Education Loan EMI Calculator
Plan higher studies abroad or domestically. Calculate moratorium period simple interest and post-graduation monthly repayments.
Home Loan Calculator
Calculate monthly installments with down payment & tax benefits
Simple interest accrued during moratorium: ₹10,00,000 (Added to loan principal before EMI repayment starts).
Breakdown Visual
Principal vs InterestHome loan borrowers can claim tax relief on interest paid and principal repayments under local tax codes (e.g., Sec 24b & 80C in India).
Amortization Schedule
Year-by-year payment timeline breaking down principal vs interest decay
| Period | Opening Balance | EMI Paid | Principal | Interest | Closing Balance |
|---|
Side-by-Side Loan Comparison
Compare interest rates, tenure variations, and see exactly how much you save
Offer B saves you more!
By choosing Offer B (8.25% vs 8.50%), your EMI decreases by ₹788/mo and total interest savings is:
Prepayment Impact Simulator
See how adding extra monthly or annual payments slashes your loan tenure and interest burden
Loan Eligibility Checker
Calculates your maximum eligible loan amount based on income and standard 50% FOIR (Fixed Obligation to Income Ratio)
Frequently Asked Questions
How is Loan EMI calculated mathematically?▼
Loan EMI is calculated using the standard reducing balance formula: E = P × r × (1+r)^n / ((1+r)^n - 1), where P is Principal Loan Amount, r is monthly interest rate (annual rate divided by 1200), and n is total number of monthly installments.
What is the difference between Floating and Fixed Interest Rates?▼
Fixed interest rates remain constant throughout your loan tenure. Floating interest rates are linked to central bank benchmark rates and fluctuate over time, affecting either your monthly EMI amount or loan tenure.
Are there prepayment penalties on loans?▼
Most modern consumer protection rules (including RBI guidelines) prohibit lenders from charging prepayment penalties on floating interest rate home loans taken by individual borrowers.
How does global currency selection work?▼
You can select your native currency (INR, USD, EUR, GBP, AUD, CAD, AED, SGD, JPY) in the top header. The calculator formats figures according to local currency standards.
Higher Education Loan Moratorium & Tax Guide
Education loans empower students to pursue undergraduate and postgraduate degrees globally. Unlike standard loans, education loans provide a moratorium (grace period) while studying.
Study Grace Period
Repayment usually starts 6 to 12 months after course completion or securing employment.
Section 80E Benefit
100% of interest paid on education loans is tax-deductible without any maximum monetary cap.
Simple Interest Tip
Paying simple interest during the study period reduces your overall loan principal before EMI starts.