Calculate your education loan EMI. Note: most education loans have a moratorium period (course duration + 6-12 months) before EMI starts; this calculator shows the EMI once repayment begins.
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View bank rate comparisonEducation loans have a unique feature most other loans don't: a moratorium period, during which you're not required to pay EMIs. This typically covers your course duration plus an additional 6-12 months (to allow time to find a job), though interest may still accrue during this period on some plans.
The EMI shown by this calculator applies once regular repayment begins, after the moratorium ends. Some lenders offer to let you pay just the interest during the moratorium (simple interest) to reduce the total interest burden later — worth asking about if you can afford it.
It depends on the lender. Some require no payment at all (interest capitalises into the principal), while others let you optionally pay just the accruing interest to reduce your final loan burden.
Yes, for most education loans (especially above ₹4 lakh) banks require a parent or guardian as co-applicant/co-borrower, since the student typically has no income yet.
Yes — under Section 80E, the entire interest paid on an education loan is deductible from taxable income, with no upper limit, for up to 8 years from when repayment starts.