Calculator
Education loan EMI calculator
Borrow for the degree, deduct the interest. Run the EMI first.
Typical education loans: 10–13% over 5–10 years incl. moratorium. Full interest deductible u/s 80E for 8 years (no cap).
- Monthly EMI₹25,684
- Total interest₹6.57 L
- Total payable₹21.57 L
Hover a bar for that year's principal vs interest split.
Reducing-balance EMI. A 0.5% rate negotiation or yearly prepayment shortens the loan more than it looks — run the numbers before signing.
What this calculator answers
A ₹15,00,000 education loan at 11% over 7 years costs about ₹25,684 a month, ₹6,57,427 in interest and ₹21,57,427 in total. Adjust the amount, rate and repayment tenure to see the EMI and the interest split.
How it is calculated
Reducing-balance EMI: EMI = P × i × (1 + i)^n ÷ ((1 + i)^n − 1), with i equal to one-twelfth of the annual rate and n the number of repayment months; the chart amortises the loan month by month.
Defaults are ₹15 lakh at 11% over 7 years, in the 10–13% and 5–10-year range typical of education loans. A moratorium is not modelled separately — enter the tenure you will actually repay over.
Common questions
Is education loan interest tax deductible?
Yes — Section 80E allows the full interest as a deduction for eight years from the first repayment with no upper cap, while the principal is not deductible. The income tax calculator applies 80E in its old-regime mode.
What happens during the moratorium?
Many lenders charge only interest during the study period, and unpaid interest can be added to the principal. Enter the amount you will actually repay over the tenure you will actually take.
Should I take the longest tenure available?
A longer tenure lowers the monthly EMI and raises total interest. The trade-off is between monthly cash flow and the total payable shown here.
Source & freshness
- Source
- Deterministic formula in lib/calculators.ts
- Timeliness
- Static-verified
- Method
- calculated
- Note
- Illustrative projection from your inputs — not a market quote.