# Education Loan EMI Calculator

> 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.

Category: India tax & investing · Applies to: India · Last updated: 2026-10-29
Interactive calculator: https://calculators.geekmidst.com/calculators/india-education-loan-emi-calculator

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.

## Inputs
- Loan amount (default 1000000)
- Interest rate (per year) (unit %; default 12)
- Moratorium (course + grace period) (unit months; default 24)
- Repayment period (unit months; default 60)
- Interest during the moratorium (options: Added to the loan (simple interest), Added to the loan (compounded monthly), Paid every month as it falls due; default simple)
- Currency (default INR)

## Results
- EMI after the moratorium
- Balance when repayment starts
- Interest during the moratorium
- Total interest
- Total paid

## Formula

```
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]
```

Where:
- L: loan amount (all disbursed at the start)
- r: annual rate ÷ 12 ÷ 100
- m: moratorium months
- n: repayment months

## Worked example
1. Moratorium interest = 10,00,000 × 1% × 24 = ₹2,40,000, added to the loan.
2. Balance at repayment = ₹12,40,000.
3. 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.

## What the result means

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 and limits
- The whole loan is disbursed at the start; staged disbursements accrue less interest.
- The rate stays fixed.
- Interest subsidy schemes, processing fees and insurance are not included.
- Tax deduction for education-loan interest is not calculated.

## Questions

### Is interest charged during the moratorium?

Usually yes. It is either paid as you go or added to the loan when repayment starts; check your sanction letter.

### Should I pay interest during the course?

If you can, it lowers the balance you start repaying and the total interest.

## Related calculators
- [EMI Calculator](https://calculators.geekmidst.com/calculators/emi-calculator)
- [Loan Prepayment Calculator](https://calculators.geekmidst.com/calculators/india-emi-with-prepayment-calculator)
- [Loan Amortization Calculator](https://calculators.geekmidst.com/calculators/loan-amortization-calculator)
- [Simple Interest Calculator](https://calculators.geekmidst.com/calculators/simple-interest-calculator)
- [Student Loan Calculator](https://calculators.geekmidst.com/calculators/student-loan-calculator)

_This calculator gives estimates for planning. It is not financial advice, and lenders’ actual terms, fees and rounding may differ._

Source: GM¹X CalcVerse — https://calculators.geekmidst.com/calculators/india-education-loan-emi-calculator