Education loan EMI calculator
Plan repayments on a student loan, moratorium and all.
Quick answer
An education loan EMI / repayment calculator estimates monthly instalments on student loans in India after the moratorium. Education loans usually cost less than personal loans, and interest is tax-deductible under Section 80E for up to 8 years — run amount, rate, and tenure before you sign.
Monthly EMI
On a ₹20L loan at 10% over 120 months.
- Total interest
- ₹11,71,618
- Total you repay
- ₹31,71,618
- Interest is
- 59% of the loan
Rates & rules checked on 19 July 2026 · based on FY 2025-26 (AY 2026-27).
What this tells you
An education loan EMI calculator estimates what you will pay each month after the course moratorium ends — tuition, living costs, and interest that may have accrued while you studied.
Indian education loans are usually cheaper than personal loans, often with a study + 6–12 month repayment holiday. Interest paid is deductible under Section 80E with no upper limit for up to 8 years (old tax regime).
Banks and NBFCs price differently for India vs abroad courses, collateral, co-borrower income, and credit score. Run EMI before you sign — a 1% rate difference on a ₹20L loan is lakhs over the tenure.
Simple-interest marketing during study can hide how much capitalises into principal. Model the full repayment phase, not just the ‘no EMI while studying’ pitch.
How it's calculated
We compute EMI on the standard reducing-balance formula: EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is principal at repayment start, r is monthly rate, and n is months.
Enter the amount you expect to owe when repayment begins (disbursed principal + capitalised interest if any), the interest rate, and tenure. Compare shorter tenures (higher EMI, less interest) vs longer ones.
Common questions
- What is an education loan repayment calculator?
- It estimates monthly EMI after the moratorium — once you start paying principal and interest. Use it with the amount you will owe at repayment start, not just the tuition sticker price.
- When do education loan EMIs start in India?
- Usually after a moratorium covering the course period plus 6–12 months. Some lenders charge simple interest during study; unpaid interest may be added to principal before EMIs begin — check your sanction letter.
- What is Section 80E?
- Section 80E lets you deduct the entire interest paid on an education loan from taxable income for up to 8 years under the old regime, with no upper rupee limit. Principal repayment is not covered by 80E.
- Is education loan EMI tax deductible?
- Only the interest portion under Section 80E (old regime, up to 8 years). EMI itself is not fully deductible — split interest vs principal on your loan statement when filing ITR.
- Education loan vs personal loan for studies?
- Education loans usually have lower rates, longer tenures, a study moratorium, and 80E interest deduction. Personal loans start EMIs immediately at higher rates — use them only if education loan sanction fails.
- How do I lower education loan EMI?
- Negotiate rate with co-borrower income/collateral, choose a longer tenure only if cash-flow forced, and prepay when you get a joining bonus — floating education loans to individuals often have no or low prepayment penalty. Run numbers here before you commit.
Jargon, explained
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Sources
For general education, not personalised financial advice. Verify current rates and rules before acting — tax laws and interest rates change.