Education Loan EMI Calculator
Calculate your monthly EMI, total interest, and explore the impact of the moratorium period on your study abroad education loan.
Loan Details
When does repayment start?
Moratorium Period
Course Period (48 month) + Grace Period (6 month)
(Month after course ends)
Monthly EMI
₹0
Total Interest Payable
₹0
Total Amount Payable
₹0
Charts & Analysis
Please add a course first to view the principal vs interest breakdown and loan balance projection.
Understanding Education Loans
Everything you need to know about planning your finances and calculating the true cost of studying abroad
What is an Education Loan?
An education loan is a sum of money borrowed to finance post-secondary education or higher education-related expenses. It covers the core cost of tuition, but also book, supplies, living expenses, and travel while the borrower is pursing a degree.
What is Moratorium Period?
An education loan is a sum of money borrowed to finance post-secondary education or higher education-related expenses. It covers the core cost of tuition, but also book, supplies, living expenses, and travel while the borrower is pursing a degree.
How is EMI Calculated
Banks use a standard compounding formula to determine your exact monthly repayment figure over the tenure of your loan.
Example Calculation
For a ₹10 Lakhs loan at 10.5% interest over 5 years (60 months)
Tips to Reduce EMI
Frequently Asked Questions
Can I get a loan without collateral ?
Yes, banks offer education loans up to ₹7.5 Lakhs. Premium institutes or NBFCs may offer higher non-collateral amounts
Does moratorium affect my EMI?
No, If you don't pay the interest during the moratorium period, it gets added to the principal amount, which significant increases your eventual EMI.
Are there tax benefits ?
Yes, under Section 80A of the income Tax Act, the interest paid on the education loan is completely tax-refundable for upto 8 years