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Principal- The principal is the IIFL Loans Student Loan amount that you avail from the lender or banker. It is directly proportional to your all EMIs - lower principal will lower your monthly instalments for IIFL Loans Student Loan and vice versa.
Rate of interest- The rate of interest for IIFL Loans Student Loan is the rate at which the lender offers you the IIFL Loans Student Loan. It is also directly proportional to the value of your IIFL Loans Student Loan EMIs.
Tenure- The tenure is the time within which you repay your IIFL Loans Student Loan. The tenure is inversely proportional to your all other loan EMIs - longer tenure makes the monthly EMI instalments cheaper and vice versa.