Estimate education-loan EMI post-moratorium along with total interest and repayment schedule.
You will pay ₹25,291 every month for 84 months. Total interest cost: ₹6,24,445 (41.63% of principal).
| Year | Principal Paid | Interest Paid | Balance |
|---|---|---|---|
| 1 | ₹1,53,227 | ₹1,50,265 | ₹13,46,773 |
| 2 | ₹1,70,113 | ₹1,33,379 | ₹11,76,660 |
| 3 | ₹1,88,860 | ₹1,14,632 | ₹9,87,800 |
| 4 | ₹2,09,673 | ₹93,819 | ₹7,78,126 |
| 5 | ₹2,32,780 | ₹70,712 | ₹5,45,346 |
| 6 | ₹2,58,433 | ₹45,059 | ₹2,86,913 |
| 7 | ₹2,86,913 | ₹16,579 | ₹0 |
Education loans in India are offered by all major banks — SBI, BOB, Canara, Axis, ICICI — for domestic (₹10–40 L) and abroad studies (₹40 L–₹1.5 Cr). Rates range 8.5% to 13% and moratorium equals course duration + 6–12 months. This calculator estimates EMI post-moratorium so students and parents can plan repayment realistically.
Under Section 80E of the Income Tax Act, the entire interest paid on an education loan (no cap) is deductible for 8 years starting from the year repayment begins. This makes education loans the most tax-efficient way to fund higher studies vs draining savings or selling investments.
US MS programme, 2-year course + 1-year moratorium.
| Item | Rule |
|---|---|
| Who can claim | Individual — self, spouse, children, legal ward |
| Deduction | 100% of interest (no cap) |
| Regime | Old regime only |
| Duration | 8 years from repayment start OR till interest fully paid |
| Lender | Scheduled bank, notified financial institution, approved charitable institution |
Servicing interest during moratorium out of pocket — defeats the tax-planning benefit.
Claiming 80E without a valid lender certificate.
Choosing max tenure — interest cost balloons beyond degree ROI.
Need a CA to review your numbers? Book a free consult — we'll double-check within 24 hours.
Route interest payments through the student's account post-employment to maximise 80E.
Refinance abroad loans (MPower, Prodigy) to an Indian bank post-return for cheaper rate.
EMI is computed using the standard reducing-balance formula: EMI = P × r × (1+r)^N / ((1+r)^N − 1), where P is the principal, r the monthly interest rate and N the tenure in months.
No. Processing fees, insurance, GST on fees and stamp duty are excluded and vary per lender. Add them separately to arrive at the true cost of the loan.
Yes. Any principal prepayment reduces the outstanding balance and therefore future interest. Prepaying earlier in the tenure saves the most interest.
EMI is computed using the standard reducing-balance formula: EMI = P × r × (1+r)^N / ((1+r)^N − 1), where P is the principal, r the monthly interest rate and N the tenure in months.
via Education Loan CalculatorEMI is computed using the standard reducing-balance formula: EMI = P × r × (1+r)^N / ((1+r)^N − 1), where P is the principal, r the monthly interest rate and N the tenure in months.
via EMI CalculatorNo. Processing fees, insurance, GST on fees and stamp duty are excluded and vary per lender. Add them separately to arrive at the true cost of the loan.
via EMI CalculatorEMI is computed using the standard reducing-balance formula: EMI = P × r × (1+r)^N / ((1+r)^N − 1), where P is the principal, r the monthly interest rate and N the tenure in months.
via Personal Loan CalculatorNo. Processing fees, insurance, GST on fees and stamp duty are excluded and vary per lender. Add them separately to arrive at the true cost of the loan.
via Personal Loan CalculatorThis dataset is free to reference in articles, research and reports. Attribution to Taxpex Consultancy is all we ask. Data last verified 31 July 2026.
Taxpex Consultancy. (2026). Education Loan Calculator — Taxpex. Retrieved from https://taxpex.com/tools/loans-emi/education-loan-calculator<a href="https://taxpex.com/tools/loans-emi/education-loan-calculator">Education Loan Calculator — Taxpex</a> — Taxpex Consultancy