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#1
20th October 2018, 02:04 PM
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Interest rates calculation of Education Loan in IndusInd Bank for BE(Architecture Engineering) aspirant?
Respected Sir/Madam, I am interested to study BE(Architecture Engineering) by taking an education loan from IndusInd Bank. I don’t know how they calculate the interest rates. So, I just want to know about the calculation of education loan. Please tell me asap.
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#2
21st July 2022, 11:55 PM
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Re: Interest rates calculation of Education Loan in IndusInd Bank for BE(Architecture Engineering) aspirant?
To calculate the amount of student loan that accrues monthly, find your daily interest rate and multiply it with number of days since your last payment.
Then multiply that by your loan balance Interest rates are expressed as an annual percentage rate. S.I = P×R×T/100 To calculate compound interest add 1 to the interest rate in decimal form , raise this sum to the total number of compound periods and multiply it by principal amount The original principal amount is subtracted from resulting value. |
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