Education Loan EMI Calculator
Estimate your monthly EMI, total interest and full repayment schedule — with proper moratorium-period handling that most basic calculators skip.
Course duration + grace period (no EMI during this time).
The EMI formula
- P = principal (loan amount, plus any capitalised moratorium interest)
- R = monthly interest rate = annual rate ÷ 12 ÷ 100
- N = number of monthly instalments = tenure in years × 12
The education-loan twist: during the moratorium, simple interest accrues on the disbursed amount. If you don’t pay it, it is capitalised (added to P), so your EMI is calculated on a larger base. This calculator handles that automatically — toggle “service interest during moratorium” to see the difference.
Worked examples
| Scenario | Loan | Rate | Tenure | Approx EMI* |
|---|---|---|---|---|
| Domestic UG | ₹5 L | 9% | 7 yrs | ~₹8,040 |
| Domestic PG | ₹10 L | 9.5% | 10 yrs | ~₹12,940 |
| Study abroad | ₹40 L | 10.5% | 12 yrs | ~₹49,260 |
| Premier institute | ₹20 L | 8.5% | 10 yrs | ~₹24,800 |
*EMI on principal only, excluding capitalised moratorium interest. Use the calculator above for your exact figures.
Lower your EMI & total cost
- Service interest during study — stops it capitalising and can earn a 1% rate concession.
- Pick a longer tenure for a lower EMI (but higher total interest), or a shorter one to save interest.
- Prepay when you can — most education loans have no prepayment penalty.
- Compare rates first — see our interest rate comparison.
- Use government schemes — the 3% PM Vidyalaxmi subvention lowers your effective rate.
Compare lenders before you lock a rate.
Best Education Loans →Frequently asked questions
How is education loan EMI calculated?
Using EMI = [P×R×(1+R)^N]/[(1+R)^N−1]. Interest accrued during the moratorium is added to P unless you service it.
Is interest charged during the moratorium?
Yes — simple interest accrues. Paying it during study keeps your EMI lower and may earn a rate concession.
Can I change my EMI later?
You can prepay to reduce the outstanding (usually penalty-free) or request tenure changes, subject to the bank's policy.
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Disclaimer: This calculator gives indicative estimates for planning only. Actual EMI, interest accrual and moratorium rules vary by lender. Verify with your bank. Educational content, not financial advice.