Education Loan EMI Calculator
Calculate education loan EMI after the moratorium period, including the interest that accrues while you study.
What is the Education Loan EMI Calculator?
Education loans usually come with a moratorium — the course duration plus 6–12 months — during which you don’t pay EMIs. Interest still accrues, typically as simple interest, and is added to the loan unless you pay it.
How does it work?
If interest is added to the loan, the calculator adds simple interest for the moratorium to the principal and computes the EMI on that higher amount. If you pay interest monthly while studying, the principal stays unchanged.
Formula
Moratorium interest = P × rate × moratorium years ÷ 100
EMI on (P + moratorium interest) over the repayment tenure
Example
₹10 lakh at 10% with a 4-year moratorium: ₹4 lakh interest accrues, so repayment starts on ₹14 lakh. Over 7 years the EMI is about ₹23,242.
Frequently asked questions
Is education loan interest tax-deductible?
Yes, under the old tax regime, the entire interest paid is deductible under Section 80E for up to 8 years from the start of repayment. There is no upper limit.
Should I pay interest during the moratorium?
If you can, paying interest during studies keeps the principal from growing and reduces your future EMI noticeably.
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