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Education Loan EMI Calculator
Estimate EMI on an education loan using the same reducing-balance formula Indian banks use.
Last updated 2026-09-18
Monthly EMI
₹19,410
Total interest
₹8,29,156
Total payment
₹23,29,156
Months
120
Amortization preview
| Month | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₹19,410 | ₹7,535 | ₹11,875 | ₹14,92,465 |
| 2 | ₹19,410 | ₹7,594 | ₹11,815 | ₹14,84,871 |
| 3 | ₹19,410 | ₹7,654 | ₹11,755 | ₹14,77,217 |
| 4 | ₹19,410 | ₹7,715 | ₹11,695 | ₹14,69,502 |
| 5 | ₹19,410 | ₹7,776 | ₹11,634 | ₹14,61,726 |
| 6 | ₹19,410 | ₹7,838 | ₹11,572 | ₹14,53,888 |
How it works
EMI = P × r × (1 + r)^n / ((1 + r)^n − 1).
How to use this calculator
- Enter the inputs shown above (amount, rate, tenure, income, or other fields).
- Read the live results — they update as you type.
- Check the formula, worked example, and assumptions on this page before you decide.
Formula
EMI = P × r × (1 + r)^n / ((1 + r)^n − 1).
Worked example
A ₹15 lakh education loan at 9.5% for 10 years has EMI of about ₹19,437.
Reading the result
Treat the output as a planning figure. Compare it with your sanction letter, payslip, or GST invoice rather than treating it as a filing or a loan offer.
See also: calculation methodology and disclaimer.
Frequently asked questions
Many education loans have a moratorium during the course plus 6–12 months. This tool prices a standard EMI from disbursal; enter the amount that will actually be repaid after the moratorium if interest has been added to principal.
Assumptions and limits
- This is a planning estimate. Your lender, employer, or tax officer may use different inputs or rounding.
Results are educational estimates, not tax, legal, investment, or medical advice, and not a loan offer. Verify filings and payments with the official authority or a qualified professional.