Education Loan EMI Calculator
Instant results as you type.
₹
%
months
Monthly EMI
₹25,291.01
Total interest₹6,24,444.82
Total amount payable₹21,24,444.82
Interest as % of loan41.63%
For education and planning only. Your bank or lender’s actual figures can differ — fees, rounding, day-count conventions and local rules vary. Always confirm the final numbers with your provider before deciding.
An education loan is unusual: repayment does not start when the money is borrowed. There is normally a moratorium covering the course plus six months to a year, and interest quietly accumulates during it. This calculator shows the EMI once repayment begins, the total interest, and what the loan costs relative to the amount borrowed — the number worth comparing against the salary the qualification is expected to earn.
How to use it
- Enter the sanctioned loan amount and the rate.
- Set the repayment tenure — this begins after the course and grace period, not today.
- Read the EMI you will face when repayment starts, and the total interest.
Examples
- 15 lakh at 10.5% over 7 years: 25,291 a month, and 6.24 lakh in interest — 42% of the loan.
- Paying only the interest during the study period keeps the principal from growing.
Frequently asked questions
- When does repayment on an education loan actually start?
- After the moratorium, which normally covers the course duration plus six months to one year, depending on the lender and whether you have found work. That means the EMI you calculate here begins one to six years from now — but the loan is accruing interest throughout that wait.
- What is a moratorium, and does interest build during it?
- It is a repayment holiday, not an interest holiday. Interest is charged through the moratorium and, unless you pay it, is added to the principal — so you then pay interest on that interest for the rest of the tenure. On a long course this can add a lakh or more before you have made a single EMI.
- Should I pay the interest while still studying?
- If you can, yes. Paying just the monthly interest during the course keeps the principal from swelling, and many banks offer a small rate concession for doing so. Even partial payments help. It is the single most effective way to reduce what an education loan finally costs.
- Is education loan interest tax-deductible?
- In India, Section 80E allows a deduction on the interest paid on an education loan for higher studies, with no upper limit on the amount, for up to eight years from when repayment begins. It covers interest only, not principal. Rules change, so confirm the current position with a tax professional before relying on it.
- How much education loan is too much for a given salary?
- A workable guide is to keep the total loan at or below the realistic first-year annual salary the qualification commands. Beyond that, the EMI tends to consume so much of early-career income that saving becomes impossible. Calculate the EMI here and compare it against expected take-home pay before accepting the sanction.