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Education Loan Calculator

Estimate your education loan EMI and repayment schedule after the course moratorium ends. Adjust any input below and your results update instantly.

Your details

Adjust the inputs below and your results update instantly.

Pay interest during moratorium

Off assumes you defer all interest until repayment starts.

Loan amount (₹)*

≈ ₹15.00 L

The total amount disbursed for your education, drawn down over your course.

₹1L₹50L

e.g. ₹15,00,000 for a 4-year degree

Interest rate (% p.a.)*

The annual interest rate charged on your education loan.

7%15%

e.g. 10% for an education loan

Course + moratorium period (years)*

The moratorium is your course duration plus a grace period (commonly 6–12 months); most lenders don't require EMI payments until this ends.

0.57

e.g. 4.5 years (4-year course + 6-month grace)

Repayment tenure (years)*

How long you'll take to repay the loan via EMI once the moratorium ends.

115

e.g. 10 years

How these compare

vs. typical India long-term ranges

Interest rate: 10%

Typical education loan rate: 8–11%

Typical

These are example numbers. Edit any input on the left to see your own.

Your monthly EMI is

₹28,743

starting after 4.5y moratorium

Loan amount

₹15.00 L

Interest capitalized

₹6.75 L

Balance through moratorium and repayment

Amount owedOriginal loan amount

The moratorium period comes first, then repayment begins. Watch how the balance moves against your original loan amount.

Principal vs. interest, by repayment year

PrincipalInterest

How much of that repayment year's EMI went toward principal vs interest. Hover a bar for exact figures.

Year-by-year amortization

Counted from the start of repayment, once the moratorium ends.

Repayment yearOutstanding balanceInterest paid so farStatus

1₹20.42 L₹2.11 L

6% loan repaid

6% of principal repaid

3₹17.31 L₹5.91 L

20% loan repaid

20% of principal repaid

5₹13.53 L₹9.02 L

38% loan repaid

38% of principal repaid

7₹8.91 L₹11.30 L

59% loan repaid

59% of principal repaid

9₹3.27 L₹12.56 L

85% loan repaid

85% of principal repaid

10₹0₹12.74 L

100% loan repaid

100% of principal repaid

Compare scenarios

See how rate and moratorium length move your total cost.

Your plan

4.5y moratorium · 10%

₹34.49 L

Total cost of loan

Baseline

Rate +1%

4.5y moratorium · 11.0%

₹37.07 L

Total cost of loan

+₹2.58 L

Moratorium 3.5y

3.5y moratorium · 10%

₹32.11 L

Total cost of loan

-₹2.38 L

Worked example, using your numbers

A step-by-step walkthrough of how your loan becomes your EMI.

Step 1 · Moratorium interest

Over your 4.5-year moratorium at 10% simple interest, your loan accrues

₹6.75 L

Step 2 · Principal at repayment start

₹15.00 L borrowed becomes a repayment-start principal of

₹21.75 L

Step 3 · EMI formula

Applying the EMI formula across 120 monthly instalments gives you

₹28,743

✓

Your ₹15.00 L loan needs an EMI of ₹28,743 once repayment starts, a total cost of ₹34.49 L after the 4.5-year moratorium.

Personalised insights

What your numbers reveal, and what changing them would do.

Your ₹21.75 L principal needs an EMI of ₹28,743

Over 10 years at 10% once repayment starts, you'll pay ₹12.74 L in interest, a total repayment of ₹34.49 L.

4.5 years of moratorium interest grows your loan to ₹21.75 L

₹6.75 L in accrued interest is capitalized into your principal before repayment begins, from ₹15.00 L to ₹21.75 L.

Paying interest during moratorium would save ₹3.95 L in total

Deferring all interest grows your loan to ₹21.75 L before repayment even starts, but paying it along the way avoids that compounding cost.

A 1% higher rate would add ₹2.58 L to your total cost

At 11.0% instead of 10%, your total cost of borrowing would rise from ₹34.49 L to ₹37.07 L.

How this is calculated

Every step of the math behind your result, shown in the open.

Interest accrued during moratorium

P = loan amount, r = annual interest rate, t_m = moratorium period (years), I_m = interest accrued

Interest typically accrues as simple interest during the moratorium. It isn't compounded month to month the way EMI-phase interest is.

Example: ₹15.00 L × 10% × 4.5y → ₹6.75 L accrued

Principal when repayment begins

P = loan amount, I_m = interest accrued during moratorium, P' = principal at repayment start

If moratorium interest isn't paid as it accrues, it's added to ("capitalized" into) your principal: your EMI is then calculated on P', not the original P.

Example: ₹15.00 L + ₹6.75 L → ₹21.75 L at repayment start

The EMI formula

P' = principal at repayment start, r_m = monthly rate, n = number of repayment months

This formula spreads your repayment-start principal (P') into n equal monthly instalments, each covering that month's interest plus a growing share of the principal.

Example: ₹21.75 L over 120 months at 0.833%/month → ₹28,743 EMI

Assumptions

Moratorium interest accrues as simple interest, capitalized once at the end of the moratorium.
The interest rate stays fixed for the entire moratorium and repayment tenure.
No prepayments or missed instalments are made during repayment.
Figures are indicative and pre-tax, not financial advice.

Understanding your education loan

The concept, the motivation, and what to watch out for.

What is an education loan moratorium?

An education loan's moratorium is the period (typically your course duration plus a grace period of 6–12 months) during which most lenders don't require you to pay any EMI.

But interest usually keeps accruing during that time. If you don't pay it as it accrues, it gets added to your principal ("capitalized") right before repayment starts, meaning your EMI is calculated on a loan amount larger than what you originally borrowed.

The moratorium doesn't mean interest-free

Unless you pay interest during your course, it silently grows your loan balance: the EMI you eventually pay is based on a larger, capitalized principal.

The underlying EMI math is the same as any loan

Once you know the principal at the start of repayment, rate, and tenure, an education loan EMI is calculated exactly like any other EMI-based loan — this education loan EMI calculator runs the same formula instantly using your numbers.

The interest is fully tax-deductible

Unlike most loans, Section 80E lets you deduct the entire interest paid on an education loan from taxable income, with no upper limit, for up to 8 years. That's a real reduction in your effective cost that this number doesn't show.

Did you know?

A few facts behind education loans and moratoriums.

80E

Education loan interest has an uncapped tax deduction

Section 80E allows the full interest paid on an education loan to be deducted from taxable income for up to 8 years, with no upper limit, unlike home loan interest deductions.

Simple

Moratorium interest is usually simple, not compound

Interest accrued during the moratorium is typically calculated as simple interest. It's only once it's capitalized into your principal that it starts compounding during repayment.

Pay-as-you-go

Paying interest during your course avoids capitalization

Even partial interest payments during the moratorium reduce how much gets added to your principal, and therefore how much interest-on-interest you pay later.

Float

Rates can change during your moratorium too

Most Indian education loans are tied to an external benchmark rate, so your interest rate (and the amount that accrues) can shift even before repayment begins.

Frequently asked questions

Straight answers to the questions we hear most about education loans.

What is a moratorium period on an education loan?

It's the period (usually your course duration plus a grace period of 6–12 months) during which most lenders don't require EMI payments, giving you time to complete your studies and find a job before repayment begins. This education loan EMI calculator factors the moratorium in automatically when estimating your EMI.

Does interest still accrue during the moratorium if I'm not paying anything?

Yes, in most cases. Unless your specific loan scheme waives it, interest accrues throughout the moratorium and is added to your principal right before repayment starts, unless you choose to pay it as it accrues.

Should I pay the interest during my course if I can afford to?

It can meaningfully reduce your total cost, since it prevents moratorium interest from being capitalized into a larger principal that then accrues its own interest during the entire repayment tenure.

Is there a tax benefit on education loan interest?

Yes. Under Section 80E, the full interest paid on an education loan is deductible with no upper limit, for up to 8 years from when repayment starts, a more generous benefit than the capped deductions on home loans.

Does the moratorium cover my whole course, or just part of it?

It typically covers your full course duration plus a grace period afterward (commonly 6–12 months), but the exact terms depend on your specific lender and loan scheme.

Is this financial advice?

No. This tool provides indicative estimates based on your assumptions. Consult your lender or a certified financial advisor before making borrowing decisions.