Education Loan vs. Self Finance Calculator

What if I already have the funds for my education?

Education loans make it easy to fund your education without having to dip into your finances immediately. Our calculator estimates how much you may save by availing an education loan from Credila.

Education Loan vs. Self Finance Calculator
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Simply enter some numbers and we’ll tell you your potential savings.

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Loan Details

Loan Amount

₹

1 Lakh1 Crores

Loan Tenure

Months

60180

Interest Rate

715

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Your Investments

Investment Type	Debt Mutual Funds	Soverign Gold Bonds	Equity Oriented Hybrid Mutual Funds	Equity Oriented Mutual Funds	Own Business
Asset Allocation %	%	%	%	%	%
Expected Return %	%	%	%	%	%

Investment Type	Asset Allocation %	Expected Return %
Debt Mutual Funds	%	%
Gold Soverign Gold Bonds	%	%
Equity Oriented Hybrid Mutual Funds	%	%
Equity Oriented Mutual Funds	%	%
Own Business	%	%

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*These are tentative calculations, Click here to read more details on this calculator

*rel="noopener noreferrer"View details of section 80E of Income Tax Act, 1961

Why choose Credila education loans?

Attractive tax benefits that help you save

Get tax deductions on your entire interest amount, bringing down the overall cost of education. Tax benefits that your parents may also be able to avail.

Take care of more than your tuition

Education loans that offer up to 100% finance, covering tuition fees and living expenses.

Tax efficient disbursements

Pay only 0.5% Tax Collected at Source (TCS) on foreign disbursements, leaving you with more cash-in-hand to help achieve your goals.

Flexible repayment schedules with up to 15-year tenures

Customisable EMI plans which align with your financial goals.

Sanction before admission

Benefit from seamless loan sanctions.

An opportunity to build your credit score.

Education loans lay the foundation for all your future financial needs.

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Frequently Asked Questions

Got more questions about going for an education loan versus self-financing your education? Here are all the answers.

Some common ways of funding higher education include using family savings, borrowing from friends and relatives, selling assets such as property, gold, etc. Alternatively, you could choose to take an education loan from a credible financial institution. The latter opens you up to a range of benefits, including:<ul style='list-style-type:none;padding-left:0'><li>- Income tax benefits as per the education loan interest rates you pay</li><li>- Opportunity for students to start their financial planning </li><li>- Preservation of family savings </li><li>- The start of a good credit history </li></ul>Hence, education loans may be the preferred choice to finance your future.

Yes, one should avail of a loan either way because an education loan may help preserve your family savings. A student can also get a head start on assuming financial planning and building a positive credit history

Everyone applying for higher education should opt for an education loan considering the following:<ul style='list-style-type:none;padding-left:0'><li>- Rapidly rising costs of education </li><li>- Income tax benefit under Section 80E of the Income Tax Act, 1961 </li><li>- Call for financial independence </li><li>- Need to build a better credit history</li></ul>

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