Education Loan EMI Calculator
Estimate monthly EMI and total interest for education loans in India
Unit: ₹
Unit: %
Unit: months
Monthly EMI
₹20,240
Total Interest
₹9,28,830
Total Repayment
₹24,28,830
How this calculator works
Education loan EMI calculator — monthly installment, total interest, and repayment for student loans in India.
EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]
Quick tips
- •Interest paid on education loans is fully deductible under Section 80E for up to 8 years.
- •PSU banks offer rates between 9-10.75% while NBFCs charge 10.5-13.5%.
- •Paying even small amounts during the moratorium period prevents interest capitalization.
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Education Loan EMI Calculator
This education loan EMI calculator helps students and parents estimate the monthly installment and total interest cost for education financing in India.
Formula: EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]
- Interest paid on education loans is fully deductible under Section 80E for up to 8 years.
- PSU banks offer rates between 9-10.75% while NBFCs charge 10.5-13.5%.
- Paying even small amounts during the moratorium period prevents interest capitalization.
Frequently Asked Questions
Is education loan interest tax-deductible?
Yes. Under Section 80E, the entire interest component is deductible with no upper limit for up to 8 assessment years from the year repayment starts.
When does EMI start for education loans?
EMI starts after the moratorium period, which is typically course duration plus 6-12 months after completion.