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Education Loan EMI Calculator

Calculate education loan EMI with moratorium period (study + grace period before EMI starts)

🎓Education Loan Details

₹

India: Up to ₹15L • Abroad: Up to ₹1.5 Cr

India: 8.5-12% • Abroad: 10-13% • Govt scheme: 7.5-9%

No EMI during moratorium. Interest accumulates and adds to principal.

📊EMI Breakdown

Monthly EMI (after moratorium)
₹46,500
Original Loan₹20,00,000
Interest in Moratorium₹8,40,000
Effective Loan₹28,40,000
Total Interest₹19,40,000
Total Cost₹39,40,000
Moratorium4 years

Frequently Asked Questions

What is moratorium period in education loan? +
It's the duration during which you don't pay EMI = course duration + 1 year grace period. Example: 4-year engineering = 5-year moratorium. BUT interest accumulates during this period and is added to your principal! Tip: Pay simple interest during moratorium to reduce total cost.
Tax benefit on education loan? +
Section 80E: 100% interest paid is tax deductible (no upper limit!). Available for 8 years OR till loan repaid (whichever earlier). Only INTEREST qualifies, not principal. Loan must be from bank/approved institution. For self, spouse, children, or legal ward.
Education loan eligibility? +
Indian citizen, secured admission to recognized institution. Below ₹4L: No collateral, no margin. ₹4L-₹7.5L: 5% margin, third-party guarantee. Above ₹7.5L: 15% margin (5% for premier institutes), collateral required. Co-applicant needed (parent/spouse).
Government subsidy schemes? +
CSIS (Central Sector Interest Subsidy): For families earning <₹4.5L, full interest subsidy during moratorium. PADHO PARDESH: For minorities. DR. Ambedkar Scheme: For OBC/EBC. Vidya Lakshmi Portal: One-stop application for 13+ banks.
Can I pay simple interest during moratorium? +
YES! Most banks allow voluntary simple interest payment. Pros: Reduces total cost by lakhs, gets 1% interest concession from many banks. Cons: Burden during studies. If parents can pay, definitely opt for it. Saves significant money over loan tenure.
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Important Financial Disclaimer

This calculator is for informational purposes only. Results are estimates and should NOT be considered as financial advice.

  • 💼 Consult your bank or financial advisor before any loan decision.
  • 📊 Bank rates shown are indicative. Your actual rate depends on credit score, income, employment.
  • 📋 Calculations may not include processing fees, GST, prepayment charges, late fees, insurance.
  • ⚖️ Loan eligibility criteria vary across banks. Check official website for current terms.
  • 🔄 Interest rates change frequently based on RBI repo rate. Verify before applying.

By using this calculator, you agree that KaamKaTool.in is not liable for any financial decisions or losses based on this information.

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