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🙏🙏
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.
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
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
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.
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
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
Hi, Ankit! 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
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.
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: ruclips.net/video/nlQ5wtUH4_g/видео.html You may request a callback for further guidance: bit.ly/education-loan
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...💝
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.
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
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
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
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.
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
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
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
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.
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.
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.
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
Hello Partha, Glad you found the video helpful. For further one-on-one assistance with the education loan process, please connect to our team by requesting a callback on this link: bit.ly/48cTdcR or call us at 9889882090.
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
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
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
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: ruclips.net/video/B8AhwCjhUNs/видео.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
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
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.
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)?
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 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
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
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.
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
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.
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
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
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 ??
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.
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
Hi Jasveer! We provide one-on-one support with the entired education loan, we help students check their eligibility with 14+ Public and private lenders with just a callback request so the students don't need to fill out multiple forms and visiti multiple 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/3KLb0zu
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
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..
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
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.
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.
Hi, Muk! 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
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
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?
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.
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
Hi Joshep! Thanks for reaching out, You can make part payments without any penalty and your loan will be restructured. 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/3KLb0zu
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
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: ruclips.net/video/C1vbCwz8cGs/видео.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.
Hello, thanks alot for your information. I have a small doubt at 10:55 as we didn't took any amount for 4th semester and the interest is calculated on 20 lakhs for six months which is 85000. Then adding this 85000 to the total amount which has to be 22,59,250 then how it is 27,80500?
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
Hi, Thanks for your words of appreciation. 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
Hi Rohan! SBI charge simple interest during moratorium period and that too you can opt to pay after moratorium period. We suggest you talk to our team by requesting a callback on this link: bit.ly/3KLb0zu Once you fill out the form, they will get back to you to evaluate your profile and talk to bank authorities. Also, they will check your eligibility with 14+ public and private lenders so you can get the best education loan suiting your profile.
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
Hi! You may go through this video which discusses the same: ruclips.net/video/EVDN0RvPF30/видео.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
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.
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.
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! :)
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.
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
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
Hi Shankar, No it is not. 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
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 .
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
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.
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.
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.
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?
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 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
Hi Zach! However interest will be charged on the amount that you will be disbursing from the 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
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
Ma'am i wants to ask you to that if i will be able to my whole loan amount after only 1 year of my study complete, then what will be the criteria of interest rate and repayment condition..?
Hi, Darshak! If you are able to repay your entire loan amount after one year, you may repay it and close the loan. You will have to pay the 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.
I have a Loan from avanse with interest 12.95% with grace period of 12months and study 2years. I have paid interest for this period (no idea whether it is half or full but the amount paid in advance was 1.8lakhs. Pls let me know how to calculate my Emi in this case!
@@sheikhsaahb Hi, which country and course are you going to? Because the rate of interest seems on the higher end. Also who is your coapplicant and what’s their annual salary?
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.
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
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.
@@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.
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
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
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
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.
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
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
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.?
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.
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
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 ?
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
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
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.
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
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.
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
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.
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 ??
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.
Hi! 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
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...........
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
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 ?
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
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.
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?
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
Hi, Anandhu! Generally, nationalized banks have lower interest rates than private lenders. To find out which loan options would best match your profile, 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.
@@anandhubabu7883 It depends on if your university is prime or non-prime. Prime universities have a lower interest rate in BOB. Please request a callback so the Financial Officer can help you with this.
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: ruclips.net/video/C1vbCwz8cGs/видео.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
![BLACK BAG - Official Trailer [HD] - Only in Theaters March 14](http://i.ytimg.com/vi/Du0Xp8WX_7I/mqdefault.jpg)
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🙏🙏
Thanks for pinning this comment 😀.
You people are doing great job, this kind of information is not easily available on internet.
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.
for which course you took loan?
@@abhayjoshi7282 it was for B.Tech
@@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.
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.
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
where are you now?
This is exactly the clarity I needed.
It was so confusing trying to calculate with all those factors! Thanks a lot!
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
@@WeMakeScholars Are you planning on adding the "prepayment" feature as well?
@@krishnateja1333 Hi Krishna! Thanks for the suggestion. We'll look into it.
Aap bohot accha kaam kr rhe ho ma'am impossible ko bhi possible kr rhe ho
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.
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
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
Thank you so much Mam. I am wondering why didn't I came through your channel earlier. You have sorted almost all my queries.
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
very informative video,
Addition: We can have one option of prepayment.
Hi, Ankit! 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
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.
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: ruclips.net/video/nlQ5wtUH4_g/видео.html You may request a callback for further guidance: bit.ly/education-loan
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...💝
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.
@@WeMakeScholars already did
Thankyou for the efforts taken, this was the detail that was really needed
Hey preet! Glad you liked it.
BEST EXPLAINED.... IT HELPED ME A LOT TO UNDERSTAND........TQQQQ SO MUCH.
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
Thanks alot really appreciated!
This will help to calculate my mba loan!
Really informative thanks once again
Hi, Shriharsh! Thanks for the feedback. Glad you found it helpful.
Thankyou so much..this just made life of the students a lot easier..❤️
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
All questions solved after coming to this video..... Thank you so much Dii
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
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.
Hi Parth, your calculations are not very clear. Can you please send a working sheet to us by email at hello@wemakescholars.com?
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
Thank you ma'am ❣ from delhi
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
Good initiative by We make scholar team to apprise students about finances for abroad education
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
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.
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.
@@WeMakeScholars please check your calculations r wrong
You are amazing mam! Thank you very much!
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.
Mam your videos really helps us a lot🙏
Thanks a lot.
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
Thanks. Super Useful.
Hello Partha, Glad you found the video helpful. For further one-on-one assistance with the education loan process, please connect to our team by requesting a callback on this link: bit.ly/48cTdcR or call us at 9889882090.
Woww this is so helpful...😃😍
Love to Damini😚💓💟
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
@@WeMakeScholars Did😁👍
Damini looks so good ❤
Very useful tqu ji
glad you liked it.
That’s an awesome video.Thank you so much for this valuable info.✌️💯😘💯✌️
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
Thanks for your efforts, good job
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
Will you please make a video on methods of repayment of education loan and charges for that? Like one time repayment.... Is this possible???
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: ruclips.net/video/B8AhwCjhUNs/видео.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
Thank you very much for the veryyy useful video!
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
Useful information. Thanks
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.
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)?
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
@@WeMakeScholars I request you to please read this question again.
@@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
What about partial interest?
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
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.
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
This is great... I need to talk to one of ur people...
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.
Thanks damini mam it's so helpful ☺.
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
Thank you so much❤️❤️❤️❤️❤️❤️
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
Mam, you are beautiful😍!
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 ??
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.
Ya it is really helpful video
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
awesome calculator
Hi Jasveer! We provide one-on-one support with the entired education loan, we help students check their eligibility with 14+ Public and private lenders with just a callback request so the students don't need to fill out multiple forms and visiti multiple 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/3KLb0zu
Litteraly fabulous
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
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..
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
How was the EMI amount and Total Payment calculated one once the interest after moratorium period has been added
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.
is it good to take morotarium perod or better to take emi from 1st month itself
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.
u are fantastic
Hi, Muk! 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
Very informative
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
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?
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.
@@WeMakeScholars ohh ok. Thank you!!!
Thanks a lot...
Thank you !!
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
Can we make more than emi or a lumpsum at any time based our avaiable money.
Hi Joshep! Thanks for reaching out, You can make part payments without any penalty and your loan will be restructured. 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/3KLb0zu
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
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: ruclips.net/video/C1vbCwz8cGs/видео.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.
Hello, thanks alot for your information. I have a small doubt at 10:55 as we didn't took any amount for 4th semester and the interest is calculated on 20 lakhs for six months which is 85000. Then adding this 85000 to the total amount which has to be 22,59,250 then how it is 27,80500?
Hello Rahul! In this scenario, it appears that interest has been compounded. We suggest contacting the bank in question to request full disclosure.
This is amazing
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
Best education on education loan
Hi, Thanks for your words of appreciation. 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
Does SBI charge compound interest even for moratorium period, they said that
Hi Rohan! SBI charge simple interest during moratorium period and that too you can opt to pay after moratorium period. We suggest you talk to our team by requesting a callback on this link: bit.ly/3KLb0zu Once you fill out the form, they will get back to you to evaluate your profile and talk to bank authorities. Also, they will check your eligibility with 14+ public and private lenders so you can get the best education loan suiting your profile.
thank you for detail info
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
@@WeMakeScholars sure
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.
Hi! You may go through this video which discusses the same: ruclips.net/video/EVDN0RvPF30/видео.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
Which is best PEMI (pre monthlt installments ) or paying after monitorium period.
In a case of cost efficiency.
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.
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.
Hi, Runal! Thanks for the suggestion. We'll work on that.
Mam which public bank offers minimum rate of interest
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! :)
Calculator is having some error its showing wrong calculations.
please rectify.
@deepak can you please any screenshot to hello@wemakescholars.com or explain the same here?
@@WeMakeScholars I have sent the screenshots .
@@deepakbhardwaj7773 The issue is fixed. Thanks for pointing out.
Does banks(like SBI) charge compound interest after moratorium period ?
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.
Awesome :)
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
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
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
Mam is loan and lenders account are same?
Hi Shankar, No it is not. 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
Thanku any one understand
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 .
Hi! Please share your registered email address so we can locate your profile.
Ma'am , the emi calculator is not showing result..
Hi, Muskan! Please share a screenshot of the issue to hello@wemakescholars.com . The team will get back to you.
Thank you ma'am
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
Thank you for making this video. It was a huge help for me. Thank you again.
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.
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.
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.
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?
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.
@@WeMakeScholars Thanks for the prompt reply. So bank of baroda, with a lower rate of interest, offers a floating type abroad education loan right?
@@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
what if we take get the loan but use only half of the loan?
Hi Zach! However interest will be charged on the amount that you will be disbursing from the 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
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 )
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
Ma'am i wants to ask you to that if i will be able to my whole loan amount after only 1 year of my study complete, then what will be the criteria of interest rate and repayment condition..?
Hi, Darshak! If you are able to repay your entire loan amount after one year, you may repay it and close the loan. You will have to pay the 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.
@@WeMakeScholars thank you ma'am...i am already assisted by one of your organization member. But she does not answered me when i called her ..☹️
I have a Loan from avanse with interest 12.95% with grace period of 12months and study 2years. I have paid interest for this period (no idea whether it is half or full but the amount paid in advance was 1.8lakhs. Pls let me know how to calculate my Emi in this case!
@@sheikhsaahb Hi, which country and course are you going to? Because the rate of interest seems on the higher end. Also who is your coapplicant and what’s their annual salary?
@@WeMakeScholars hi there, the course is of two years and I check the docs it says 25% of the simple interest paid advance which is 1.6lk
Maam can you please tell me that
Interest will be on disbersed amount of semister only Or for the whole loan amount
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.
@@WeMakeScholars thank you maam🙏🏻🙏🏻🙏🏻🙏🏻🙏🏻
Do Banks charge interest on the Sanctioned amount of loan or disbursed amount during the course?
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
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.
Hi, Maulin! Sorry to hear that. Please share your registered email address. The loan team will contact you ASAP.
@@WeMakeScholars maulin.patel23.mp@gmail.com. The team already have. I don't want to disclose the names here contains in yours email.
@@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.
@@WeMakeScholars Thanks
As per government norms..if Education loan waiver... Does the paid amount wil refund to my account?
Hi, Shivan! Which education loan waiver are you referring to exactly? Can you please elaborate?
What will be the rate of interest if if pay the full loan amout before the loan period
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
Mam can we attach GIC paid receipt for visa process or GIC certificate is mandatory ?as certificate take's time
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
@@WeMakeScholars Thank you mam
Is possible to do interest waiver during covid19 period from the government side
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
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.
Hi, Prashant! Please email us the concern to hello@wemakescholars.com along with your WeMakeScholars registered email id.
Does the bank allow a moratorium period on the education loan for UG overseas education?
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
I have applied for the callback to but I haven't received any mail confirmation nor any callback.
Hi, Samir! Your Financial Officer will be getting in touch with you shortly.
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
Hi, Daniel! Sorry, we will not be able to help you with that.
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.?
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.
Can we repay any lump sum amount on account of principal?
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
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
Hi Rushikesh! Was your loan sanctioned via WeMakeScholars?
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 ?
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
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
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.
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
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.
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
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.
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 ??
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.
How much intrest I have to pay
If i immediately pay the full amount within one year after graduation
Hi! 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
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...........
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
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 ?
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
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.
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.
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?
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
Hello mam , which bank have low interest rates ?
Hi, Anandhu! Generally, nationalized banks have lower interest rates than private lenders. To find out which loan options would best match your profile, 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.
@@WeMakeScholars bank of baroda or SBI , which bank have low interest
@@anandhubabu7883 It depends on if your university is prime or non-prime. Prime universities have a lower interest rate in BOB. Please request a callback so the Financial Officer can help you with this.
Hi madam,how can I use my LIC policy as my collateral document???
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: ruclips.net/video/C1vbCwz8cGs/видео.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