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Education Loan EMI Calculator | Monthly Instalment with Moratorium Interest
Calculate an education loan'"'"'s monthly EMI, total interest and the interest accrued during the course-period moratorium instantly. Compare bank vs NBFC offers before deciding.
Education Loan EMI Calculator
A step ahead of a plain education loan EMI calculator: here you can factor in the moratorium period (the course duration) — the interest that accrues on the principal during that time is added to the calculation before repayment even begins. This shows the true burden of a bank’s or NBFC’s offer.
Moratorium = the course period, during which interest accrues but no instalments are due. Example: MBBS (4.5 years + internship) → 5 years.
📌 Important Information
Frequently Asked Questions
How is an education loan EMI calculated?
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the principal, r the monthly interest rate and n the total number of months. For education loans, the interest accrued during the moratorium (the course period) is added to the principal — this calculator accounts for that too.
Do you have to pay interest during the moratorium?
Usually no instalments are due, but interest keeps running and gets added to the principal. Some lenders accrue "simple interest" during the moratorium — this calculator follows that same convention.
What EMI falls on a ₹20 lakh loan at 10% interest?
Without a moratorium, about ₹26,430/month over a 10-year tenure. Adding a moratorium will raise the EMI further because interest accrues — enter your own numbers above to see.
Is the processing fee included in the calculation?
This calculator covers the principal, interest, tenure and moratorium. Processing fees, insurance etc. vary by institution, so add them separately when reviewing a final offer.