Calculate your exact monthly instalment, total interest, and total payable amount — instantly. Adjust for moratorium period too.
Move the sliders to see your EMI update in real time
| Loan Amount | Interest Rate | Tenure | Monthly EMI | Total Interest | Total Payable |
|---|---|---|---|---|---|
| ₹5,00,000 | 10% | 7 years | ₹8,276 | ₹1,95,136 | ₹6,95,136 |
| ₹10,00,000 | 10% | 10 years | ₹13,215 | ₹5,85,800 | ₹15,85,800 |
| ₹20,00,000 | 10% | 12 years | ₹23,953 | ₹14,49,216 | ₹34,49,216 |
| ₹30,00,000 | 10% | 15 years | ₹32,238 | ₹28,02,840 | ₹58,02,840 |
| ₹50,00,000 | 11% | 15 years | ₹56,784 | ₹52,21,120 | ₹1,02,21,120 |
| ₹75,00,000 | 12% | 15 years | ₹90,012 | ₹87,02,160 | ₹1,62,02,160 |
The EMI formula used by all Indian banks is:
Where P = principal loan amount, r = monthly interest rate (annual rate ÷ 12 ÷ 100), and n = loan tenure in months. During the moratorium period, simple interest accrues and is added to P before EMI calculation begins.
Extending tenure from 10 to 15 years reduces monthly EMI significantly — though total interest paid increases. Use the calculator to find your comfort zone.
If you can afford it, paying simple interest during the moratorium period prevents it from compounding and reduces your final EMI substantially.
A 1% lower interest rate on a ₹20 lakh loan over 12 years saves ₹1.4 lakhs in total interest. Our free bank comparison finds you the lowest rate.
Education loan EMI is calculated using: EMI = P × r × (1+r)^n / [(1+r)^n - 1], where P is principal, r is monthly interest rate (annual rate ÷ 12 ÷ 100), and n is tenure in months. Use the calculator above for instant results.
For a ₹10 lakh education loan at 10% p.a. for 10 years (with 1-year moratorium), the EMI is approximately ₹13,215 per month. Adjust the sliders in our calculator above for your specific loan parameters.
The moratorium period is the time during which you don't pay EMIs — typically course duration plus 6–12 months. Simple interest accumulates during this time and is added to the principal. Full EMIs begin after the moratorium ends.
Yes. Most banks allow prepayment of education loans without penalty after the moratorium period. Prepaying even a small amount reduces your outstanding principal and can significantly lower future EMIs or reduce tenure.
Yes. Education loans in India are typically disbursed at a fixed EMI based on the reducing balance method. The EMI remains constant but the interest portion decreases and the principal portion increases with each payment.
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