best PEMI (pre monthlt installments ) or paying after monitorium period. In a case of cost efficiency.

@WeMakeScholars Год назад

Hi Vikram! Paying Full simple interest is considered to be a better option because if you don't do so, your interest gets added to your principal amount and could lead to added expenses, We suggest you to talk to our Financial Officer about the same. Please connect to our loan team by requesting a callback on this link:bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.

@mandarhanchate5034 3 года назад

Awesome :)

@WeMakeScholars 3 года назад

Hi, Mandar! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@kirankumarchereddy5146 2 года назад

Hi, Thanks for the useful video. Please can you help us to make a video on Interest subsidy scheme for Education loan in India and Abroad. Thanks.

@WeMakeScholars 2 года назад

Hi! You may go through this video which discusses the same: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-EVDN0RvPF30.html. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@parthyadav3733 2 года назад

Thank you for making this video. It was a huge help for me. Thank you again.

@WeMakeScholars 2 года назад

Hi Parth! Glad you found the videos helpful. For further one-on-one guidance with the loan process, please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.

@aniruddhatyagi7164 3 года назад

Hi, is there any penalty for pre-payment ( paying higher amounts than EMI ) for indian govt banks ?

@WeMakeScholars 3 года назад

Hi, Aniruddha! No, there is no penalty if you pay higher amounts than the EMI in government banks. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@amandeepsingh7022 3 года назад

Hello mam, hope so you reply my question... Q:- I want to apply a loan in govt bank as per you dicussed in video government bank didnot charge a single penny during the moratorium period. If i apply a 10 lakh loan for 5 years overall repayment time...but i clear my all loan immediately completeing my study can bank charges the interest or not ???....Or this option is available in banks...kindly please guide

@WeMakeScholars 3 года назад

Hi, Amandeep! If you take a secured loan from a government bank, you will not have to pay interest during the moratorium period (course duration + 6 months/1 year). The interest accumulates and you have to pay after the moratorium period. Thus, if you repay your entire loan immediately after the course is completed, you would have to repay the principal amount + accumulated interest up to that date. For further guidance, please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.

@mukgrg485 3 года назад

u are fantastic

@vrajmistry960 3 года назад

I have a simple question. If i am charged simple interest then how the amount can be of 27lacs. Simple interest for 20lac will be 1.6lac per year @8% interest rate. If we count two years it will be double of 1.6 which is 320k. Summing up to 23.2 lac. How is that 27lacs ? For the moratorium period only.

@WeMakeScholars 3 года назад

Hi, Vraj! The interest is not charged on the entire 20 lakhs at once. It is charged on the disbursement taken in each semester. In this case, they were 7 lakhs, 7 lakhs, 6 lakhs and 0 respectively. We have taken 8.5% as interest. That is how we arrived at 27,80,500. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@anthonykumar236 2 года назад

Thanku any one understand

@shreyakarade1370 3 года назад

Thank u so much for this information .I want to ask suppose I take education loan from private bank for doing mbbs in Russia of 30 lakhs for 10 years than how much time will given by bank to me for repayment of my loan ? it will be 10 years after completing my course or 4 year's. Pls ans this Q it will be vary helpful to me.

@WeMakeScholars 3 года назад

Hi, Shreya! The repayment period is usually around 10-15 years. For MBBS in Russia, only a secured loan from a nationalized bank is possible. For further guidance, please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.

@ankitjainwal4414 3 года назад

Please tell me after moratorium period, when I start paying my emi and compounding interest is started, then compound interest is applicable on only principal i.e fees(loan amount) or fees+simple interest (which is obtained during moratorium period)?

@WeMakeScholars 3 года назад

Hi, Ankit! If you take the loan from a government bank, the interest during the moratorium period is not compounded. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@ankitjainwal4414 3 года назад

@@WeMakeScholars I request you to please read this question again.

@WeMakeScholars 3 года назад

@@ankitjainwal4414 Compound interest is calculated on principal and accumulated interest. I would suggest you request a callback so the Financial Officer can explain in detail: bit.ly/education-loan

@gamenolame6745 2 года назад

do undergrad students have to pay emi from the month they take loan? is there an option where we can pay after we start earning? ( abroad studies )

@WeMakeScholars 2 года назад

Hi! You will not be required to pay anything during the moratorium period that is basically your course duration plus 6 months but simple interest will be charged. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@jasveerkaurjazz Год назад

awesome calculator

@rakshithgowda6976 2 года назад

Hey ma'am, just a small doubt about pre-closing of the loan, how does it work let's say I have paid EMI for 12 months and want to close the loan, can I just close it by paying balance amount along the pre-closure charges for it or Do we need to clear the remaining interest amount. How does this work, request you to make a video on this, it would really be helpful for the people. Great work though, thanks in advance.

@WeMakeScholars 2 года назад

Hi Rakshith! Yes, You can just close the loan by paying the remaining amount and you will not be charged any pre-closure charges for the same also you are only required to pay the interest amount till the date of the closure. Thanks for the suggestion to make a video on the same and will try to work on the same. In the meantime, if you are seeking any help with your education loan process. Please connect to our loan team by requesting a callback on this link:bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.

@hemanthkumarkalidindi8580 Месяц назад

Everything is good, what about fluctuating interest, lets say suppose upto 1st semister it is 9% and in 2nd semester it goes to 9.5% then how it calculate it ??

@WeMakeScholars Месяц назад

Hi Hemanth, The current EMI calculator is not yet designed in a way to consider such variations. Speak with our team as they can guide you on this matter. Request a callback at bit.ly/48cTdcR. Our team will get in touch with you soon.

@vishnuvaradhan5717 3 года назад

instead of paying 45k can i increase the amount and finish my loan within 2 3 years based on my salary? and also pleaee mention clearly that govt banks require collateral, if not we cant approach them they are 60 lakhs collateral for 35 lakhs loan

@WeMakeScholars 3 года назад

Hi, Vishnu! Yes, you can repay your loan earlier if you are able to. Yes, government banks require collateral for all education loans above 7.5 lakhs. You may watch this video to understand how collateral is valued for an education loan: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-C1vbCwz8cGs.html For further guidance, please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.

@rgopinath4730 3 года назад

What if I'm willing to pay my total amount after a year or more from the moratorium period. Can I pay the total amount before the repayment time.

@WeMakeScholars 3 года назад

Hi, Gopinath! Yes, you can repay your loan earlier if you are able to. Please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.

@abhilove1110 Год назад

Hlo mam, Partial interest will be debited from the next month of the loan disbursement or will be debited from the month starting the course

@WeMakeScholars Год назад

Hi Abhi! Partial simple interest will be charged from the day you disburse your education loan. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@akiilesshsivakumar7386 3 года назад

Hello. I have a doubt. Let my EMI be 50,000 each month for a given principal amount and ROI, and the number of years is say 5. Also, I'm able to pay 50,000 comfortably. If I increase the number of years to 10, the EMI will reduce (but the total interest will be more eventually because of added years). So, with less EMI burden (say now in this case 30000) I can allocate more money to pay off the principal amount. So, this will enable me to focus more on paying the principal amount within my limit along with the reduced EMI in subsequent years. Can I use this strategy to effectively prepay the loan?

@WeMakeScholars 3 года назад

No Akhilesh, this is not correct mathematically. So how EMI works is if you pay 50K EMI, a portion of it goes towards the monthly interest amount on the outstanding principal and rest towards principal. So, let's say if on the outstanding amount your interest comes to around 20K, and you are paying EMI of 50K, the rest 30K will reduce from principal. If you pay only 30K as EMI still 20K will go towards interest and 10K towards principal. You will not be allowed to pay an EMI of less than 20K for the above example. I hope it answers your question.

@akiilesshsivakumar7386 3 года назад

@@WeMakeScholars ohh ok. Thank you!!!

@ruturajrajput4410 2 года назад

I've entered the following data in the emi calculator sheet-24 months,3000000(1200000,1000000700000,100000),10.5,Yes full simple interest,3 months and 2 years. In results on the right the total interest payable shows 9,06,075 but when I add the interest amounts of 24 months in Repayment schedule section it sums up to 3,39,073. Where is the gap of 567002? Is this the simple interest that I will pay during moratorium? If Yes, then if I select No to question Will you be paying anything during moratorium period, even then I see total interest payable as 9,84,425 and sum of interest portion is 4,04,610? Why is the gap here since I'm not paying any simple interest?

@WeMakeScholars 2 года назад

Hi Ruturaj, the difference interest is of the loan repayment tenure which is after the moratorium and when you start paying EMI. The 24 months interest which you are summing up from the first table is the one charged during moratorium.

@sagarfartode3620 3 года назад

Mam, you are beautiful😍!

@sampathmk1010 3 года назад

Hi madam,how can I use my LIC policy as my collateral document???

@WeMakeScholars 3 года назад

Hi, Sampath! If you are keeping insurance policy as collateral, it should be a maturing policy. You will need the policy paper and surrender value certificate. Please watch this video on how collateral is valued for an education loan: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-C1vbCwz8cGs.html If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@arjunsatish5304 3 месяца назад

How was the EMI amount and Total Payment calculated one once the interest after moratorium period has been added

@WeMakeScholars 2 месяца назад

Hi Arjun! During the moratorium period, If interest is not paid, the accumulated interest will be added to your principal amount and then EMI is calculated on it. if the interest is paid, EMI is calculated on the principal amount. Again depending upon the bank the interest during moratorium period is either optional or mandatory. Please reach out to our loan team by clicking bit.ly/48cTdcR for complete guidance. Further, here is the EMI calculator bit.ly/3PPCwvV where you can find out the exact EMI to be paid.

@ackshaeyquanta3418 3 года назад

Dear, are student loans fixed or variable, such that we will be repaying the loan at a fixed interest rate through out the loan tenure? I would like to get a clarification on this subject! Does this vary from banks or from public to nbfc's?

@WeMakeScholars 3 года назад

Hi Ackshaey, interest rates of all banks and NBFCs in India are floating, SBI just made it fixed last year. For further guidance, please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.

@ackshaeyquanta3418 3 года назад

@@WeMakeScholars Thanks for the prompt reply. So bank of baroda, with a lower rate of interest, offers a floating type abroad education loan right?

@WeMakeScholars 3 года назад

@@ackshaeyquanta3418 The BOB ROI depends on which institute you take the loan for. If it's a prime institute, you can get lower interest rates. For further guidance, please request a callback: bit.ly/education-loan

@RohanKachhap 8 месяцев назад

Does banks(like SBI) charge compound interest after moratorium period ?

@WeMakeScholars 8 месяцев назад

Hi Rohan! Yes, After the completion of the moratorium period, the bank charges compound interest on education loans. For further personalized guidance, please connect to our loan team by requesting a callback on this link bit.ly/3KLb0zu Once you fill out the form, they will get back to you to guide you further. Also, they will evaluate your profile and check your eligibility with 14+ public and private lenders so you can get an education loan with the best terms and lowest ROI possible.

@tanishasharma775 3 года назад

Can i get education loan of 50 lakh without colletral to do my pilot course from phillipins/australia ? Do nbfcs have moratorium period?

@WeMakeScholars 3 года назад

Hi, Tanisha! A non-collateral loan of 50 lakhs for a pilot course in Australia or Philippines would be difficult. You may watch this video on loans for aviation programs: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-1kuSNvsaldc.html If you take an unsecured loan from a private bank/NBFC, you will have to make either full or partial interest payments even during the moratorium period. We would have to evaluate your profile to guide you on suitable loan options. Please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.

@Chefprashantk 3 года назад

Hii, I'm doing masters in Germany and taken ed advantage loan of SBI (19,50,000 with an interest rate 8.5). I want to ask you that if I don't pay any interest during moratorium period what will be the consequence and how can I reduce the repayment period of 15 years. The local SBI branch and RACPC are really worst service provider.

@WeMakeScholars 3 года назад

Hi, Prashant! Please email us the concern to hello@wemakescholars.com along with your WeMakeScholars registered email id.

@srinil.g.s8374 3 года назад

Is possible to do interest waiver during covid19 period from the government side

@WeMakeScholars 3 года назад

Hi, Srini! The RBI scheme mandates ex-gratia payment by crediting the difference between simple interest and compound interest for the period between March 1, 2020 to August 31, 2020 by the lenders. Thus, you will not benefit from this if you are applying for the loan now. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@jihanmehta9892 2 месяца назад

is it good to take morotarium perod or better to take emi from 1st month itself

@WeMakeScholars 2 месяца назад

Hi Jihan, Please note that banks do not provide an option to pay the EMI from the 1st month itself. EMI’s are charged only after the moratorium period. During the moratorium, if the bank offers you the option to pay simple interest, it's up to you whether you want to pay it or not. However, if they charge compound interest during this time, it's advisable to start paying the interest. Need assistance in your education loan process? Kindly request a callback at bit.ly/48cTdcR. Our loan team will review your profile and suggest you the best education loan option available in the market.

@s.n.tiwaribaba4598 3 года назад

Hi Ma'am, Approx 25 days ago I sent a mail regarding the update preference issue but not solved yet. Today, I tried but it's still showing an error that's why I am not able to look at scholarship and best programs so please fix this bug as soon as possible. Then, I requested a callback and after a week I received also on 11 Nov 6:30 PM but, I was busy so we decided to talk in the morning, and from then, whenever I am trying to connect with him, not picking up my phone. I am very disappointed.

@WeMakeScholars 3 года назад

Hi, Shiwanand! Sorry for the inconvenience caused. Our tech team is trying to resolve this issue and will let you know as soon as it is fixed. Your Financial Officer will contact you by tomorrow.

@josephgeorge1742 Год назад

Can we make more than emi or a lumpsum at any time based our avaiable money.

@pujapriyadarsinibag1941 2 года назад

Ma'am I wanna take a study loan in India not abroad actually .I want to know that Is SBI include the travel expenses and Equipment like laptop price in The loan amount ??

@WeMakeScholars 2 года назад

Hi, Priyadarsini! Yes, travel and laptop expenses can be included in the loan. For further guidance, please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.

@khansahabsahab2802 3 года назад

If the repayment time which is 7 years can we put 10-15 years of time for loan amount if possible so. Please let me know ma'am... 20lacks

@WeMakeScholars 3 года назад

Hi, Khan Sahab! If you want to repay your loan over 10-15 years, then you should mention that in the application form in the beginning. You may watch this video on the education loan repayment process for more details: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-KKI6-qGZM3E.html If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@ashmittyagi814 2 года назад

maam what will be my intrestt rate if cibil of mother (who is taking loan as co applicant is around 800) and it will be collaterlized with a property worth around 50 lakhs and loan amount is 2000000

@WeMakeScholars 2 года назад

Hi Ashmit! We will only connect you with the lenders depending on your profile but usually, the interest rate ranges between 8-9 % in Government banks, and in private lenders, it usually starts from 11%. You can sign up for a discussion with our team here: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.

@rishijain7988 2 года назад

Hi i have a query .. I took a loan of amt 7.5 lakh in 2018 at a rate of 9.25% pa and my current balance (amt taken from bank ) is 1.9 lakhs . So if i want to repay my loan today i.e after 4 years what total amount i have to pay ?

@WeMakeScholars 2 года назад

Hi Rishi! You may use this calculator for the same: www.wemakescholars.com/education-loan-emi-calculator. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@eshukrishnamishra8073 Год назад

Do Banks charge interest on the Sanctioned amount of loan or disbursed amount during the course?

@WeMakeScholars Год назад

Hi Eshu! You're only required to pay interest on the disbursed amount and we can help you get the unused amount deducted from your total loan amount while calculating your EMI. Please connect to our loan team by requesting a callback on this link:bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further

@RohanKachhap 8 месяцев назад

Does SBI charge compound interest even for moratorium period, they said that

@danielandrose5544 2 года назад

I want to get truck driving licence in Canada in "mti" way if I have the admit letter (they sent to me after applying) can I able to get the loan to the trucking school

@WeMakeScholars 2 года назад

Hi, Daniel! Sorry, we will not be able to help you with that.

@papajohn325 2 года назад

Mam government bank non collateral loan dete h kya? We have a property which much be around 50+ lacs. I don't want to put it on stake my parents might sell it off to buy a house somewhere else. So I want to go with non collateral loan. Does government banks give non collateral loans.?

@WeMakeScholars 2 года назад

Hi! Government banks can give you unsecured loans of up to 7.5 lakhs only. We will have to evaluate your profile to guide you on loan options. Please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.

@MP-qh8zg 3 года назад

I made an inquiry on website on 9th and got a call back yesterday on 11th after I replied on email for this but I was unable to discuss hence told to call back today around 10-11am. I did call back today at 12.45 on that same number but no answer and still waiting. Your videos are with full of information and feel ease of process, while actual picture is totally different.

@WeMakeScholars 3 года назад

Hi, Maulin! Sorry to hear that. Please share your registered email address. The loan team will contact you ASAP.

@MP-qh8zg 3 года назад

@@WeMakeScholars maulin.patel23.mp@gmail.com. The team already have. I don't want to disclose the names here contains in yours email.

@WeMakeScholars 3 года назад

@@MP-qh8zg Hi, Maulin! Your Financial Officer got in touch with you. Hope your queries have been resolved. Please feel free to reach out to her for any further questions.

@MP-qh8zg 3 года назад

@@WeMakeScholars Thanks

@shivanya2691 3 года назад

As per government norms..if Education loan waiver... Does the paid amount wil refund to my account?

@WeMakeScholars 3 года назад

Hi, Shivan! Which education loan waiver are you referring to exactly? Can you please elaborate?

@aravsgaming5623 8 дней назад

Damini looks so good ❤

@swethasenthil1615 2 года назад

Mam if i take loan amount of 20 lakhs and I've period of 7 years to repay the loan .. now if i repay the entire loan amount right after my course gets over or in the moratorium period should I pay the interest for the entire 7 years or just upto the date ?

@WeMakeScholars 2 года назад

Hi Swetha! If you are repaying your entire loan amount after the course completion or even before the moratorium period ends, You will have to pay the interest that is accumulated till date. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@sanatani9083 3 года назад

Maam can you please tell me that Interest will be on disbersed amount of semister only Or for the whole loan amount

@WeMakeScholars 3 года назад

Hi, Sanatani! Interest will be charged only on the disbursed amount. For further guidance, please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.

@sanatani9083 3 года назад

@@WeMakeScholars thank you maam🙏🏻🙏🏻🙏🏻🙏🏻🙏🏻

@shantanoumarrde 3 года назад

Mam Can We get non collateral Loan for Cadet pilot programme which cost 90 lakhs ?

@WeMakeScholars 3 года назад

Hi, Shantanu! Yes, you can but we would have to evaluate your profile to help you with this. You may watch this video on education loan for aviation programs: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-1kuSNvsaldc.html Please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.

@sanketkalathiya1179 2 года назад

Hello, I should not tell this here, but i guess there is no other option to inform this thing to you there is a some glitch in the calculator i will explain you why and how see, when i entered 1500000 as my loan amount and with 11.50 as interest and 6 months of grace period and total 6 years of tenure to repay , considering that i am not gonna pay anything so i just selected "NO" in paying anything during moratorium period after all this i got that my total interest portion for the entire loan amount is 8,16,207 now, i took same figures with considering that i will pay for 2000 as partial interest instead of nothing this way my total interest portion SHOULD BE LESS than above case ( less than 8,16,207 because i am willing to pay some amount right from the first month as a partial interest ) but, in this case i am getting more ( i.e. 8,48,522 ) than above case ( i.e. 8,16,207 ) now i don't actually know if there any reason behind that or there is something wrong in this calculator if there is a reason cover this on your next video and if not please take this into account and remove the error. thank you...........

@WeMakeScholars 2 года назад

Hi Sanket, Thanks for sharing the concern in detail. I am glad that students are using it with so much trust. Yes, there is a reason behind the same- When you select "No" payment during moratorium, we are assuming that you are going to take a loan from a Public Bank, because only they offer this option of No payment. In Public banks, the entire accrued interest of moratorium period is simple interest. Now, when you select "Partial Interest" during moratorium- only NBFCs give you this option. All NBFCs follow compound interest policy which means the leftover interest is compounded month-on-month and hence, if you are paying just a little towards your Partial interest and the rest is anyways getting compounded, eventually the interest, in this case, will be higher than the first case. I hope the clarification helps. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@vinayak24570 Год назад

Does the bank allow a moratorium period on the education loan for UG overseas education?

@WeMakeScholars Год назад

Hi Vinayak! Even in the case of a diploma, you would receive the moratorium period.If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@arpitap4859 3 года назад

Hello ma'am. Suppose i have to show required funds for UK visa application(fees + 1100 pounds per month for 9 months). But i don't need that much money for living and also i will have part-time job. So, if i don't debit that money from loan and after all suppose some money left in my toal loan, ( ex. Loan senction 25 lacs and after all 4-5 lacs left in that amount without disbursement) So can i have to pay bake and intrest on that amount? I hope you understanding what i can trying to say.

@WeMakeScholars 3 года назад

Hi, Arpit! Interest will only be charged on the amount your disburse out of the total sanctioned amount. You will not be charged interest for the amount you do not disburse. For further guidance, please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.

@samirkumarmajhi8314 3 года назад

I have applied for the callback to but I haven't received any mail confirmation nor any callback.

@WeMakeScholars 3 года назад

Hi, Samir! Your Financial Officer will be getting in touch with you shortly.

@rizwanshaikh868 3 года назад

Mam can we attach GIC paid receipt for visa process or GIC certificate is mandatory ?as certificate take's time

@WeMakeScholars 3 года назад

Hi, Rizwan! Yes, you can submit a copy of the confirmation but please check with the visa authority about that. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@rizwanshaikh868 3 года назад

@@WeMakeScholars Thank you mam

@narayan570 3 года назад

Can we repay any lump sum amount on account of principal?

@WeMakeScholars 3 года назад

Hi, Narayan! Yes, you can repay more than the fixed EMI if you are able to. It will be counted as repayment of the principal. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@gorkhaassam2947 3 года назад

Mam me filal banglore me hu but me Assam se hu so me ihm me diploma course korna chata hu so admission se pehele money ki jarurat he so milega application form kiya he aap ke website se .

@WeMakeScholars 3 года назад

Hi! Please share your registered email address so we can locate your profile.

@aniketkumarsharma2275 2 года назад

I have a doubt mam if I have taken a total loan amount of 6,16,000 at 8.6% interest for my btech degree how much money I have to pay during my moratorium period?

@WeMakeScholars 2 года назад

Hi Aniket! You may use this calculator for the same www.wemakescholars.com/education-loan-emi-calculator. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@akhilc1686 3 года назад

What will be the rate of interest if if pay the full loan amout before the loan period

@WeMakeScholars 3 года назад

Hi, Akhil! It depends on which lender you take the loan from and at what terms. You will have to pay the accrued interest up to that date. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@smitpanchal9866 3 года назад

Madam, What if i want to pay like 5 lakh during my moratorium period can i?

@WeMakeScholars 3 года назад

Hi, Smit! Yes, you can repay 5 lakhs during your moratorium period if you are able to. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@rushikeshpachupate4159 2 года назад

Mam I want help My bank charging more emi than what I expected And also more than this calulated emi from ths emi calculator Please mam help.me

@WeMakeScholars 2 года назад

Hi Rushikesh! Was your loan sanctioned via WeMakeScholars?

@akanthammaaakanthamma9309 2 года назад

Mam can you please explain how 4th semester intrest has been calculated , if we calculated according to you it is comming around 22lakh 59250 , but in screen it is showing around 27 lakh how mam can you please explain again via reply to my comments

@WeMakeScholars 2 года назад

Hi Akanthamma! Your Financial Officer can help you out with the same. Please connect to our loan team by requesting a callback on this link:bit.ly/education-loan Once you fill out the form, they will get back to you.

@shubam126 2 года назад

What about partial interest?

@WeMakeScholars 2 года назад

Hi! In the calculator, there is an option to select partial interest. You may check it out here: www.wemakescholars.com/education-loan-emi-calculator If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan

@PardeepKumar-bm5bi 4 месяца назад

Mam which public bank offers minimum rate of interest

@WeMakeScholars 4 месяца назад

Hi Pardeep! Interest rates fluctuate, and the best ROI depends on your profile and other requirements. To ensure you get the optimal deal, we recommend reaching out to our Financial Officer. You can request a callback here: bit.ly/48cTdcR. They'll review your profile and help you secure the best deal by comparing offerings from 14+ banks. Connect with them now. Best of luck! :)

@pathanferozkhan2682 3 года назад

Hello mam I'm from vijayawada if I want apply loan mean .In which city you will apply loan for me ? In vijayawada or hyd

@WeMakeScholars 3 года назад

Hi, Pathan! We can help you apply for your loan from Vijayawada. As the initiative is funded and supported by the Digital India Campaign, the mode of operations are digitally aiming to reach students from every corner of the country. You may connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once we get your request, the respective Financial Officer for your region will call you to help you further.