Education loan EMI calculator
See the monthly EMI, the total interest and what the moratorium really costs — with the year-by-year balance, so nothing is a surprise when the bank's schedule arrives.
for 120 months, starting after a 30-month moratorium
What the moratorium costs
Over the 30-month moratorium, interest of about ₹15.51 lakh falls due. Here is the same loan both ways.
| Let it build up | Pay as you go | |
|---|---|---|
| Monthly EMI | ₹1,00,680 | ₹79,747 |
| Total interest | ₹61.72 lakh | ₹52.11 lakh |
| Total repaid | ₹1.21 crore | ₹1.11 crore |
Letting the interest build up costs ₹9.61 lakh more in total, in return for nothing to pay while you study. Paying it needs about ₹51,713 a month during the course.
Repayment, year by year
| Year of repayment | Principal paid | Interest paid | Balance left |
|---|---|---|---|
| Year 1 | ₹4.46 lakh | ₹7.62 lakh | ₹70.16 lakh |
| Year 2 | ₹4.95 lakh | ₹7.13 lakh | ₹65.21 lakh |
| Year 3 | ₹5.49 lakh | ₹6.59 lakh | ₹59.71 lakh |
| Year 4 | ₹6.1 lakh | ₹5.98 lakh | ₹53.61 lakh |
| Year 5 | ₹6.77 lakh | ₹5.31 lakh | ₹46.84 lakh |
| Year 6 | ₹7.52 lakh | ₹4.56 lakh | ₹39.32 lakh |
| Year 7 | ₹8.35 lakh | ₹3.73 lakh | ₹30.98 lakh |
| Year 8 | ₹9.27 lakh | ₹2.81 lakh | ₹21.71 lakh |
| Year 9 | ₹10.29 lakh | ₹1.79 lakh | ₹11.42 lakh |
| Year 10 | ₹11.42 lakh | ₹65,998 | ₹0 |
An illustration, not a quote. Rates and terms differ by lender, and there may be processing fees or a different treatment of the moratorium — get the exact terms in writing before you decide.
Questions
What is a moratorium period on an education loan?
It is the study period plus a grace period (often six months to a year after the course ends) during which you do not have to pay EMIs. Interest usually still builds up during it, which is why the loan is larger when repayment begins unless you pay the interest as you go.
Should I pay the interest during the moratorium?
Paying it keeps the loan at the amount you borrowed and lowers the total you repay. The calculator shows both, side by side, so you can see the difference for your own numbers. Many students cannot pay during a full-time course, and that is a reasonable thing to plan for rather than avoid.
How is the EMI calculated?
It is the standard reducing-balance formula: the same monthly amount for the whole repayment term, with more of each payment going to interest at first and to principal later. The year-by-year table shows how the balance falls.
Are these the terms my bank will offer?
No — this is an illustration. Interest rates differ by lender, by the university and by whether there is a co-applicant or collateral, and there can be processing fees. Use it to compare scenarios, then get the exact terms in writing from the lender.