Free Online Education Loan EMI Calculator with Moratorium Period Support
Education loan EMI calculator helps students and parents compute monthly instalments, total interest including moratorium period, and full year-wise repayment schedules. Plan your study financing for courses in India or abroad with accurate bank-grade calculations — completely free with no signup required.
Calculate Your Education Loan EMI
Year-wise Amortization Schedule
| Year | Principal Paid | Interest Paid | Total Paid | Balance |
|---|
How to Use the Education Loan Calculator
Enter Loan Amount
Type the total education loan amount you need. For example, enter 1000000 for a ₹10 Lakh loan for an MBA programme.
Select Interest Rate
Enter the annual interest rate offered by your bank. Education loan rates in India typically range from 8% to 15% per annum.
Choose Repayment Tenure
Select the loan repayment period in months or years. Education loans typically offer 5 to 15 years for repayment after the moratorium.
Enter Moratorium Period
Enter the moratorium period in months — the grace period during which no EMI is required. This is usually the course duration plus 6 to 12 months.
Click Calculate EMI
Click the Calculate EMI button to see your monthly EMI, total interest including moratorium interest, total repayment, and full amortization schedule.
Copy or Download Results
Use the Copy Result or Download buttons to save your education loan calculation for comparison or future reference.
Key Features of Our Education Loan Calculator
100% Free Forever
Calculate unlimited education loan EMIs for any course, any bank, and any country without charges or signup requirements.
Moratorium Support
Accurately models the moratorium period with interest capitalization, showing the true cost of your education loan.
Instant Calculations
Get EMI, total interest, effective principal, and complete amortization schedule in under one second.
Complete Privacy
All calculations run locally in your browser. No financial data is stored, transmitted, or shared with anyone.
Mobile Friendly
Fully responsive design works perfectly on smartphones, tablets, and desktops for planning on the go.
No Signup Needed
Start calculating immediately without creating accounts, verifying email, or providing any personal information.
Education Loan EMI Formula and How It Works
EMI = P' × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1)Calculation Process Steps
Understanding the moratorium impact is crucial for education loans in India. Consider Ananya who borrows ₹10,00,000 at 9% for her 4-year B.Tech programme with a 54-month moratorium (48 months course + 6 months grace). If she lets the interest capitalize, her effective principal grows to approximately ₹14,86,095. Her EMI for a 7-year repayment would be ₹23,754 on this inflated principal. However, if she pays ₹7,500 monthly interest during the moratorium, her principal stays at ₹10,00,000 and EMI drops to ₹15,987 — saving her over ₹2,56,000 in total interest. This calculator models both scenarios to help you decide the optimal approach.
Education Loan EMI Calculation Examples
B.Tech at IIT — Rahul's Loan
Result: Moratorium Interest ₹3,21,462 | Effective Principal ₹11,21,462 | EMI ₹17,570 | Total Interest ₹5,97,270
Use Case: Rahul from Lucknow takes an SBI education loan for his B.Tech at IIT Kanpur. With the 54-month moratorium covering his 4-year course plus grace period, he plans to start repaying after getting placed.
MBA Abroad — Meera's Plan
Result: Moratorium Interest ₹7,27,184 | Effective Principal ₹32,27,184 | EMI ₹43,580 | Total Interest ₹20,56,825
Use Case: Meera from Mumbai borrows ₹25 Lakh for her 2-year MBA at a UK university. She capitalizes the interest during the moratorium and repays over 10 years after returning and starting her career.
Medical Degree — Dr. Amit's Education
Result: Moratorium Interest ₹0 (paid monthly) | Effective Principal ₹15,00,000 | EMI ₹19,001 | Total Interest ₹12,80,174
Use Case: Amit from Hyderabad takes a loan for his MBBS. His parents pay ₹11,250 monthly interest during the 6-year course, keeping the principal unchanged and saving significantly over the loan lifetime.
Masters in Data Science — Sneha's Choice
Result: Moratorium Interest ₹1,52,295 | Effective Principal ₹6,52,295 | EMI ₹14,177 | Total Interest ₹2,02,937
Use Case: Sneha from Bangalore borrows ₹5 Lakh for a 2-year M.Tech in Data Science at IIIT. She capitalizes the interest during her course plus a 6-month job search period and repays over 5 years once employed.
What is an Education Loan Calculator?
An education loan calculator is a specialised financial planning tool designed specifically for students, parents, and guardians who are considering borrowing money to fund higher education. Unlike a standard EMI calculator, this tool accounts for the unique moratorium period feature that is central to education loans — the grace period during your course and shortly after graduation when no EMI payments are required but interest continues to accrue on the borrowed amount.
In India, education loans are offered by virtually every bank and NBFC for courses ranging from undergraduate programmes at IITs and NITs to MBA degrees abroad at top business schools. The Reserve Bank of India (RBI) has established guidelines under which banks offer education loans up to ₹7.5 Lakh without collateral for domestic studies and higher amounts with property or fixed deposit as security. Understanding the true cost of these loans — including the significant impact of moratorium interest capitalization — is crucial before committing to a multi-year financial obligation.
This calculator helps you model different scenarios: what happens if you pay interest during the moratorium versus letting it capitalize, how different tenures affect your EMI, and which interest rate will keep your repayment manageable. Financial advisors and education counsellors recommend that students use such calculators before finalising their loan applications to ensure the post-graduation EMI stays within 30-40% of their expected starting salary. With tax benefits available under Section 80E of the Income Tax Act for interest payments, planning your education loan strategically can result in meaningful savings over the repayment period.