Education loan EMI calculator
Plan the repayment on a student loan. Enter the amount, rate and tenure for your monthly EMI, total interest and full schedule — and see how the moratorium and the Section 80E deduction change the real cost.
Loan details
Tweak the numbers - results update live
₹10L
Principal
amount borrowed
₹4.16L
Total interest
over the tenure
₹14.16L
Total payable
principal + interest
Principal vs interest
What you repay over 7 years
- Principal₹10L
- Interest₹4.16L
Year-by-year schedule
How the balance falls as you repay
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹1,02,155 | ₹1,00,177 | ₹8,97,845 |
| 2 | ₹1,13,413 | ₹88,919 | ₹7,84,431 |
| 3 | ₹1,25,912 | ₹76,420 | ₹6,58,519 |
| 4 | ₹1,39,788 | ₹62,544 | ₹5,18,732 |
| 5 | ₹1,55,193 | ₹47,139 | ₹3,63,539 |
Monthly EMI
₹16,861
Invest in yourself
Repay after you earn
An education loan is built to be paid back once you’re working. A moratorium covers the study years, and Section 80E makes the interest fully deductible — so the smart moves are to service interest early and claim every rupee of the deduction.
- 1
Borrow for the course
Tuition, living costs and more are funded; repayment starts after you finish.
- 2
Mind the moratorium
Interest accrues during study — paying it now keeps your future EMI low.
- 3
EMI kicks in
After the holiday, the reducing-balance EMI runs for 5–15 years.
- 4
Claim 80E
All interest paid is tax-deductible for up to 8 years (old regime).
Questions
Frequently asked
Education loan EMI uses the reducing-balance formula EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan, r is the monthly rate and n is the tenure in months. The EMI shown here is for the repayment period after the course and moratorium end. Many lenders let the tenure run 5–15 years, which keeps the EMI affordable for a fresh graduate.
The moratorium is a repayment holiday covering the course duration plus 6–12 months, during which you usually don’t pay EMIs. However, interest still accrues. If you pay at least the simple interest during the moratorium, your loan stays smaller and the EMI is lower; if not, the accrued interest is added to the principal and your EMI rises. Enter your post-moratorium loan amount above for the most accurate EMI.
Under Section 80E, the entire interest paid on an education loan is deductible from taxable income for up to 8 years, with no upper limit, in the old tax regime. There is no deduction on the principal. This can meaningfully lower the effective cost — combine it with our income tax calculator to see your savings.
If you can, yes. Servicing the interest during the moratorium prevents it from being capitalised into the principal, so your post-study EMI and total interest are both lower. Even partial payments help. If money is tight, the full moratorium is still an option — just expect a larger loan when repayment begins.
Education loan rates in India typically range from about 8.5% to 15%, depending on the lender, the course and institution, collateral, and the co-applicant’s profile. Loans for premier institutions and those with collateral usually get the best rates. Compare offers and enter your rate above.