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Education Loan EMI Calculator

Instantly calculate your student loan Equated Monthly Installment (EMI). Plan your repayment journey and view your total interest cost.

menu_book Loan Details

Yr
Mo

*Note: Tenure starts after the moratorium period.

Monthly EMI

₹0

Principal Amount

₹0

Total Interest

₹0

Total Repayment

(Principal + Interest)

₹0

Amortization Schedule

Time Principal Paid Interest Paid Total Payment Remaining Balance

How Does an Education Loan EMI Calculator Work?

Taking an education loan is a significant financial step towards building your career. An EMI calculator helps you understand your future monthly obligations once your repayment phase begins, allowing you to plan your post-graduation finances effectively.

Understanding the Moratorium Period

Unlike standard loans, education loans come with a "Moratorium Period" or a "Grace Period". This usually covers the duration of your course plus an additional 6 months to 1 year after you graduate (to give you time to find a job). During this time, you do not need to pay the EMI. However, interest continues to accrue during this period and is usually added to your principal amount once repayment begins.

The EMI Formula

Once your repayment period starts, the calculation uses the standard universal EMI formula:

$$E = P \times r \times \frac{(1+r)^n}{(1+r)^n - 1}$$

Frequently Asked Questions

Are there tax benefits for Education Loans? expand_more
Yes! Under Section 80E of the Indian Income Tax Act, the entire interest portion of your Education Loan EMI is 100% tax-deductible. There is no upper limit on this deduction, and it can be claimed for up to 8 consecutive years. Note: The principal portion is not tax-deductible.
Should I pay interest during the moratorium period? expand_more
While you are not required to pay anything during the moratorium period, paying just the simple interest portion (if you or your parents can afford it) is highly recommended. If you don't, the interest gets added to your principal, and you end up paying "interest on interest" once the EMI phase begins.