{
    "name": "Education Loan EMI Calculator",
    "url": "https://calculators.geekmidst.com/calculators/india-education-loan-emi-calculator",
    "markdown": "https://calculators.geekmidst.com/calculators/india-education-loan-emi-calculator.md",
    "category": "India tax & investing",
    "description": "Work out the EMI on a student loan after the course and grace (moratorium) period, with interest during the moratorium paid, added simply or compounded.",
    "summary": "Education loans usually start repayment after the course plus a grace period. Interest still runs during that moratorium, and how it is handled changes the EMI.",
    "also_called": [
        "Student loan EMI calculator"
    ],
    "applies_to": "India",
    "last_updated": "2026-10-29",
    "computation": "Results are computed in the visitor’s browser on the HTML page. This API describes the calculator; it does not compute results.",
    "inputs": [
        {
            "name": "amount",
            "label": "Loan amount",
            "type": "number",
            "default": "1000000"
        },
        {
            "name": "rate",
            "label": "Interest rate (per year)",
            "type": "number",
            "default": "12",
            "unit": "%"
        },
        {
            "name": "moratorium",
            "label": "Moratorium (course + grace period)",
            "type": "number",
            "default": "24",
            "unit": "months"
        },
        {
            "name": "repay_months",
            "label": "Repayment period",
            "type": "number",
            "default": "60",
            "unit": "months"
        },
        {
            "name": "moratorium_interest",
            "label": "Interest during the moratorium",
            "type": "select",
            "default": "simple",
            "options": {
                "simple": "Added to the loan (simple interest)",
                "compound": "Added to the loan (compounded monthly)",
                "paid": "Paid every month as it falls due"
            }
        },
        {
            "name": "currency",
            "label": "Currency",
            "type": "hidden",
            "default": "INR"
        }
    ],
    "outputs": [
        {
            "key": "emi",
            "label": "EMI after the moratorium",
            "format": "currency"
        },
        {
            "key": "repay_principal",
            "label": "Balance when repayment starts",
            "format": "currency"
        },
        {
            "key": "moratorium_interest",
            "label": "Interest during the moratorium",
            "format": "currency"
        },
        {
            "key": "total_interest",
            "label": "Total interest",
            "format": "currency"
        },
        {
            "key": "total_paid",
            "label": "Total paid",
            "format": "currency"
        }
    ],
    "formula": {
        "text": "Simple: Balance = L × (1 + r × m); Compounded: Balance = L × (1 + r)^m; Paid: Balance = L. EMI = Balance × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1]",
        "variables": {
            "L": "loan amount (all disbursed at the start)",
            "r": "annual rate ÷ 12 ÷ 100",
            "m": "moratorium months",
            "n": "repayment months"
        }
    },
    "worked_example": {
        "inputs": {
            "amount": "1000000",
            "rate": "12",
            "moratorium": "24",
            "repay_months": "60",
            "moratorium_interest": "simple",
            "currency": "INR"
        },
        "steps": [
            "Moratorium interest = 10,00,000 × 1% × 24 = ₹2,40,000, added to the loan.",
            "Balance at repayment = ₹12,40,000.",
            "EMI over 60 months at 1% a month = ₹27,583.12."
        ],
        "result": "A ₹10 lakh loan at 12% with a two-year moratorium becomes ₹12.4 lakh, repaid at about ₹27,583 a month for five years."
    },
    "interpretation": "Paying the moratorium interest as it falls due (₹10,000 a month in the example) keeps the EMI at the level of the original loan, ₹22,244, and cuts total interest.",
    "assumptions": [
        "The whole loan is disbursed at the start; staged disbursements accrue less interest.",
        "The rate stays fixed."
    ],
    "limitations": [
        "Interest subsidy schemes, processing fees and insurance are not included.",
        "Tax deduction for education-loan interest is not calculated."
    ],
    "rules": null,
    "faqs": [
        {
            "question": "Is interest charged during the moratorium?",
            "answer": "Usually yes. It is either paid as you go or added to the loan when repayment starts; check your sanction letter."
        },
        {
            "question": "Should I pay interest during the course?",
            "answer": "If you can, it lowers the balance you start repaying and the total interest."
        }
    ],
    "sources": [],
    "related": [
        {
            "name": "EMI Calculator",
            "url": "https://calculators.geekmidst.com/calculators/emi-calculator"
        },
        {
            "name": "Loan Prepayment Calculator",
            "url": "https://calculators.geekmidst.com/calculators/india-emi-with-prepayment-calculator"
        },
        {
            "name": "Loan Amortization Calculator",
            "url": "https://calculators.geekmidst.com/calculators/loan-amortization-calculator"
        },
        {
            "name": "Simple Interest Calculator",
            "url": "https://calculators.geekmidst.com/calculators/simple-interest-calculator"
        },
        {
            "name": "Student Loan Calculator",
            "url": "https://calculators.geekmidst.com/calculators/student-loan-calculator"
        }
    ],
    "disclaimer": "This calculator gives estimates for planning. It is not financial advice, and lenders’ actual terms, fees and rounding may differ.",
    "publisher": "GM¹X CalcVerse"
}