Education Loan Amount (Rs)
1 Lakh50 Lakhs
Interest Rate (% per annum)
815
Repayment Tenure (Years)
115
Principal Total Interest
What is an Education Loan EMI Calculator?
An Education Loan funds higher studies — in India or abroad — and typically comes with a moratorium period (no EMI payments during the course and a short grace period after). This calculator estimates your monthly EMI once regular repayment begins.
Education loans often have longer repayment tenures than other loans, since repayment usually starts only after the student begins earning. Estimating the EMI in advance helps students and parents plan how the loan will fit into future income.
How the EMI is Calculated
EMI = P × r × (1 + r)n / [ (1 + r)n − 1 ]
P Loan (principal) amount
r Monthly interest rate (annual rate ÷ 12)
n Total number of monthly instalments (loan tenure in years × 12)
Note: Most education loans include a moratorium period during the course plus 6–12 months after, during which no EMI is due (though simple interest may still accrue). This calculator estimates the EMI for the regular repayment phase only, starting from when EMIs actually begin.
Example: A Rs. 10,00,000 education loan at 10% per annum over 10 years results in an EMI of approximately Rs. 13,215 per month, with total interest of about Rs. 5,85,800 over the repayment period.
Frequently Asked Questions
What is an Education Loan EMI calculator?
It estimates the monthly installment for an education loan based on the principal, interest rate, and repayment tenure.
How is Education Loan EMI calculated?
EMI = [P x r x (1+r)^n] / [(1+r)^n - 1], the standard reducing-balance EMI formula used for most loans.
Does the calculator account for the moratorium period?
No, it calculates EMI for the standard repayment period only. If your loan has a moratorium (a repayment holiday during your studies), check with your lender for how interest accrues separately during that period.
How does tenure affect the EMI amount?
A longer tenure reduces the monthly EMI but increases the total interest paid over the life of the loan.
Is the EMI shown by this calculator exact?
It's an estimate; the actual EMI may differ based on the lender's specific terms, processing fees, and interest calculation method.