Student Loan Calculator
Estimate the monthly payments for your education loan.
Loan Details
Payment Breakdown
Monthly EMI
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Principal Amount
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Total Interest
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Total Payment
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Understanding Your Education Loan
An education loan is a crucial financial tool that helps students pursue higher education without immediate financial constraints. This calculator helps you understand the monthly EMI you'll need to pay once the repayment period begins.
What is a Moratorium Period?
Most education loans in India come with a moratorium period, which is typically the course duration plus 6 to 12 months. During this period, you are not required to pay EMIs. However, the bank usually charges simple interest on the disbursed loan amount. This interest may be payable during the moratorium or added to the principal when EMIs begin. Note: This calculator assumes repayment starts immediately and does not factor in a moratorium period for simplicity.
Tax Benefits
Under Section 80E of the Income Tax Act, you can claim a deduction for the interest paid on an education loan. This deduction is available for up to 8 years, starting from the year you begin repayment.