Education Loan EMI Calculator
ఎడ్యుకేషన్ లోన్ ఈఎంఐ కాలిక్యులేటర్
Education loan EMI calculator: the EMI after the course and the moratorium, with the interest that builds up while you study.
చదువు పూర్తయ్యాక మొదలయ్యే ఎడ్యుకేషన్ లోన్ ఈఎంఐ, మొత్తం వడ్డీ: చదువుకునేటప్పుడు పెరిగే వడ్డీతో సహా.
Your result
Monthly EMI నెలవారీ వాయిదా
17.18 thousand rupees a month
- Principalఅసలు
- ₹10,00,000
- Owed when EMIs startఈఎంఐల నాటికి బాకీ
- ₹13,00,000
- ₹10,00,000 + ₹10,00,000 × 10% × 36/12 of interest while studying
- Total interestమొత్తం వడ్డీ
- ₹10,61,551
- ₹3,00,000 while studying + ₹7,61,551.50 in the EMIs
- Total paymentమొత్తం చెల్లింపు
- ₹20,61,551
Year by year ఏడాదివారీగా
- Principal
- Interest
Use the left and right arrow keys to read each year; the table below lists every value.
Show the year-by-year table
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹79,744 | ₹1,26,411 | ₹12,20,256 |
| 2 | ₹88,095 | ₹1,18,060 | ₹11,32,161 |
| 3 | ₹97,319 | ₹1,08,836 | ₹10,34,842 |
| 4 | ₹1,07,510 | ₹98,645 | ₹9,27,332 |
| 5 | ₹1,18,768 | ₹87,388 | ₹8,08,564 |
| 6 | ₹1,31,204 | ₹74,951 | ₹6,77,360 |
| 7 | ₹1,44,943 | ₹61,212 | ₹5,32,417 |
| 8 | ₹1,60,120 | ₹46,035 | ₹3,72,297 |
| 9 | ₹1,76,887 | ₹29,268 | ₹1,95,409 |
| 10 | ₹1,95,409 | ₹10,746 | ₹0 |
Last updated : an example interest rate of 10% a year. These are examples: check your lender's current rate and charges before you borrow.
How is the education loan EMI calculated?
From three figures: the loan amount, the yearly interest rate and the tenure. Lenders charge interest each month on the balance still owed (reducing balance), so the EMI stays the same while the interest in it falls. With a loan amount P, a monthly rate r (yearly rate ÷ 12 ÷ 100) and n monthly instalments:
EMI = P × r × (1 + r) n ÷ ((1 + r) n − 1)
Example: an education loan of ₹10,00,000 at 10%, with 36 months of study before the EMIs (a two-year course and the year after it). The interest for those months, ₹3,00,000, is added to the loan, so ₹13,00,000 is owed when the EMIs start: over 10 years that is an EMI of ₹17,180, against ₹13,215 with no study period. You pay ₹10,61,551 in interest, ₹20,61,551 in all. The rate is an example: yours depends on the lender.
Education loan EMI for ₹5 lakh to ₹40 lakh
With 36 months of study at 10%, an education loan of ₹10 lakh grows to ₹13,00,000 by the first EMI: ₹17,180 a month over 10 years; for ₹20 lakh, ₹34,359. The table adds the study period's interest to each loan, as the calculator does, at an example rate of 10% a year:
| Loan | Owed when EMIs start | 7 years | 10 years | 15 years |
|---|---|---|---|---|
| ₹5 lakh | ₹6,50,000 | ₹10,791 | ₹8,590 | ₹6,985 |
| ₹10 lakh | ₹13,00,000 | ₹21,582 | ₹17,180 | ₹13,970 |
| ₹20 lakh | ₹26,00,000 | ₹43,163 | ₹34,359 | ₹27,940 |
| ₹40 lakh | ₹52,00,000 | ₹86,326 | ₹68,718 | ₹55,879 |
Good to know
- Repayment usually starts after a moratorium (the course plus 6 to 12 months). Interest runs during it: enter those months above, and the calculator adds the simple interest to the loan before working out the EMI, as banks do. Paid out fee by fee, a little less builds up than the calculator shows.
- Under the government's CSIS scheme, families earning up to ₹4.5 lakh a year pay no interest for the course and a year after it (technical and professional courses in India); under PM-Vidyalaxmi, families earning up to ₹8 lakh have 3 percentage points of the rate paid for that time, on loans up to ₹10 lakh. Ask your bank which applies.
- Under the old tax regime, the interest you pay on an education loan is deductible for up to 8 years; the new regime has no such deduction (compare the two with the income tax calculator).
Questions
Should I pay the interest while I study?
If you can. Paying it as it falls due, ₹8,333 a month on the example ("Paid monthly" above), keeps the loan at ₹10,00,000, so the EMI over 10 years is ₹13,215 instead of ₹17,180, and you pay ₹1,75,743 less interest in all.
Does a longer tenure save money?
No. A longer tenure lowers the EMI but raises the total interest. On the example, 15 years instead of 10 brings the EMI down to ₹13,970 but adds ₹4,53,024 of interest. Pick the shortest tenure whose EMI you can pay comfortably.
Can I pay the loan off early?
On floating-rate loans to individuals, RBI does not allow prepayment charges in most cases (some business loans are exceptions). Fixed-rate loans may carry them: check your loan agreement. The prepayment calculator shows the interest a part payment saves on any loan repaid in EMIs.
What next? తర్వాత ఏం చూడాలి
See all calculators →Results are estimates for planning, at the rates you enter. Check exact figures with your bank, fund house or tax adviser before you decide.
