Education Loan EMI & Moratorium Calculator

Calculate monthly EMIs, study period accrued interest, Section 80E tax savings, and check unsecured eligibility.

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Configure Your Loan Details

Select a Rate Preset:

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Loan Amount (Principal)

Enter or slide to choose loan amount from ₹1 Lakh to ₹40 Lakhs.

Annual Interest Rate (%) %

Repayment Tenure (Years) {[3, 5, 7, 10, 12, 15].map(y => ( ))}

Moratorium Period (Years) {[1, 2, 3, 4, 5].map(y => ( ))}

Interest During Moratorium (Study Period)

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Amortization Schedule (Yearly View)

See how much principal and interest you pay off each year over your year tenure.

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Year	Principal Paid	Interest Paid	Total Paid (Annual)	Outstanding Balance
Year

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Section 80E Tax Savings Calculator

Select Your Income Tax Bracket: Deductions apply to interest paid on education loans for self, spouse, or children.

Deduction Available For:

8 Years Max

Estimated Tax Saved (Total):

💡 Section 80E Details: There is no upper limit on the amount of interest you can deduct. You can claim the entire interest amount paid during the financial year from your taxable income.

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Unsecured Eligibility Check

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Central Sector Interest Subsidy (CSIS)

Under the Government of India's CSIS scheme, students from families with an annual income below ₹4.5 Lakhs can claim a 100% interest subsidy during the moratorium period (study duration + 1 year). The interest is paid by the Government, so your repayment principal remains exactly what you borrowed without any accrued study interest. Select "Pay simple interest monthly" to calculate the EMI if you qualify for this subsidy.

EMI Estimate

per month after graduation

Original Loan Amount (Principal):

Study Period Interest ( Yrs):

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Principal at Repayment Start:

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Monthly Interest Paid (Studies): {formatCurrency(Math.round(moratoriumInterest / (moratoriumYears * 12)))} /mo

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Total Interest Component:

Total Payment (P + I):

Compare Collateral-Free Loans

📋 Key Loan Documents

Admission Proof: College Allotment Order or seat confirmation letter.
Fee Structure: Genuine certificate issued by college detailing annual components.
Co-Applicant Income: Last 3 years ITR, Form 16, and 6 months bank statements.
Academic Records: Class 10/12 Marks memos and EAPCET Rank card.

State Bank of India (SBI) vs. Private NBFCs Comparison

Feature	Public Banks (SBI)	Private NBFCs (HDFC Credila)	Collateral-Free Limit
Interest Rates	8.15% - 9.50% (Lower)	10.25% - 12.50% (Higher)	Up to 8.15% for premier institutions
Processing Time	15 - 30 working days	3 - 7 working days	Public sector is slow, Private is fast
Collateral Requirement	No collateral up to ₹7.5 Lakhs (CGFSEL)	No collateral up to ₹15 - 20 Lakhs (high criteria)	Unsecured loans depend on co-borrower income
Processing Fees	Nil under ₹20 Lakhs	1.0% - 1.5% of loan amount	Varies by bank guidelines

Frequently Asked Questions (FAQs)

What is the Vidya Lakshmi Portal?

Vidya Lakshmi is a single portal for students seeking Education Loans, developed under the guidance of the Ministry of Finance. Students can view, apply, and track education loan applications with multiple banks simultaneously.

How is interest calculated during the moratorium (study period)?

Most banks calculate simple interest during the study period. If you do not pay this interest monthly, it gets added to your principal amount at the end of the moratorium (just before repayment starts). This process increases your effective principal, and your EMI is calculated on this higher amount.