Education Loan Calculator
Calculate your education loan EMI with moratorium period and see the complete repayment schedule.
Course duration + 6-12 months (no EMI, interest accrues)
Repayment Schedule (First 12 Months)
| Month | EMI | Balance |
|---|---|---|
| 1 | ₹35,932.16 | ₹2,179,967.76 |
| 2 | ₹35,932.16 | ₹2,161,293.67 |
| 3 | ₹35,932.16 | ₹2,142,471.75 |
| 4 | ₹35,932.16 | ₹2,123,500.82 |
| 5 | ₹35,932.16 | ₹2,104,379.70 |
| 6 | ₹35,932.16 | ₹2,085,107.21 |
| 7 | ₹35,932.16 | ₹2,065,682.14 |
| 8 | ₹35,932.16 | ₹2,046,103.29 |
| 9 | ₹35,932.16 | ₹2,026,369.45 |
| 10 | ₹35,932.16 | ₹2,006,479.37 |
| 11 | ₹35,932.16 | ₹1,986,431.84 |
| 12 | ₹35,932.16 | ₹1,966,225.59 |
EMI in Other Currencies
Education Loan Guide
Education loans help students finance their higher education, covering tuition fees, books, accommodation, and other expenses. In India, banks offer education loans for both domestic and international studies.
Understanding Moratorium Period
The moratorium period is the time during which you don't need to pay EMIs, typically covering the course duration plus 6-12 months after course completion. However, interest continues to accrue during this period and is added to the principal, increasing your total loan amount.
Tax Benefits
Under Section 80E of the Income Tax Act, the entire interest paid on education loans is tax deductible (no upper limit). This deduction is available for up to 8 years from the year you start repaying. Only the interest component is deductible, not the principal.
Tip: Pay Interest During Moratorium
If possible, pay at least the interest during the moratorium period. This prevents interest from compounding on interest and significantly reduces your total repayment amount.