Work out your monthly EMI, total interest and full repayment schedule — including the interest that builds up while you study. Pick a lender to use their starting rate, or set your own.
Monthly EMI after the moratorium
₹31,716
for 120 months
Indicative estimate. Assumes the full amount is disbursed upfront and simple interest during the moratorium, as most Indian lenders charge. Your lender's sanction letter is final.
Banks and NBFCs use the standard reducing-balance formula. Each month part of your EMI pays interest on the outstanding balance and the rest reduces the principal — so early EMIs are mostly interest and later ones mostly principal.
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)
Example: ₹10 Lakh at 10% for 10 years gives an EMI of ₹13,215, and you repay ₹15,85,809 in total.
You don't pay EMIs while you study, but interest still accrues — most lenders charge simple interest during the course plus grace period. What you do with that interest makes a big difference. Example: ₹40 Lakh at 10% with a 30-month moratorium (2-year course + 6-month grace) and 10-year repayment:
| Interest added to loan | Interest paid monthly | |
|---|---|---|
| Paid during the course | ₹0 | ₹33,333/month |
| Loan when EMIs start | ₹50 Lakh | ₹40 Lakh |
| Monthly EMI | ₹66,075 | ₹52,860 |
| Total interest | ₹39,29,044 | ₹33,43,235 |
Paying the moratorium interest as you go saves about ₹5.86 Lakh over the life of the loan and keeps your EMI ₹13,215 a month lower. If you can't, the calculator above shows exactly what to expect.
Monthly EMI for a 10-year repayment, with no unpaid moratorium interest.
| Loan amount | 9% p.a. | 10.5% p.a. | 12% p.a. |
|---|---|---|---|
| ₹10 Lakh | ₹12,668 | ₹13,493 | ₹14,347 |
| ₹20 Lakh | ₹25,335 | ₹26,987 | ₹28,694 |
| ₹40 Lakh | ₹50,670 | ₹53,974 | ₹57,388 |
| ₹75 Lakh | ₹95,007 | ₹1,01,201 | ₹1,07,603 |
Pay interest during the moratorium. Even small monthly payments while you study stop interest from being added to your loan — the single biggest saving.
Compare lenders before you sign. A 1% lower rate on a ₹40 Lakh, 10-year loan saves about ₹2.63 Lakh in interest. PSU banks are usually cheapest; NBFCs are faster and more flexible.
Offer collateral if you can. Secured loans typically cost 1.5–3% less than unsecured ones, and can unlock higher amounts.
Prepay when you can. Floating-rate education loans can't carry prepayment penalties under RBI rules — use bonuses or salary hikes to cut the principal early.
Claim Section 80E. All interest you pay is deductible for up to 8 years under the old tax regime, which effectively lowers your cost of borrowing.
Common questions about EMIs, moratorium and repayment
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