Education Loan Calculator
Calculate EMI with moratorium period and total education loan cost
Loan Details
Total education loan amount
Typical range: 8% - 14% p.a.
Period during which no EMI is paid (study period + 6 months)
Interest is added to principal (capitalized)
Period for repaying the loan after moratorium
Total Period:
Moratorium (4 years) + Repayment (10 years)
= 14 years total
Monthly EMI (After Course)
Moratorium Period Impact
Total Loan Cost
Cost Breakdown
Moratorium Impact: Interest during course adds ₹4,89,354 to your loan burden!
Understanding Education Loans
Education loans in India cover tuition fees, accommodation, books, equipment, and travel expenses for higher studies in India or abroad.
Moratorium Period: The period during which you don't pay EMI - typically course duration + 6 months or 1 year after getting a job. Interest still accrues during this time.
Interest Types: Simple interest means you pay interest only on principal. Compound interest (capitalized) means interest is added to principal, increasing your loan amount.
Tax Benefits & Tips
- •Section 80E: Interest paid on education loan is fully tax deductible for 8 years
- •Up to ₹4 lakh loan doesn't require collateral for studies in India
- •Co-applicant (parent/guardian) is mandatory for students
- •Start partial EMI payments during course to reduce interest burden
- •Compare interest rates from banks, NBFCs, and government schemes
- •Central Sector Interest Subsidy Scheme covers interest during moratorium for economically weaker sections