Education Loan Calculator
Calculate EMI for education loans. Plan your higher education financing for studies in India or abroad.
Results
Monthly EMI
₹0
Total Interest
₹0
Total Payment
₹0
How to Use Education Loan Calculator
- 1
Enter the total loan amount needed
- 2
Input the interest rate
- 3
Specify moratorium period (study + 6-12 months)
- 4
Enter repayment tenure after moratorium
Education Loan Calculator Formula
Interest during moratorium is added to principal; EMI = [P × R × (1+R)^N] / [(1+R)^N - 1]Example Calculation
Input Values
Loan Amount
₹20,00,000
Interest Rate (Annual)
9.5 %
Moratorium Period
12 months
Repayment Tenure
84 months
Results
Monthly EMI
₹32,847
Total Interest
₹9,59,148
Total Payment
₹29,59,148
Frequently Asked Questions
What is moratorium period?
Moratorium is the period during study plus 6-12 months after course completion when you don't need to pay EMI. Interest accrues during this period.
Is education loan interest tax deductible?
Yes, the entire interest paid on education loan is tax deductible under Section 80E for up to 8 years.
Do I need collateral for education loan?
Loans up to ₹7.5 lakhs typically don't require collateral. Higher amounts may need property or other collateral.