It is possible to increase the tenure of an education loan, but it depends on the lender's policies and the borrower's qualifications. Some lenders may offer an extension of the loan term based on the borrower's income, credit score, and other factors. Additionally, some loan programs may have a maximum loan term that cannot be exceeded. It is best to check with the lender directly to see what options are available.
You can use an education loan EMI calculator as many times as you need to. It is a useful tool that can help you plan your finances and estimate your monthly payments. You can use it to compare different education loan options and determine which one is the best for you. It is also helpful to use the calculator multiple times as you may need to adjust your education loan amount, interest rate, or repayment period based on your financial situation.
Yes, Auxilo offers unsecured education loans without the requirement of collateral. However, the terms and conditions of the loan, including interest rates and repayment terms, may vary depending on the borrower's creditworthiness and financial situation.
An education loan typically covers expenses related to higher education such as tuition, room and board, books, and other related costs. Some education loans may also cover other expenses such as a computer or transportation. The specifics of what is covered in an education loan can vary depending on the lender and the loan program. It's important to carefully read the terms and conditions of any loan you are considering to ensure that it covers the expenses you need it to.
EMI stands for "Equated Monthly Installment." It is a fixed amount of money that you need to pay to your lender each month to pay off a loan. The EMI includes both the interest and the principal amount of the loan. The amount of the EMI is determined by the loan amount, the interest rate, and the loan tenure (the number of months you have to repay the loan). Your lender will provide you with a schedule of EMIs that you need to pay each month until the loan is fully paid off.
