Education Loan EMI Calculator
Real EMI after the moratorium period, with interest that accrues during your course. Most calculators ignore this. Yours starts ₹3-5L higher than the loan you borrowed.
Your numbers
Your result
You borrow ₹30 lakh, but interest accrues at 10.5% for 36 months (course + grace). The loan you actually start repaying is ₹41.05 lakh, not ₹30 lakh. EMI: ₹55,393 over 10 years. Total interest over the life of the loan: ₹36.47 lakh.
- Original loan amount
- ₹30 lakh
- Interest accrued during moratorium
- ₹11.05 lakh
- Principal at start of repayment
- ₹41.05 lakh
- Monthly EMI
- ₹55,393
- Total interest paid
- ₹36.47 lakh
- Total amount repaid
- ₹66.47 lakh
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The 80E tax deduction that almost nobody uses
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PSU bank vs NBFC for education loans
- PSU banks (SBI, BoB, Canara): 9-11% interest, slower processing (3-8 weeks), require collateral above ₹7.5 lakh, but cheapest over the life of the loan.
- NBFCs (HDFC Credila, Avanse, Auxilo, InCred): 11-14% interest, faster processing (1-2 weeks), often no collateral up to higher amounts, but expensive.
- Public sector banks abroad: for foreign study, some students get USD-denominated loans at lower rates (4-7%), but carry currency risk.