CalcVind

Education Loan EMI Calculator

EMI after the moratorium, with interest during your studies

Education Loan Details

₹

₹10,00,000 · 10 lakh

%

Usually the course length plus 6–12 months

months
years

Your Education Loan EMI

₹19,086Monthly EMI
₹12,90,337Total interest
₹22,90,337Total payment
10 lakh
Loan amount
₹4,75,000
Interest while studying
₹14,75,000
Balance when EMIs start
120
Number of EMIs
  • Principal₹10,00,000(44%)
  • Interest₹12,90,337(56%)

Year-by-year repayment

YearPrincipal paidInterest paidBalance left
1₹92,884₹1,36,150₹13,82,116
2₹1,02,102₹1,26,931₹12,80,014
3₹1,12,236₹1,16,798₹11,67,778
4₹1,23,375₹1,05,659₹10,44,403
5₹1,35,620₹93,414₹9,08,783
6₹1,49,080₹79,954₹7,59,704
7₹1,63,875₹65,158₹5,95,828
8₹1,80,140₹48,894₹4,15,689
9₹1,98,018₹31,016₹2,17,671
10₹2,17,671₹11,363₹0
  1. 1
    Enter loan and rate
    From your bank's sanction letter
  2. 2
    Set the moratorium
    Course length plus grace period
  3. 3
    See your EMI
    And interest while you study

How is education loan EMI calculated?

During the moratorium most banks charge simple interest. If you don't pay it, it's added to the loan and EMIs are worked out on the larger amount.

Moratorium interest = P × rate × months ÷ 12

EMI = (P + unpaid interest) × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)

Pay the interest while studying if you can

Paying the simple interest every month during the course keeps the loan from growing, and many banks give a 0.5–1% rate concession for it. The EMI and total interest above show the difference.

Tax deduction on the interest

Under the old tax regime, all the interest you pay on an education loan for yourself, your spouse or children is deductible for up to 8 years from when repayment starts (section 80E), with no upper limit. There's no deduction for the principal.

Related calculators

Frequently asked questions

What is the moratorium period?

It's the time when you don't have to pay EMIs: usually the course length plus 6 to 12 months after it ends or after you get a job, whichever is earlier.

Is collateral needed?

Banks generally don't ask for collateral on loans up to ₹7.5 lakh. Larger loans usually need property, deposits or a third-party guarantee.

Is there a government interest subsidy?

Yes, for studies in India. The Central Sector Interest Subsidy scheme pays the moratorium interest for students whose family income is up to ₹4.5 lakh a year, and the PM-Vidyalaxmi scheme gives a 3% interest subsidy on loans up to ₹10 lakh for family incomes up to ₹8 lakh at top-ranked institutions. Both are applied for through the PM-Vidyalaxmi portal.

These results are estimates for planning only, not financial, investment or tax advice. Rates and rules change, and your bank, fund house or employer may calculate slightly differently. Check with them or a qualified adviser before you decide.

Sources

Last reviewed: October 2026