Education Loan EMI Calculator with Moratorium Period
Enter the loan, rate, repayment years and the moratorium (course length plus grace period). Choose whether you will pay the interest during the course or let it add to the loan.
- Nothing you type is stored
- Free
- No signup
Monthly EMI
₹19,086a month
- Loan when EMIs start
- ₹14,75,000
- Moratorium interest
- ₹4,75,000
- Total interest
- ₹12,90,337
- Total amount paid
- ₹22,90,337
Simple interest for 60 months is added to the loan before EMIs start. Assumes the full loan is paid out on day one; with fees paid in stages your interest will be lower.
Year by year
| Year | Principal paid | Interest paid | Balance left |
|---|---|---|---|
| 1 | ₹92,884 | ₹1,36,150 | ₹13,82,116 |
| 2 | ₹1,02,102 | ₹1,26,931 | ₹12,80,014 |
| 3 | ₹1,12,236 | ₹1,16,798 | ₹11,67,778 |
| 4 | ₹1,23,375 | ₹1,05,659 | ₹10,44,403 |
| 5 | ₹1,35,620 | ₹93,414 | ₹9,08,783 |
| 6 | ₹1,49,080 | ₹79,954 | ₹7,59,704 |
| 7 | ₹1,63,875 | ₹65,158 | ₹5,95,828 |
| 8 | ₹1,80,140 | ₹48,894 | ₹4,15,689 |
| 9 | ₹1,98,018 | ₹31,016 | ₹2,17,671 |
| 10 | ₹2,17,671 | ₹11,363 | ₹0 |
How to use
- Enter the loan amount and the yearly rate from the bank.
- Enter the moratorium in months (course + 6 or 12 months) and the repayment years.
- Pick "Add to loan" or "Pay monthly" for the moratorium interest and compare the EMI.
Good to know
During the moratorium most banks charge simple interest. If it is not paid, it is added to the loan when EMIs start, so the EMI is worked out on a bigger amount. Paying that interest during the course keeps the loan from growing, and some banks give a 0.5%–1% rate concession for it.
This calculator assumes the whole loan is paid out on day one. In practice fees are paid each semester or year, so interest in the early years is lower than shown. Treat the result as a safe upper estimate.
Under the old tax regime, the interest paid on an education loan for higher studies can be deducted (80E) for up to 8 years with no upper limit. Government interest subsidy schemes (such as CSIS for eligible family incomes) can cover the moratorium interest; check your eligibility with the bank.
Questions
What is the moratorium period on an education loan?
It is the course period plus a grace period, usually 6 months to 1 year after the course or after getting a job, whichever is earlier. No EMI is due in this time.
Is interest charged during the moratorium?
Yes, usually simple interest. It is added to the loan unless you pay it, or unless a subsidy scheme covers it.
How long can I take to repay?
Banks typically allow 10 to 15 years after the moratorium, depending on the amount.
Is education loan interest tax-deductible?
Under the old tax regime, interest (not principal) is deductible for 8 years from the year repayment starts. It is not available in the new regime.
Is my data stored?
No. Everything is calculated on your device.