Education Loan at a glance
- Typical rates: about 8–13% p.a.; abroad-study loans are often higher.
- Tenure: up to 15 years after the moratorium (course period + 6–12 months).
- Tax: The entire interest paid is deductible under Section 80E for up to 8 years (old regime), with no upper limit.
Tips before you borrow
- Interest during the moratorium is usually added to the loan; paying it while studying reduces the burden.
- Government schemes and collateral-free limits differ by bank; compare carefully for abroad studies.
- Use the EMI to check whether the expected salary after the course can repay it comfortably.
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How to use the 🎓 Education Loan EMI Calculator tool
- Enter the education loan amount, interest rate and tenure, or tap a quick option.
- See the EMI, total interest and year-wise schedule.
- Try a prepayment to see the interest you save.
Why SaralKit?
- Free forever: no "credits", no trial, no premium tier, no watermark and no daily limit.
- No account, ever: nothing to sign up for. Just open the page and use it.
- No data stored: your files and the numbers you type are processed by your own browser. We never upload, store or see them.
- Works offline: once the page has loaded, most tools keep working without internet.
- Open source: anyone can read the code on GitHub.
Frequently asked questions
What is the EMI for a ₹15,00,000 education loan?
At 10% for 10 years, the EMI is about ₹19,823 a month, and total interest is about ₹8,78,713.
What are typical education loan interest rates?
In India, about 8–13% p.a.; abroad-study loans are often higher. Your rate depends on your credit score, income and lender.
Are there tax benefits on a education loan?
The entire interest paid is deductible under Section 80E for up to 8 years (old regime), with no upper limit.
How much tenure can I get?
Education Loans are usually offered for up to 15 years after the moratorium (course period + 6–12 months).