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Education loan EMI calculator
Plan repayments for a course in India or abroad, from the first EMI after the moratorium to the last.
How study loans are repaid
Most education loans give a moratorium for the course plus six months to a year. Interest usually accrues during that time and is added to the loan if unpaid, so the amount you repay from can be higher than you borrowed. Enter that higher figure above for a realistic EMI. ₹15 lakh at 10% over 10 years is about ₹19,823 a month.
Paying the interest during the moratorium, even partly, keeps the loan from growing.
Questions
Is education loan interest tax-deductible?
Under the old regime, the full interest is deductible under Section 80E for up to eight years from the start of repayment, for higher education of yourself, your spouse or children.
Do I need collateral?
Many banks lend smaller amounts without collateral, often under a government credit guarantee scheme; larger loans usually need security or a co-borrower.