Use Citi Bank Student Loan Calculator to calculate your monthly installments & plan your future and have a proper financial plan monthly EMI’s
In a knowledge economy that we live in today in India, education plays a pivotal role. Education empowers us to reach new heights in our career, enables to live a respectable life, elevates our standard of living, aids accomplish financial goals, and much more!
With an Citi Bank Student Loan, you can make your dreams come true. The loan for education is available for career-oriented courses like medicine, engineering, management, etc. either at a graduate or post-graduate level in prime institutes in India and abroad. The loan covers tuition fees, examination fees, library subscription, cost of books, needed lab tools/equipment, laptop/computer, hostel charges (if any), and so on.
Students can directly apply for an Citi Bank Student Loan. However, their parent(s) or guardian will be treated as co-applicants, and their role will be akin to a primary debtor (a person who owes money).
But before you apply for an Citi Bank Student Loan, as a prudent loan planning exercise, assess how much the Equated Monthly Instalment (EMI) will be.
When one takes a Citi Bank Student Loan, a natural question that comes to mind is how much the EMI would (Equated Monthly Installment) be that one has to pay back to the bank every month.
A Citi Bank Student Loan calculator helps you know the amount of the EMIs that you will need to pay towards your Student Loan and helps make an informed decision. The EMI-Calculators’s Citi Bank Student Loan calculator also functions as a Citi Bank Student Loan interest calculator, as you will be able to know the interest amount due on your Citi Bank Student Loan, in addition to the overall EMI amount, in just 3 simple steps. First, enter the loan amount that you wish to take. Then, select your preferred tenor. Finally, put in the Citi Bank Student Loan interest rate advertised on the website. That’s all!
Our EMI-Calculators’s Citi Bank Student Loan calculator has been designed to offer utmost efficiency with maximum simplicity. This EMI calculator is user friendly, saves time and is highly scalable. What is Citi Bank Student Loan?
EMI stands for Equated Monthly Instalment. EMI is the monthly repayment that a Citi Bank Student Loan borrower must make to repay the Citi Bank Student Loan within the specified loan tenor.
Factors that Affect Citi Bank Student Loan
- Principal- The principal is the loan amount that you avail from the lender. It is directly proportional to your EMIs – lower principal will lower your monthly instalments and vice versa.
- Rate of interest- The rate of interest is the rate at which the lender offers you the loan. It is also directly proportional to the value of your loan EMIs.
- Tenure- The tenure is the time within which you repay your loan. The tenure is inversely proportional to your loan EMIs – longer tenure makes the monthly instalments cheaper and vice versa.
Citi Bank Student Loan for Different Loan Amounts
- The EMI that you can avail with Citi Bank Student Loan of 10 Lakh is 10,024 with 15-years tenure. The EMI increases when you opt for tenure of 5 years.
- The EMI for a loan of 15 Lakh is higher 30,992, when you opt for 5-years. It decreases to 15,036 if you opt for tenure of 15 years.
- For a loan of 25 Lakh, the cheapest EMI you can avail with 15-year tenure – 25,060. Decreasing the tenure to 5 years increases the EMI to 51,654.