Education Loan EMI Calculator
Estimate the equated monthly instalment, total interest and outstanding balance on a Education Loan.
15,00,000
10.50
10
Monthly EMI
₹20,240
Total interest payable
₹9,28,830
Total amount payable
₹24,28,830
| Year | Principal paid | Interest paid | Outstanding |
|---|---|---|---|
| Year 1 | ₹89,614 | ₹1,53,269 | ₹14,10,386 |
| Year 2 | ₹99,490 | ₹1,43,393 | ₹13,10,896 |
| Year 3 | ₹1,10,454 | ₹1,32,429 | ₹12,00,441 |
| Year 4 | ₹1,22,627 | ₹1,20,256 | ₹10,77,815 |
| Year 5 | ₹1,36,141 | ₹1,06,742 | ₹9,41,674 |
| Year 6 | ₹1,51,144 | ₹91,739 | ₹7,90,530 |
| Year 7 | ₹1,67,800 | ₹75,083 | ₹6,22,730 |
| Year 8 | ₹1,86,292 | ₹56,591 | ₹4,36,438 |
| Year 9 | ₹2,06,823 | ₹36,060 | ₹2,29,615 |
| Year 10 | ₹2,29,615 | ₹13,268 | ₹0 |
// about this calculator
Education loans for India and abroad usually offer a course-plus-12-month moratorium during which only simple interest accrues. EMIs begin after the moratorium. The calculator below estimates post-moratorium EMI on the principal — add accrued simple interest to refine.
// frequently asked questions
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is principal, r is monthly interest rate (annual ÷ 12 ÷ 100), and n is number of months.