Plan financing for higher studies in India or abroad. See your EMI, total interest, and the impact of the moratorium period before you apply.
payable every month
You may be eligible for up to ₹8,00,000
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7 years
| Year | Principal Paid | Interest Paid | Total Paid | Balance |
|---|---|---|---|---|
| 1 | ₹80,346 | ₹84,029 | ₹1,64,375 | ₹7,19,654 |
| 2 | ₹89,644 | ₹74,732 | ₹1,64,375 | ₹6,30,010 |
| 3 | ₹1,00,017 | ₹64,358 | ₹1,64,375 | ₹5,29,993 |
| 4 | ₹1,11,591 | ₹52,784 | ₹1,64,375 | ₹4,18,402 |
| 5 | ₹1,24,504 | ₹39,871 | ₹1,64,375 | ₹2,93,898 |
| 6 | ₹1,38,912 | ₹25,464 | ₹1,64,375 | ₹1,54,986 |
| 7 | ₹1,54,986 | ₹9,389 | ₹1,64,375 | ₹0 |
An education loan funds tuition, living costs, and travel for higher studies in India or overseas. Most come with a moratorium — you start repaying after your course plus a grace period. Use this calculator to estimate your post-study EMI and total interest.
Repayment uses the reducing-balance formula: EMI = P × r × (1+r)^n / ((1+r)^n − 1). During the moratorium (course duration plus 6–12 months), interest may accrue and be added to your principal if not serviced.
Education loans in India range from 8.5% to 14% p.a. Under Section 80E, the entire interest paid is tax-deductible for up to 8 years from the start of repayment, with no upper limit.
Loans up to ₹4 lakh need no collateral; above ₹7.5 lakh usually require security or a guarantor. A parent or guardian co-applicant is mandatory for most education loans.
It's the holiday from EMI payments during your course plus a grace period of 6–12 months. Servicing simple interest during this time reduces your post-study EMI significantly.
Lenders fund up to ₹50 lakh for studies abroad and ₹20–30 lakh for studies in India, covering tuition, living expenses, travel, and equipment, subject to the institution and course.
Yes. Section 80E allows a deduction on the full interest paid for up to 8 years. This applies to loans for yourself, your spouse, your children, or a student you are a legal guardian of.
Talk to your lender before missing an EMI — many offer a one-time tenure extension or a short grace period. Servicing at least the interest protects your credit score.