Education Loan EMI Calculator 2026
Calculate student loan EMIs with moratorium period and Section 80E interest benefits
EMI Calculator Summary
EMI Payment / Year
Your Repayment/Breakup Details (Monthly)
Your debt repayment schedule in regular instalments over a period of time.
| Year | Principal Amount | Total Interest | Total Amount | Balance |
|---|---|---|---|---|
| 2026▼ | ₹37,516 | ₹37,189 | ₹74,705 | ₹14,62,484 |
| Oct | ₹12,402 | ₹12,500 | ₹24,902 | ₹14,87,598 |
| Nov | ₹12,505 | ₹12,397 | ₹24,902 | ₹14,75,093 |
| Dec | ₹12,609 | ₹12,292 | ₹24,902 | ₹14,62,484 |
| 2027▶ | ₹1,59,764 | ₹1,39,058 | ₹2,98,821 | ₹13,02,720 |
| 2028▶ | ₹1,76,493 | ₹1,22,328 | ₹2,98,821 | ₹11,26,227 |
| 2029▶ | ₹1,94,974 | ₹1,03,847 | ₹2,98,821 | ₹9,31,253 |
| 2030▶ | ₹2,15,391 | ₹83,431 | ₹2,98,821 | ₹7,15,862 |
| 2031▶ | ₹2,37,945 | ₹60,876 | ₹2,98,821 | ₹4,77,917 |
| 2032▶ | ₹2,62,861 | ₹35,961 | ₹2,98,821 | ₹2,15,056 |
| 2033▶ | ₹2,15,056 | ₹9,060 | ₹2,24,116 | ₹0 |
Formula used by EMI Calculator
=PMT(rate ( 0.0083 ), nper ( 84 ), pv ( ₹15,00,000 )) = ₹24,902=IPMT(pv ( ₹15,00,000 ), pmt ( ₹24,902 ), rate ( 0.0083 ), per ( 0 )) = ₹12,500=PPMT(rate ( 0.0083 ), per ( 0 ), nper ( 84 ), pv ( ₹15,00,000 )) = ₹12,402Loans & EMI
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Long-Tail pSEO Target PresetsHigher Education Financing: Leveraging Grace Moratoriums and Section 80E Relief
Education loans feature a specialized structure designed for academic journeys: a moratorium period spanning the course duration plus an additional 6 to 12-month grace window before mandatory EMI repayments initiate. Furthermore, Section 80E of the Indian Income Tax Act provides an unlimited tax deduction for interest paid across 8 consecutive years.
Moratorium Simple Interest Advantage
During the study course, lenders levy simple interest rather than compound interest. Servicing simple interest monthly during college prevents interest from capitalizing onto the principal upon graduation, saving lakhs in post-study EMIs.
Section 80E Tax Deduction (No Upper Cap)
Unlike Section 80C or 24(b) which impose statutory ceilings, Section 80E allows you (or your parent co-borrower) to deduct the entire interest amount paid from taxable income for up to 8 assessment years without any upper limit.
Education Loan & Section 80E Tax FAQs
Practical guidance for students, parents, and study-abroad aspirants.
What is the maximum deduction allowed under Section 80E for education loan interest?
Section 80E provides a 100% tax deduction on the actual interest paid on higher education loans with zero upper monetary ceiling. The deduction is available for a maximum period of 8 consecutive assessment years starting from the year repayment begins.
Who is eligible to claim the Section 80E deduction?
The individual who is legally servicing the loan interest can claim the deduction. This can be the student (once employed) or the parent/spouse who took the loan as the primary or co-borrower.
Is collateral required for education loans in India?
Under Indian Banks’ Association (IBA) guidelines: loans up to ₹4 Lakhs require no collateral or third-party guarantee; loans between ₹4 Lakhs and ₹7.5 Lakhs require a suitable third-party guarantee; loans exceeding ₹7.5 Lakhs typically mandate tangible collateral security (property, fixed deposits, or surrender-value insurance).
Can I service simple interest during the moratorium period?
Yes. Many public sector banks offer an interest rate concession of up to 1.00% if the borrower chooses to pay the accrued simple interest monthly during the study and moratorium period.