Education Loan Calculator
Plan your study loan with moratorium period. See interest accrued during study and monthly EMI after graduation.
Interest accrues during study + moratorium period on simple interest basis.
Education loans are structured differently from other loans — they include a moratorium period during which repayment does not begin. This moratorium typically covers the study period plus 6 to 12 months after course completion (to allow time for employment). During this period, interest accrues on the outstanding principal. This calculator accounts for the moratorium period to show you the actual outstanding amount when repayment begins and the resulting EMI — which is higher than it would be for a plain EMI on the original amount.
📋 How to Use This Calculator
Enter the loan amount, annual interest rate (education loans in India range from 8–14% p.a.), study period in years, and moratorium period after graduation in months. Then enter your planned repayment tenure. The calculator shows: interest accrued during the moratorium, total outstanding at repayment start, monthly EMI, total interest paid over repayment, and total amount repaid. Adjust the repayment tenure to see how a longer tenure lowers EMI but increases total interest.
💡 Key Facts & Information
Under the Indian Banks' Association (IBA) model, education loans up to ₹4 lakh need no collateral; ₹4–7.5 lakh require a co-borrower; above ₹7.5 lakh require tangible collateral. Government schemes like the Central Sector Interest Subsidy (CSIS) cover the interest for economically weaker section students during the moratorium. The simple interest calculation during moratorium: Interest = P × r × t/12 (where t is total moratorium months). After moratorium, the accrued interest is added to principal and the resulting amount is amortised over the repayment tenure.