Education Loan EMI Calculator — Best Guide for Indian & Abroad Studies

 


What Is an Education Loan EMI Calculator?

An Education Loan EMI Calculator is an online tool that helps students and parents calculate the monthly EMI they must pay after taking an education loan.

By entering simple details such as:

  • Loan amount
  • Interest rate
  • Tenure

You instantly get:

  • Monthly EMI
  • Total interest payable
  • Total repayment amount
  • EMI breakdown

Using a calculator gives clarity before applying for a loan, especially for higher education in India or abroad.

Why Should You Use an EMI Calculator for Education Loans?

Using an Education Loan EMI Calculator helps you:

  • Know your EMI before taking the loan
  • Compare multiple banks
  • Understand total interest payable
  • Choose the best repayment period
  • Avoid financial stress after graduation

This tool is especially useful for study abroad aspirants where loan amounts are higher.

Education Loan Interest Rates in India (2025 Updated List)

Bank / LenderApprox Interest RateSBI9.25% — 11%Bank of Baroda8.85% — 10.50%ICICI Bank10.5% — 12.5%Axis Bank10% — 12%HDFC Credila10.5% — 13%Union Bank of India8.8% — 10.5%

Interest rates may vary depending on course, university, collateral, and student profile.

Education Loan EMI Examples (India & Abroad)

EMI for Indian Education Loans

Example 1: Loan Amount — 10 Lakhs

  • Interest Rate: 10%
  • Tenure: 10 Years
    EMI: Approximately 13,215 per month

Example 2: Loan Amount — 20 Lakhs

  • Interest Rate: 10%
  • Tenure: 15 Years
    EMI: Approximately 21,493 per month

EMI for Abroad Education Loans

Loan AmountInterest RateTenureApprox EMI40 Lakhs11.5%15 years46,37850 Lakhs12%15 years60,033


Abroad education loans generally have higher EMIs due to larger loan amounts and higher interest rates.

India vs Abroad Education Loan: EMI Comparison

FeatureIndia LoanAbroad LoanLoan Amount10–20 Lakhs20–75 LakhsInterest Rate8.8–11%10–14%EMILowerHigherMoratoriumCourse + 6 monthsCourse + 12 months

What Is Moratorium Period?

A moratorium period is the time when students are not required to pay EMI.
This usually covers:

  • The entire duration of the course
  • 6 to 12 months after the course

However, interest continues to accumulate during this period.

Types of Moratorium:

  1. Full Moratorium: Pay nothing during the study period; EMI becomes higher later.
  2. Simple Interest Payment: Pay only interest during moratorium; reduces overall burden.
  3. Partial Interest Payment: Pay half the interest; balanced and affordable.

How to Use an Education Loan EMI Calculator (Simple Guide)

  1. Enter the loan amount you want.
  2. Enter the expected interest rate.
  3. Select the repayment tenure (years).
  4. Click on “Calculate EMI”.
  5. View your EMI, total interest, and total repayment amount.

Test different combinations to find the EMI that fits your budget.

Best Banks for Low EMI Education Loans

Public sector banks usually provide the most affordable EMIs:

  • SBI
  • Bank of Baroda
  • Union Bank of India

NBFCs offer faster approvals but usually charge higher interest.

Government Subsidy Schemes for Education Loans

CSIS — Central Sector Interest Subsidy Scheme

  • For families with annual income below 4.5 lakhs
  • Government pays interest during moratorium

Vidya Lakshmi Portal

  • Single platform to apply to multiple banks
  • Helps compare loan offers

These schemes help reduce the total cost of education loans.

Tips to Reduce Your Education Loan EMI

  • Choose a longer tenure to lower EMI
  • Pay interest during moratorium
  • Add a co-applicant with strong credit score
  • Select collateral-based loans for lower interest
  • Prefer public banks over private lenders or NBFCs

These steps can significantly reduce your monthly EMI burden.

FAQs

1. How can I calculate EMI for an education loan?

Use an Education Loan EMI Calculator by entering loan amount, interest rate, and tenure.

2. Is EMI higher for abroad education loans?

Yes. Loan amounts and interest rates are higher, resulting in higher EMIs.

3. Do banks charge interest during moratorium?

Yes. Interest continues to accumulate even if you do not pay EMI.

4. Which bank offers the lowest EMI for education loans?

SBI, Bank of Baroda, and Union Bank usually offer the lowest rates.

5. How much EMI for a 20 lakh education loan?

Around 21,493 per month for 15 years at 10% interest.

Conclusion

The Education Loan EMI Calculator is a simple and effective tool to estimate EMI, compare banks, and understand your repayment plan before applying for a loan.

Whether you are planning to study in India or abroad, calculating EMI in advance helps you choose the loan amount and bank that fits your financial comfort.

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