Estimate your monthly EMI, total interest, and repayment timeline
Repayment Breakdown
Monthly EMI
*Excluding moratorium period interest
Click a lender to apply that interest rate to the calculator. Rates are indicative.
Apply for the loan 3–4 months before your visa appointment
Keep your EMI-to-income ratio below 40% for easy approval
SBI Scholar Loan offers the lowest rates for IIT/NIT alumni
A 1-year moratorium can ease pressure during your study period
EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay your loan. It includes both principal repayment and interest, structured so that you pay off the entire loan within the tenure.
Most education loans offer a moratorium (grace period) of the study duration + 6–12 months. During this time, you don't pay EMI — though simple interest may accrue. EMI begins after the moratorium ends.
Secured loans (with collateral like property) offer rates as low as 7–8%. Unsecured loans need no collateral but come at 11–14%. For amounts above ₹40 lakhs, most banks require collateral.
The interest paid on your education loan is 100% tax deductible under Section 80E for up to 8 years, with no upper limit. This makes education loans one of the most tax-efficient borrowing options in India.
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