Education and Career Forum

Hi everyone, if I take an education loan from any bank then I will have to pay EMI. But the EMI amount is constant or it will decrease? I just want to know whether the EMI amount would be less after sometime? Kindly tell me asap.

Applicant can pause the EMI in case of insufficient balance.

If a candidate wishes to reduce the tenure , they can ask their kender to reduce EMI after substantial prepayment.

If they are facing any sort of financial stress and want to get some relief by reducing their loan EMI , then they may consider extending the tenure of loan.

EMI can be calculated with the help of mathematical formula
EMI amount = [P x R x (1+R)^N]/[(1+R)^N-1]
EMI value will change if the amount of principal , rate or year change.