Education Loan EMI Calculator

Plan the EMI on your education or student loan, understand the moratorium period, and see the total interest you will repay after your course.

Monthly EMI
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Total interest
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Total payable
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The EMI formula

EMI = P × R × (1 + R)N ÷ [ (1 + R)N − 1 ]

P = loan amount · R = monthly interest rate (annual ÷ 12 ÷ 100) · N = number of monthly instalments. This calculator applies the standard reducing-balance formula.

Amortization schedule

YearPrincipalInterestTotal paidBalance

How education loans differ

Education loans fund tuition and living costs, and they have one feature most loans don't: a moratorium (or holiday) period, usually covering the course duration plus a few months, during which you may not pay full EMIs. Repayment in full begins after that. Interest, however, often accrues during the moratorium, so the amount you eventually repay can be higher than the sum borrowed.

Estimating your repayment EMI

Use this calculator to model the EMI that begins once repayment starts. Enter the total amount you expect to owe at the end of the course (principal plus any accrued interest) and the rate and tenure your lender offers.

Real-world example

If you owe 1,200,000 when repayment begins, at 10.5% over 7 years, the EMI is about 20,300 a month with total interest near 500,000. Choosing a 10-year tenure lowers the EMI but adds substantially to the interest.

Tips

  • Pay simple interest during the moratorium if you can — it reduces what capitalises onto the principal.
  • A co-applicant with a strong profile can secure a lower rate.
  • Start repayment as early as your finances allow.

Frequently asked questions

It is a repayment holiday covering the course duration plus a few months. Full EMIs begin afterward, though interest often accrues during this period.

Usually yes. Interest typically accrues during the moratorium, so the amount you repay can exceed the amount borrowed unless you pay interest as it accrues.

Enter the amount owed when repayment begins, the interest rate and the tenure. The calculator returns the EMI, total interest and schedule.

Yes. It is free and runs entirely in your browser.