Education Loan EMI Calculator

Education loan rates are typically 8.5-13% p.a. Public-sector banks like SBI, Canara, and BoB usually offer the lowest rates (8.5-10.5%). Female students often get a 0.5% concession, and loans under ₹7.5 lakh for study in India do not require collateral.

Yes. Education loans have a moratorium equal to the course duration plus 6-12 months after course completion. During moratorium, you can choose to pay only simple interest or nothing (interest gets capitalised).

Yes, under Section 80E the entire interest paid is deductible for up to 8 years from the start of EMI — no upper limit. This applies for loans taken for self, spouse, children, or a legal ward's higher education.

For loans up to ₹7.5 lakh (study in India) no collateral or third-party guarantee is needed under the CGFSEL scheme. For ₹7.5-40 lakh a third-party guarantor or property/FD collateral is usually required.

For Indian study, SBI Scholar Loan (for premier colleges) and PNB Saraswati offer competitive rates starting ~8.5%. For abroad studies, HDFC Credila and Avanse offer loans up to ₹1.5 crore with flexible collateral terms.