What is Education Loan EMI?
The Education Loan EMI Calculator estimates monthly installments for student loans in India, accounting for the moratorium (grace) period during which interest accrues but no EMI is required.
Indian banks offer education loans up to ₹20L without collateral, and higher amounts with collateral. Interest paid on education loans is tax deductible under Section 80E (no upper limit) for up to 8 years.
Formula
Interest during moratorium = Loan × (1 + monthly rate)^moratorium months − Loan Effective Loan = Original Loan + Moratorium Interest EMI = Effective Loan × r × (1+r)^n / ((1+r)^n − 1) Bank Rates (2025-26): SBI: 8.50% onwards Bank of Baroda: 8.85% HDFC Credila: 9.50% Axis Bank: 9.70%
How to use this Education Loan EMI Calculator?
1. Enter loan amount. 2. Set interest rate. 3. Choose repayment tenure (after moratorium). 4. Set moratorium period (course duration + 6-12 months). 5. See EMI and total cost including moratorium interest.