Student Loan Calculator
Estimate education loan EMIs, total interest and the repayment timeline.
Education loans in India typically charge 9–13% with a moratorium covering the course plus 6–12 months — but interest accrues during the moratorium. On a ₹10 lakh loan at 10.5% over 7 years, the EMI is about ₹16,900. Paying even the interest during the moratorium saves a lot later.
How to use the student loan calculator
- Enter the education loan amount.
- Set the rate and repayment tenure.
- See EMI and total interest cost.
Student Loan Calculator — FAQs
What is the moratorium period?
The course duration plus 6–12 months after, during which you needn’t pay EMIs. But interest keeps accruing — unless you voluntarily service it.
Is education loan interest tax-deductible?
Yes — under Section 80E, the entire interest paid is deductible for 8 years with no upper limit. There’s no deduction on principal.
Do I need collateral?
Loans up to ₹7.5 lakh generally need no collateral; above that, banks usually ask for security or a co-borrower.
What is a good rate for education loans?
9–13% for domestic studies; premier institutes often get preferential rates. A girl child or premier-institute concession can shave 0.5%.
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