Education Loan Calculator
Calculate EMI for education loans including moratorium period considerations.
Breakdown
Monthly EMI
₹16,601
Total Interest
₹3,94,499
Total Payment
₹13,94,499
Schedule
| Year | Principal Paid | Interest Paid | Balance |
|---|---|---|---|
| 1 | ₹1,03,890 | ₹95,324 | ₹8,96,110 |
| 2 | ₹1,14,769 | ₹84,445 | ₹7,81,341 |
| 3 | ₹1,26,787 | ₹72,427 | ₹6,54,554 |
| 4 | ₹1,40,063 | ₹59,151 | ₹5,14,491 |
| 5 | ₹1,54,729 | ₹44,485 | ₹3,59,762 |
| 6 | ₹1,70,932 | ₹28,283 | ₹1,88,830 |
| 7 | ₹1,88,830 | ₹10,384 | ₹0 |
What is Education Loan?
An Education Loan helps students finance higher education expenses such as tuition fees, accommodation, books, and other academic costs. Unlike most loans, education loans usually include a moratorium period, which allows students to focus on studies before starting full EMI repayments.
How Education Loan Works
Education loans typically have three phases: Study Period (2-4 years), Moratorium Period (study + 6-12 months after graduation), and Repayment Period (full EMIs on reducing balance).
During the moratorium, simple interest accumulates. Some loans let students pay interest during this phase to reduce total cost.
Study Period
Duration of the course, usually 2-4 years
Moratorium Period
Study period + 6-12 months after graduation before EMIs begin
Interest Options
Pay interest during moratorium or let it accumulate
Reducing Balance EMI
Standard EMI repayment after moratorium ends
Key Benefits
Moratorium Period
No EMI payments during studies and a buffer period after
No Foreclosure Penalty
Most education loans allow early closure without penalty
Tax Benefits
Tax deductions available on interest payments
Education Focused
Specifically designed to support higher education funding
Important Disclaimer
This information is for educational purposes only and not financial advice. Interest rates, government subsidies, moratorium rules, and repayment terms may vary by bank, financial institution, or government scheme.
Always review the official loan agreement and eligibility conditions before applying for an education loan.