Monthly Repayment
Investing in education is investing in your future. Whether you are planning to pursue an MBA, Engineering, or Medical degree in India or study abroad, an Education Loan bridges the financial gap. However, once you complete your course and the moratorium period ends, repayment begins. Our Education Loan EMI Calculator helps you calculate the EMI you will need to pay after your grace period. This allows students and parents to plan their finances early, ensuring the loan burden is manageable once the student starts earning.
Supports calculations for large loan amounts (up to ₹1 Cr) typical for foreign universities.
Estimate the salary you will need after graduation to comfortably afford the EMI.
The interest component shows you the potential deduction under Section 80E.
Check affordability for tenures up to 15 years, which is common for student loans.
Calculate on your phone while researching colleges or visiting banks.
The moratorium period (or repayment holiday) is the time during your course plus 6-12 months after (or until you get a job), where you don't have to pay EMIs. However, simple interest is usually calculated during this period and added to the principal.
Yes! Under Section 80E of the Income Tax Act, you can claim a deduction on the entire interest amount paid for an education loan. There is no upper limit on the amount, and it can be claimed for up to 8 years.
Usually, loans up to ₹4 Lakhs do not require collateral. Loans between ₹4 Lakhs and ₹7.5 Lakhs may require a third-party guarantor. Loans above ₹7.5 Lakhs typically require tangible collateral (like property or FDs).
Education loans generally cover tuition fees, examination fees, library fees, cost of books/equipment, travel expenses (for study abroad), and hostel/living expenses.
