Education Loan Calculator
EMI and total interest on an education loan, with the moratorium interest paid, added simply or compounded
EMI after the moratorium
₹18,501
- Owed when repayment starts
- ₹14,00,000
- Total interest
- ₹12,20,132
- Total paid
- ₹22,20,132
Where the money goes
The same loan, three ways of handling moratorium interest
- Simple interest, added when repayment starts (yours)
- EMI ₹18,501, interest ₹12,20,132
- Compounded monthly, added when repayment starts
- EMI ₹19,682, interest ₹13,61,831
- Paid every month during the moratorium
- EMI ₹13,215, interest ₹9,85,809
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How this is calculated
Formula
EMI = B × i × (1 + i)ⁿ ÷ [(1 + i)ⁿ − 1], B = balance when repayment starts
With your numbers
- 1Moratorium interestP × i × m₹10,00,000, 48 months → ₹4,00,000
- 2Balance when repayment starts₹10,00,000 + ₹4,00,000 = ₹14,00,000
- 3EMI₹14,00,000 over 120 months = ₹18,501
- Interest subsidy schemes, which pay the moratorium interest for eligible students, are not modelled.
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