🎓 Education Loan EMI Calculator

Plan your education financing with accurate EMI calculations

₹
₹50K₹2 Cr
%
6%15%
Years
5 Yrs15 Yrs
Monthly EMI
₹12,668
Payable for 120 months

Payment Breakdown

Principal Amount ₹10,00,000
Total Interest ₹5,20,220
Total Amount Payable ₹15,20,220

About Education Loan

Education loans help students finance their higher education in India or abroad. These loans cover tuition fees, accommodation, books, and other related expenses.

Types of Education Loans

  • Domestic Education Loan: For studies within India
  • Abroad Education Loan: For international studies
  • Career Development Loan: For professional courses
  • Skill Development Loan: For vocational training

Key Features

  • Loan amount: Up to ₹20 lakhs for India, ₹1.5 crore for abroad
  • Interest rates: 8-15% per annum
  • Repayment starts after course completion + 6-12 months
  • Tax benefit: Interest deduction under Section 80E
  • Moratorium period: No EMI during study + grace period

Eligibility Requirements

  • Indian resident or co-applicant must be resident
  • Admission to recognized institution required
  • For loans above ₹7.5L, collateral may be required
  • Co-applicant (parent/guardian) mandatory
  • Age: Typically 18-35 years

Documents Required

  • Admission letter from institution
  • Academic records and mark sheets
  • Identity and address proof
  • Income proof of co-applicant
  • Collateral documents (if applicable)