Loans & interest
Education Loan EMI Calculator
ఎడ్యుకేషన్ లోన్ ఈఎంఐ కాలిక్యులేటర్
EMI and total interest of an education loan once repayment starts after the course.
Your result ఫలితం
Monthly EMI నెలవారీ వాయిదా
13.22 thousand rupees a month
- Principalఅసలు
- ₹10,00,000
- Total interestమొత్తం వడ్డీ
- ₹5,85,809
- Total paymentమొత్తం చెల్లింపు
- ₹15,85,809
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 | ₹61,342 | ₹97,239 | ₹9,38,658 |
| 2 | ₹67,765 | ₹90,816 | ₹8,70,893 |
| 3 | ₹74,861 | ₹83,720 | ₹7,96,032 |
| 4 | ₹82,700 | ₹75,881 | ₹7,13,332 |
| 5 | ₹91,360 | ₹67,221 | ₹6,21,972 |
| 6 | ₹1,00,926 | ₹57,655 | ₹5,21,046 |
| 7 | ₹1,11,495 | ₹47,086 | ₹4,09,551 |
| 8 | ₹1,23,170 | ₹35,411 | ₹2,86,382 |
| 9 | ₹1,36,067 | ₹22,514 | ₹1,50,315 |
| 10 | ₹1,50,315 | ₹8,266 | ₹0 |
How the education loan EMI is calculated
Lenders charge interest each month on the balance still owed (reducing balance). 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: a education loan of ₹10,00,000 at 10% for 10 years is an EMI of ₹13,215. You pay ₹5,85,809 in interest, ₹15,85,809 in all. The rate is an example: yours depends on the lender and your credit score.
Good to know
- Repayment usually starts after a moratorium (the course plus 6 to 12 months). Interest runs during it, so enter the amount you will owe when the EMIs begin.
- 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.
- Paying the interest during the course, if you can, keeps the loan from growing before the EMIs start.
Questions
Does a longer tenure save money?
No. A longer tenure lowers the EMI but raises the total 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.
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.
