Typically 9%–13% p.a., up to 15 years
Education loan EMI calculator
Estimate the EMI on a study loan and see how the moratorium period and early payments change the total cost.
Your loan details
₹15.00 L
Monthly reducing balance. 0% is supported.
Total tenure: 120 months (10 years)
Use this for tenures like 5 years 6 months.
Added to every EMI and applied straight to principal.
Monthly EMI
₹20,240
Loan closes in
10 years
Oct 2036
Total interest
₹9.29 L
₹9,28,830
Total payment
₹24.29 L
Principal ₹15.00 L
Shared links carry only the loan numbers you entered — never any personal details.
| Year | Interest | Principal | Balance |
|---|---|---|---|
| Year 1 | ₹1,53,269 | ₹89,614 | ₹14,10,386 |
| Year 2 | ₹1,43,393 | ₹99,490 | ₹13,10,896 |
| Year 3 | ₹1,32,429 | ₹1,10,454 | ₹12,00,441 |
| Year 4 | ₹1,20,256 | ₹1,22,627 | ₹10,77,815 |
| Year 5 | ₹1,06,742 | ₹1,36,141 | ₹9,41,674 |
| Year 6 | ₹91,739 | ₹1,51,144 | ₹7,90,530 |
| Year 7 | ₹75,083 | ₹1,67,800 | ₹6,22,730 |
| Year 8 | ₹56,591 | ₹1,86,292 | ₹4,36,438 |
| Year 9 | ₹36,060 | ₹2,06,823 | ₹2,29,615 |
| Year 10 | ₹13,268 | ₹2,29,615 | ₹0 |
ByeToEMI — Education loan statement
Loan amount ₹15,00,000 · Rate 10.5% p.a. · Tenure 120 months · EMI ₹20,240
Assumptions: monthly reducing balance, interest on the outstanding principal, first EMI next month, extra payments applied to principal in the same month, fees shown separately.
Total interest ₹9,28,830 · Total payment ₹24,28,830 · Closes in 10 years (Oct 2036)
ByeToEMI provides indicative calculations for educational and planning purposes. Actual lender calculations, charges, interest-rate changes and repayment schedules may differ. ByeToEMI is not a lender, loan broker or financial advisor.
These results are mathematical estimates. Your lender's EMI, fees, taxes and prepayment charges may differ. Read the full financial disclaimer.
How this calculator works
Education loans usually have a moratorium covering the course period plus 6 to 12 months, during which repayment has not started but interest keeps accruing.
If that accrued interest is not paid during the moratorium, it is capitalised — added to the principal — and the EMI is then calculated on the larger amount.
This calculator models the repayment phase. To reflect capitalised interest, enter the expected outstanding amount at the start of repayment as the loan amount.
The formula used is the standard monthly reducing-balance EMI: EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the principal, r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of months. At 0% interest the EMI is simply P ÷ n.
A worked example
A ₹15,00,000 education loan at 10.5% per year for 120 months has an EMI of about ₹20,241.
Total interest across the 10 years is roughly ₹9.29 lakh, so the total outgo is about ₹24.29 lakh.
Servicing simple interest during a two-year course prevents roughly ₹3 lakh of capitalisation, which lowers both the EMI and the total interest.
Limitations you should know
- The moratorium period, staged disbursals for each semester and interest subsidy schemes are not simulated month by month.
- Tax deduction on education loan interest under Section 80E is not factored into the figures.
- Forex movement on foreign-currency fees and any co-applicant insurance cost are excluded.
Frequently asked questions
- Should I pay interest during the study period?
- If you can, yes. Paying the simple interest during the moratorium stops it being added to the principal, which lowers your EMI and the total interest for the whole repayment period.
- What amount should I enter for a loan still being disbursed?
- Enter the amount you expect to owe when repayment begins, including any interest that will be capitalised. That gives the most realistic EMI.
- Are education loans eligible for prepayment without penalty?
- Most floating-rate education loans allow prepayment without a charge, but confirm the terms with your lender before making a lump-sum payment.
- Does Section 80E change my repayment plan?
- Section 80E allows a deduction on the interest paid for up to eight years, which lowers your effective cost. It does not change the EMI, and it should not stop you from prepaying if the loan is expensive.
Last reviewed: 1 September 2026
ByeToEMI provides indicative calculations for educational and planning purposes. Actual lender calculations, charges, interest-rate changes and repayment schedules may differ. ByeToEMI is not a lender, loan broker or financial advisor.