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Education Loan EMI Calculator

Plan study-loan repayments from the first salary onward and see how much a modest yearly prepayment shortens the term.

Amount range
₹50.0 K – ₹2.0 Cr
Tenure
up to 15 years
Method
Reducing balance

Monthly EMI

₹26,987

for 10 yr · last instalment Sep 2036

Total Interest

₹12,38,440

₹0.62 interest per ₹1 borrowed

Fees + GST

₹23,600

Deducted upfront by the lender

Total Repayment

₹32,38,440

Principal + interest over the full term

Total Cost of Loan

₹32,62,040

Everything you pay, fees included

Where your money goes

Total repayment₹32.4 L
  • Principal61.3%
  • Interest38.0%
  • Fees + GST0.7%

Amortisation Schedule

120 instalments · every rupee accounted for

PeriodPaymentPrincipalInterestBalancePaid
2026(3 mo)₹80,961₹28,711₹52,250₹19,71,2891%
Oct 2026₹26,987₹9,487₹17,500₹19,90,5130.5%
Nov 2026₹26,987₹9,570₹17,417₹19,80,9431.0%
Dec 2026₹26,987₹9,654₹17,333₹19,71,2891.4%
2027(12 mo)₹3,23,844₹1,22,650₹2,01,194₹18,48,6398%
2028(12 mo)₹3,23,844₹1,36,166₹1,87,678₹17,12,47314%
2029(12 mo)₹3,23,844₹1,51,172₹1,72,672₹15,61,30122%
2030(12 mo)₹3,23,844₹1,67,832₹1,56,012₹13,93,46930%
2031(12 mo)₹3,23,844₹1,86,327₹1,37,516₹12,07,14240%
2032(12 mo)₹3,23,844₹2,06,861₹1,16,983₹10,00,28050%
2033(12 mo)₹3,23,844₹2,29,658₹94,186₹7,70,62261%
2034(12 mo)₹3,23,844₹2,54,967₹68,877₹5,15,65574%
2035(12 mo)₹3,23,844₹2,83,066₹40,778₹2,32,58988%
2036(9 mo)₹2,42,883₹2,32,589₹10,294₹0100%

Monthly EMI

₹26,987

Total interest

₹12.4 L

Check the going rate first

Before you settle on a rate in the calculator, see what lenders are actually publishing for education loans right now.

Education Loan rates

Weighing up two offers?

Put both in the comparison tool. It ranks by total money out of pocket, so a low rate hiding a large processing fee has nowhere to hide.

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Education Loan

Education Loan questions, answered

What people ask most about education loan EMIs, prepayment and total cost.

Most education loans allow a moratorium covering the course duration plus six to twelve months, during which you make no EMI payments. Interest usually still accrues and is added to the principal, so the balance you begin repaying is larger than the amount disbursed. This calculator models the repayment phase — enter the post-moratorium balance as the loan amount for an accurate EMI.

EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the principal, r the monthly interest rate (annual rate ÷ 12 ÷ 100) and n the number of monthly instalments. This is the reducing-balance method every Indian lender uses: interest each month is charged only on the balance still outstanding, so the interest portion of your EMI shrinks and the principal portion grows as the loan runs down.

Reducing the tenure almost always saves more money, because you stop paying interest sooner. Reducing the EMI keeps you paying for the original term and only lowers the monthly outgo. Choose tenure reduction if your cash flow is comfortable and you want the maximum interest saving; choose EMI reduction if your monthly budget is tight and breathing room matters more than the total saved. The calculator shows both outcomes side by side.

Yes, substantially. Interest is charged on the outstanding balance, so a rupee repaid in year 2 avoids interest for the remaining 18 years, while the same rupee in year 15 avoids only five years of it. On a typical 20-year home loan, a lump sum in year 2 can save several times what the identical amount saves in year 12.

Yes. The calculator applies your processing fee as a percentage of the sanctioned amount, adds GST on that fee (18% is the standard rate on financial services in India), and reports a Total Cost of Loan that includes both. This matters when comparing lenders: a bank offering a rate 0.1% lower but charging double the processing fee can easily be the more expensive option on a short tenure.

Yes. The comparison tool takes up to four lenders with independent amounts, rates, tenures, processing fees and part-payment plans, then ranks them by total outflow rather than by headline rate — which is the only comparison that reflects fees honestly. You can prefill the rates from our bank interest rates table.

A note on accuracy

This calculator applies the standard reducing-balance formula that Indian lenders use, and includes processing fee and GST in the total cost. It does not model late-payment penalties, insurance bundled into the loan, foreclosure charges, or any moratorium period. Your lender's sanction letter is the authoritative statement of your EMI and charges — treat these figures as a well-informed estimate for planning, not a quotation.