Home/ Tools/ Education Loan EMI Calculator
🎓 Free Education Loan Planning Tool

Education Loan EMI Calculator

Education loan calculator — instantly compute your monthly EMI, total interest payable, and a full year-by-year repayment schedule. Plan your student loan before, during, and after your course.

Our Education Loan EMI Calculator helps students and parents plan higher education funding with complete confidence. Enter your loan amount, interest rate, and repayment tenure to get your exact monthly EMI, principal vs interest split, and a year-by-year repayment breakdown — all in real time.

Education Loan Calculator
Enter your loan details — sliders update results instantly
Loan Amount ₹10,00,000
₹
₹50K₹75L
Interest Rate (p.a.) 9.50%
% per annum
5%20%
Loan Tenure 7 Years
Years
1 Yr15 Yrs
Processing Fee (optional) 0.50%
% of loan
0%3%
↺ Reset to defaults
Monthly Repayment EMI
₹ 43,391
for 84 months after moratorium
@ 8.50% p.a.
Principal Amount
₹50,00,000
Original loan borrowed
Total Interest
₹54,13,840
Over full loan tenure
Processing Fee
₹25,000
One-time bank charge
Total Payment
₹1,04,13,840
Principal + Interest + Fee
Payment Breakdown
Total ₹1.04Cr
Principal 48.0%
Interest 51.6%
Processing Fee 0.4%
Amortization Schedule
Year Principal (₹) Interest (₹) Balance (₹)
🎓
Pay Interest During Course
Paying only the simple interest during your moratorium period prevents it from being capitalised — reducing your total loan burden significantly after graduation.
📉
Education Loan Rates from 8.15%
Government banks offer education loans from 8% p.a. Women borrowers get an additional 0.5% concession.
🧾
Section 80E — Full Interest Deduction
Claim 100% of education loan interest paid under Section 80E — no upper cap — for up to 8 consecutive years from the year repayment begins.
Know Before You Borrow

What is an Education Loan EMI Calculator?

An Education Loan EMI Calculator is a free, instant online tool that tells you exactly how much you'll repay every month after your course ends — so you can plan your finances before taking on a student loan.

EMI stands for Equated Monthly Instalment — the fixed amount you repay to your lender every month during the repayment phase of your education loan. It covers both the principal and interest, blended into one predictable payment.

Our education loan calculator processes three inputs — loan amount, interest rate, and repayment tenure — and instantly outputs your monthly EMI, total interest outgo, processing fee impact, and a full year-by-year amortization schedule showing your outstanding balance at the end of each year.

🎓 For a ₹10 lakh education loan at 9.5% p.a. over 7 years, the Education Loan EMI Calculator gives you a monthly EMI of ₹16,215 — with a total interest outgo of ₹3.62 lakhs over the repayment tenure.

Step by Step

How Does the Education Loan EMI Calculator Work?

1
Enter Your Loan Amount
Input the total education loan amount you need — covering tuition fees, hostel, books, and living expenses. Most banks fund up to 100% of tuition for premier institutions.
2
Set the Interest Rate
Enter the annual interest rate quoted by your bank. Indian education loan rates typically range from 8.15% to 15.5% p.a. Government banks offer lower rates than private lenders.
3
Choose Your Repayment Tenure
Select how many years you want to repay after the moratorium. Most education loans allow 5–15 years. A longer tenure means lower EMIs but higher total interest paid.
4
Instant Results + Repayment Schedule
The calculator instantly shows your monthly EMI, principal vs interest split, processing fee impact, and a year-by-year repayment schedule showing your outstanding balance — so you can plan loan closure strategically.
Smart Borrowing

Why Use an Education Loan Calculator Before Applying?

Before taking on a student loan that may accompany you into your first job, knowing your exact monthly repayment is critical. Here's why lakhs of students and parents across India use an education loan EMI calculator before approaching any bank:

Also explore our Home Loan EMI Calculator, Loan Eligibility Calculator, and SIP Calculator — all free on KnowAndInvest.

Reduce Your Burden

How to Reduce Your Education Loan EMI — 4 Proven Ways

Reducing your education loan EMI doesn't necessarily mean borrowing less. Use our education loan calculator to model each of these strategies and find the combination that works best for your repayment situation:

📅
Extend the Repayment Tenure
Increasing repayment tenure from 7 to 10 years can reduce your monthly EMI by 15–20%. Useful if your starting salary is modest — you can always prepay later as income grows.
💰
Pay Interest During Moratorium
Paying only the simple interest during the course + moratorium period prevents capitalisation. This directly reduces the principal on which your post-study EMI is calculated.
⬇️
Part-Prepayments from Bonuses
Using your first annual bonus or variable pay for a lump-sum prepayment dramatically reduces the outstanding principal in the early, high-interest years of repayment.
📊
Choose a Government Bank
Public sector banks like SBI, Canara, and Bank of Baroda offer education loan rates 1–3% lower than private lenders, plus additional concessions for women, SC/ST, and premier institution students.
Got Questions?

Education Loan EMI Calculator — FAQs

EMI (Equated Monthly Instalment) is the fixed amount you repay to the lender each month during the repayment phase of your education loan. It is calculated using the formula: EMI = P × r × (1+r)ⁿ ÷ [(1+r)ⁿ − 1], where P = outstanding principal (which may be higher than original loan if interest was capitalised during moratorium), r = monthly interest rate (annual rate ÷ 12 ÷ 100), and n = repayment tenure in months. The EMI remains constant throughout repayment, but the proportion going toward interest vs principal shifts each month.
The moratorium period is the time during which you are not required to repay your education loan. It typically covers the course duration plus 6 months to 1 year after the course ends (or 6 months after securing employment, whichever is earlier). During this period, interest continues to accrue on the outstanding principal. If you do not pay this interest, it is capitalised — added to your principal — which increases your total loan amount and, consequently, your EMI once repayment begins.
For studies within India, most public sector banks offer up to ₹10–20 lakhs. For studies abroad, the limit can range from ₹20 lakhs to ₹1.5 crore or more, depending on the lender and course. Loans above ₹7.5 lakhs typically require collateral (property, fixed deposit, or third-party guarantee). Under PM Vidyalakshmi and CSIS schemes, government-subsidised loans are available for economically weaker sections studying at premier institutions like IITs and NITs.
Processing fees for education loans are generally nil or minimal at public sector banks (SBI charges no processing fee under its Scholar Loan scheme). Private banks and NBFCs may charge 0.5–2% of the loan amount upfront. Our calculator shows the processing fee as a separate one-time cost so you can account for it in your total financing budget. It does not form part of the regular monthly EMI.
Under Section 80E of the Income Tax Act, you can deduct the entire interest paid on an education loan in a financial year — there is no upper limit. This deduction is available for a maximum of 8 consecutive assessment years starting from the year in which repayment begins. It applies to loans taken for the borrower, their spouse, children, or a student for whom the taxpayer is a legal guardian. Note: only interest qualifies, not principal repayment.
Yes — most public sector banks allow partial or full prepayment of education loans without any penalty charge. Private banks and NBFCs may levy a prepayment fee of 2–4% on fixed-rate loans. Making a lump-sum prepayment using your first bonus or savings in the early years of repayment can significantly reduce the outstanding principal, cutting both the remaining tenure and future interest outgo. Use the amortization table to identify the highest-impact years for prepayment.
As of 2025, public sector banks offer the most competitive rates: SBI Student Loan Scheme starts from ~8.15% p.a., Bank of Baroda Baroda Scholar from ~8.15%, and Canara Bank from ~8.50%. Women borrowers typically get a 0.5% concession. Private banks like Axis and ICICI charge 10–14%, while NBFCs like HDFC Credila and Avanse are at 11–15%. Rates vary based on institution ranking, course, collateral, and co-applicant income. Always compare effective rates including processing charges.
Our calculator uses the standard reducing-balance compound interest formula used by all scheduled banks and NBFCs in India. Results are highly accurate for fixed-rate education loans. For floating-rate loans, the actual EMI may vary if the benchmark rate changes during the tenure. Note that this calculator computes EMI on the loan amount you enter — if interest has been capitalised during the moratorium, enter the higher outstanding amount as your loan amount for an accurate post-moratorium EMI figure. Results are indicative and meant for planning.

⚠️ Disclaimer

The results generated by this Education Loan EMI Calculator are indicative and for financial planning purposes only. Actual EMI amounts may differ based on your bank's internal policies, moratorium terms, capitalisation of interest during the study period, applicable GST on fees, and any rate revisions during your loan tenure.

EMI figures assume a reducing balance method on the entered principal — the standard used by all scheduled commercial banks and NBFCs in India. Always verify final EMI figures with your lender before signing any loan agreement.

KnowAndInvest is not a bank, NBFC, or registered financial adviser. This tool is provided free of charge for educational and planning purposes under our platform's Terms of Use.

↑