Loans
Education Loan EMI Calculator
Education loans typically have a moratorium during course + 6 months grace, then EMIs start. Banks charge 8.5–11.5% for India studies, 9.5–13.5% for abroad. Section 80E lets you deduct interest paid (no upper limit).
Inputs
₹
₹50.0 K₹1.50 Cr
%
6.00%16.00%
yr
1 yr15 yr
Monthly EMI
₹26,987
Total interest
₹12,38,440
Total payment
₹32,38,440
Payment breakdown
Principal vs Interest · 10 time period
PrincipalInterest
Government schemes you should know
- • Vidya Lakshmi portal: Apply to 40+ banks via single application
- • Central Sector Interest Subsidy (CSIS): Full interest waiver during moratorium for families with income < ₹4.5 lakh/year (for India studies)
- • Padho Pardesh: Interest subsidy for OBC/EBC students studying abroad
- • Dr. Ambedkar Scheme: For OBC/EBC students, masters/PhD abroad
Tax benefit (Section 80E)
Interest on education loan is fully deductible from taxable income (no upper limit) for up to 8 years from when repayment starts. Only the interest portion — not principal. Available in old tax regime only.
Indicative rates (May 2026)
| Bank | Up to ₹4L | ₹4L – ₹7.5L | Above ₹7.5L |
|---|---|---|---|
| SBI | 8.65% | 9.65% | 10.15% |
| PNB | 8.95% | 9.85% | 10.35% |
| HDFC Credila | — | 10.50% | 11–13% |