Loan EMI
Education Loan Calculator
Calculate EMIs and total cost of education loans for undergraduate or postgraduate studies.
Formula
EMI = P × [r(1+r)^n] / [(1+r)^n - 1]
Loan Amount, Rate %, Tenure (months)
Results
Enter values above to see results
EMI = P × [r(1+r)^n] / [(1+r)^n - 1]
Education loan EMIs typically start after the moratorium period (course duration plus 6-12 months). Interest rates are lower than personal loans. Under Section 80E, interest on education loans is fully deductible from taxable income.
Education loan of ₹20,00,000 at 10% p.a. for 10 years
Input Values
Calculation
Applying the formula with the input values above:
Results
Monthly EMI
₹26,494.00
Total Payment
₹31,79,280.00
Total Interest
₹11,79,280.00
- 1Enter the total education loan amount required (tuition + living expenses).
- 2Input the applicable interest rate (8-10% p.a. for most banks).
- 3Select the loan tenure (usually course duration + 1 year moratorium + 5-15 years repayment).
- 4EMI starts after the moratorium period (after course completion + 6 months).
- 5Under Section 80E, interest paid on education loan is fully deductible from income.
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