Education Loan Calculator
Calculate your education loan EMI, total interest and total repayment. Plan your study loan in India or abroad with loan amount, rate and tenure.
Formula last reviewed 4 August 2026 · How we verify our calculators
Monthly EMI
- Total interest
- ₹12,38,440
- Total payment
- ₹32,38,440
Updates live as you type
Frequently asked questions
Most education loans offer a moratorium covering the course duration plus six to twelve months. EMIs typically start after this period, once the student has time to find a job. This calculator estimates the EMI for the repayment phase.
Usually yes — simple interest accrues during the moratorium. You can pay it as it accrues to reduce the burden, or let it capitalise into the principal, which increases later EMIs.
Yes. Under Section 80E, the interest paid on an education loan is fully deductible from taxable income for up to eight years, with no upper limit on the amount.
Loans up to a certain limit are often collateral-free, especially for premier institutions. Larger amounts may require security or a co-applicant guarantor.
The EMI you'll actually pay might exceed what you borrowed today
Run ₹20,00,000 at 10.5% over a 10-year repayment tenure and this calculator returns a monthly EMI of ₹26,987, totalling ₹12,38,440 in interest — roughly 62% of the loan amount. But that figure covers only the repayment phase. Most education loans carry a moratorium — the course duration plus a further six to twelve months — during which simple interest still accrues. If that interest capitalises into the principal rather than being paid as it accrues, your actual starting balance when repayment begins is higher than what you originally borrowed, and this calculator's EMI would be understating your real one.
The moratorium decision most students never think about
You generally get a choice during the moratorium: pay the interest as it accrues, or let it capitalise and get added to the principal. Paying it off as you go, even in small amounts while still studying, keeps your eventual EMI closer to the number this calculator shows. Letting it capitalise is easier in the moment but means that accrued interest starts earning its own interest the day repayment begins — a quiet compounding effect that inflates the total cost beyond what the headline rate suggests.
The deduction that outdoes almost every other loan benefit
Section 80E lets you deduct the entire interest paid on an education loan from taxable income for up to eight years, with no upper limit on the amount — unusually generous next to the capped deductions most other loans offer. When comparing lenders, look past the interest rate alone: public sector banks often price loans tied to premier institutions lower than private lenders or NBFCs would, and whether collateral or a co-applicant guarantor is required can vary sharply by loan amount and institution. Size the EMI you plan around a realistic starting salary in your field, not an optimistic one — the repayment clock starts running whether or not the job offer has landed yet.