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Education loan EMI calculator
Calculate your education loan EMI, total interest and total repayment, including interest that builds up during the course moratorium.
Your monthly EMI
Uses the standard reducing-balance EMI formula with simple interest during the moratorium. Banks may compound differently; confirm with your lender. Interest paid on an education loan may be deductible under Section 80E — check with your tax adviser.
How EMI is calculated
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the amount to repay, r is the monthly interest rate and n is the number of monthly instalments. Most education loans give you a moratorium — the length of the course plus 6–12 months — before EMIs begin. If you do not pay interest during that time, it is added to the loan, which raises your EMI.
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