EMI Calculator

Education loan EMI calculator

By Anchal Katyal · Written on Jun 16, 2026 · Verified on Sep 21, 2026

Work out the education loan EMI you'll pay once the course ends, and check that it fits comfortably within the salary you expect from your first job.

What you'll learn:

  • Whether EMI starts during the course
  • Why principal can exceed the fees
  • Paying interest while you study
Education Loan
Education Loan
Currency
Principal you borrow: the starting balance before interest accrues.Learn more
₹
Annual rate charged on the outstanding balance. EMI uses rate ÷ 12 each month.Learn more
%
Repayment period in months. Longer tenure lowers EMI but usually raises total interest.Learn more
mo
One-time charge as a % of the amount, usually paid upfront or cut from the payout. It does not change the EMI but adds to what you pay in total.Learn more
%
Extra payments toward principal (lump-sum or monthly). Reduce tenure usually saves more interest. Reduce EMI if you need cash-flow relief.Learn more
₹
₹
Shows what share of your monthly take-home pay goes to EMIs (FOIR). Banks usually cap all EMIs at 40% to 50% of net income.Learn more
₹
₹
Monthly EMI-
Principal-
Total interest-
Total payment-
Interest share-
EMIs use - of take-home
Payment breakup
  • Principal
  • Interest

Amortization schedule
Starting from

Yearly principal vs interest

  • Principal
  • Interest
#DateEMIPrincipalInterestBalance

Lowest education loan rates from Indian lenders

Your EMI at each lender for ₹ 15 Lakhs over 10 yrs, at the low and high ends of its public rate band. The low end goes to the strongest profiles; your sanction letter sets your rate.

LenderRate bandEMI fromEMI up toLender's page
PNB7.1% onwards₹ 17,494–Get offer: PNB (opens in a new tab)
Bank of Baroda7.1% to 10.15%₹ 17,494₹ 19,947Get offer: Bank of Baroda (opens in a new tab)
Canara Bank7.25% to 10.1%₹ 17,610₹ 19,906Get offer: Canara Bank (opens in a new tab)
ICICI8.5% to 13%₹ 18,598₹ 22,397Get offer: ICICI (opens in a new tab)
SBI9.4% to 9.9%₹ 19,328₹ 19,740Get offer: SBI (opens in a new tab)
HDFC10.5% onwards₹ 20,240–Get offer: HDFC (opens in a new tab)
Kotak11% to 16%₹ 20,663₹ 25,127Get offer: Kotak (opens in a new tab)
Axis13.7% to 15.2%₹ 23,020₹ 24,384Get offer: Axis (opens in a new tab)

Ordered by lowest advertised rate. Bands checked against each lender's public rate card between 10 Oct 2026 and 11 Oct 2026; they are not live quotes. We are not a lender and do not collect your details: "Get offer" opens the lender's own site. Fees, repo-hike status and public vs private averages are on the education loan interest rates page.

What this calculator shows

This education loan EMI calculator models the repayment-phase education EMI after study or moratorium ends. During the course, many products charge simple interest, nothing, or capitalize unpaid interest into principal.

Plan EMI against realistic post-study income, not only headline campus placement salaries. Enter figures with Manual sliders, or use AI mode to describe the loan (for example, education loan 15 lakh at 9.5% for 10 years).

How to use this calculator

  1. Enter the amount that will be under education EMI after study, including capitalized interest if your bank adds it. Or switch to AI and describe the loan in plain English.
  2. This education loan EMI calculator models the repayment phase, not every moratorium variant. Confirm your sanction letter for course-period rules.
  3. Check whether you pay simple interest during the course, and whether unpaid interest is added to principal.
  4. Set tenure against first expected salary with a buffer for delayed joining or lower starting pay.

Moratorium, capitalization, and education EMI planning

Moratorium length is not free if interest accrues. Ask how unpaid interest is treated before you compare education EMI quotes across banks.

Partial interest payments during study can reduce what gets capitalized. That lowers the eventual EMI base.

Overseas loans and domestic schemes differ on collateral, margin money, and tax treatment of interest. Use the calculator for math, then confirm product rules.

Student loan eligibility and repayment EMI are separate. Size the installment against realistic salary, not the largest amount a lender will discuss.

Key takeaways

  • Interest accrued in moratorium can be added to principal, so the EMI base may exceed the fees disbursed for tuition.
  • Partial interest payments during study (if you can afford them) reduce capitalization and later EMI.
  • Plan repayment against realistic post-study income with a buffer for delayed joining, not only headline campus placement salaries.
  • Domestic and overseas products differ on collateral, margin money, and interest treatment: confirm the sanction letter.

Decision tips before you borrow

Size the education EMI against expected salary after placement, not the lowest marketing EMI.

  • Ask the bank how moratorium interest is capitalized before you compare EMI quotes.
  • Partial interest payments during study can reduce capitalization.
  • Keep documents for any interest deduction claims your CA confirms are available.
  • Stress a later joining date so the first year of EMI still fits.

₹15 lakh education loan at 9.5% for 10 years

EMI ≈ ₹19,410 once repayment starts. Across 120 months, total interest is about ₹8.29 lakh if the rate stays constant and you make no prepayments. If unpaid moratorium interest is capitalized, raise the principal in the calculator to match the lender’s repayment-start balance before you judge affordability against expected salary.

Formula: This tool models the repayment phase with the standard reducing-balance EMI formula. Moratorium interest capitalization and course-period rules vary by lender and scheme.

Figures are estimates for education and planning and may differ from your lender’s schedule due to fees, floating rates, or product rules.

Last updated on Jul 28, 2026.