Education Loan EMI Calculator
Plan your education loan EMI for studies in India or abroad, including the moratorium period.
About the Education Loan EMI Calculator
Education loans are slightly more nuanced than other consumer loans because of the moratorium — the period during your course (and a few months after) when you do not repay anything but the bank keeps charging interest. The AlarmDaddy Education Loan EMI Calculator handles both: enter your course length plus moratorium grace, and the calculator shows the EMI you will pay once repayment starts, plus the total interest including what accrued during the moratorium.
This is critical for students planning to study abroad on big-ticket loans (₹30 lakh and above), where the moratorium interest alone can add 15% or more to the total cost. It is equally useful for parents budgeting an Indian college fee. Education loans in India typically charge 8.5% to 13%, with female students and IIT/IIM/AIIMS-tier colleges getting better rates from public-sector banks.
How to use this calculator
- 1Enter the total loan amount.
- 2Enter the annual interest rate (typically 8.5% to 13%).
- 3Enter the moratorium period (course duration plus 6 to 12 months grace).
- 4Enter the repayment tenure in years (5 to 15 is typical).
- 5Read the EMI after moratorium and the total cost including moratorium-period interest.
The formula
During the moratorium, simple interest is added to the principal each month, growing the effective principal you eventually start repaying. After moratorium ends, the standard EMI formula applies on the new (grown) principal.