Education Loan EMI Calculator
Plan college education loan repayments, factoring in study periods and moratoriums.
Study period + 1 Year moratorium. Interest accumulates during this time.
Monthly Loan EMI₹17,744
Principal Amount₹10,00,000
Interest Payable₹11,29,274
Total Bill:₹21,29,274
Breakdown
Principal Amount47.0%
Interest Cost53.0%
How This is Calculated (Formula Transparency)
Simple interest compounds during the study/moratorium period. The accumulated interest is added to the principal to form the new P, which is then amortized standardly.
Concept: Moratorium Interest = ₹20L * 10.5% * 3 = ₹6,30,000. New Principal = ₹26,30,000. Repayment: n = 120 months, r = 10.5 / 12 / 100. EMI = ₹35,463.
Worked Example Case Study
Scenario: Loan of ₹20,00,000 at 10.5% interest, with a 3-year study moratorium and 10-year repayment.
Detailed Calculation: Moratorium Interest = ₹20L * 10.5% * 3 = ₹6,30,000. New Principal = ₹26,30,000. Repayment: n = 120 months, r = 10.5 / 12 / 100. EMI = ₹35,463.
Result Outcome: Monthly EMI: ₹35,463. Total Interest (incl. moratorium): ₹16,25,584.
Assumptions & Rules
- Moratorium period consists of Course Duration + 1 Year (standard in India).
- Simple interest is charged during moratorium.
- Calculations are compliant with laws and rates as of FY 2025-26 (AY 2026-27).
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