What will your education loan really cost?
Enter the loan, the interest rate and how long you will study. See the monthly EMI, the interest that builds up while you study, and the total you will repay.
- Interest during study
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- Loan when EMIs start
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- Total interest
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- Total you repay
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Amount borrowed Interest
Assumes a fixed rate and simple interest during the study period, as most Indian lenders charge. Your bank's sanction letter has the exact terms.
Get a funding plan, on WhatsApp
- Loan options for your course and country
- Interest subsidy schemes you may qualify for
- A month-by-month repayment picture
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Prefer WhatsApp? Message a counsellor →Questions families ask
What is a moratorium on an education loan?
It is the period when you do not pay EMIs: usually the course length plus 6 to 12 months. Interest still runs during this time. If you do not pay it, it is added to the loan before EMIs begin.
Should I pay interest while studying?
If your family can, yes. Paying simple interest during the course keeps the loan amount from growing and lowers the EMI later.
Is education loan interest tax-deductible?
In India, interest paid on an education loan can be claimed under Section 80E for up to eight years from the year repayment starts. Check the current rules with a tax adviser.