USD Loan vs INR Loan Calculator

Do I need a USD loan for studying in the USA?

Just because you’re going to study in the United States doesn’t mean your education loan needs to be in dollars, you may enjoy the benefits of financing in India and in INR. Use our calculator to explore what’s best for you.

USD Loan vs. INR Loan Calculator
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The currency you borrow in, matters.

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Loan Information

USD Loan

INR Loan

Loan Amount

₹

Interest Rate

Origination Fee

Interest Calculation Method

Reducing Balance

2/2

Other Information

Course + Grace Period

Months

1272

Expected Repayment Period

Months

60180

Tax Slab

5% 20% 30%

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

*View details of section 80E of Income Tax Act, 1961

Why an INR loan from Credila may make more sense

Take care of more than your tuition

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

Sanction before admission confirmation

Benefit from seamless loan sanctions.

No hidden charges

From application to disbursement, our process is unambiguous and transparent.

On-demand disbursements

Our INR loans cover the cost for the entire study period, leaving you free to focus on your studies and your next big career move.

Other calculators

We’ve developed tools that may help you plan and decide on the best options for you. Go ahead, try ‘em.

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Cost of Education Calculator

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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.

When you apply for a loan in USD or any other foreign currency, your loan repayment is linked to rupee depreciation, which may increase the cost of the loan over time. It’s important to look at how your education loan interest rate in India maintains your costs during the entire period to make an informed decision.

Typically, an education loan in INR comes with a processing fee of 1-1.5% of the loan amount, while a foreign currency loan is approximately 4%.

Generally, the processing fee is added to the loan amount in the case of a foreign currency loan, thus adding to your interest payments over time. On the other hand, an INR education loan typically requests the processing fee separately, thus not adding to your loan amount.

With an INR loan from Credila, you can bring down the effective rate of interest on your education loan by claiming the entire interest component as a tax deduction.

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