Make college memories that last a lot longer than your student loan payments.

Education Loan EMI Calculator

Calculate your Education Loan EMI & Total Interest Due

Loan Amount
Loan Amount:
Tenure in Months:
Interest Rate in %:
Processing Fee: (% of loan amount)
Would you like to make Pre-payments?
Pre-payment Frequency
Pre-payment starts in
Pre-payment amount
Loan Completion Month
Pre-payment Fee %
Pre-payment Applies to

Your Monthly Education Loan EMI: Rs 28,670

Monthly amount paid to your Education Loan provider

Break-up of all total amount payable
Loan Amount
Total Interest Due
Processing Fee
Loan Amount Via EMI
Loan Amount Prepaid
Total Interest
Processing Fee
Pre-payment Fee
Total Amount Payable
Your loan details as specified by you
Loan Amount
15 Years
Interest Rate
Processing Fee
Is your Credit Score good enough for getting a loan or card?

Your Repayment Details (Yearly/Monthly)

Your debt repayment schedule in regular instalments over a period of time.

Tab amortization
Principal Paid Interest Paid Outstanding Loan BalanceO/S Balance(Without Pre-payment) O/S Balance(With Pre-payment)
Year Principal Paid(A) Interest Paid(B) Total Payment (A+B) Outstanding Loan Balance Pre-payment
Pre-payment Analysis

(We've broken it down for you!)

SummaryTotal AmountTenure
Without Pre-payment Rupee 47,87,42610 yrs
With Pre-payment Rupee 45,33,7238years 4months
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How to use's EMI calculator to understand your loan repayment

The EMI Calculator (as displayed above) is a simple online tool that helps, as is obvious from the name, calculate your education loan’s Equated Monthly Installments (EMI). While the conventional means of completing this task may be deemed as tedious, time consuming and subjective, the same is accomplished quickly, accurately and with minimal inputs when this very friendly online tool is used.

Why use this EMI Calculator?

  • Extremely Fast- Calculate the education loan EMIs for your specific tenure and interest rate in mere seconds.
  • Simple- Calculation is based on the provision of four obvious and easily retrievable quantities. That’s it!!
  • Test Various Combinations- Supply different tenures, interest rates and see if you can find a combination that works the best for you.
  • 100% Free- This user friendly education loan calculator is completely free to use, now and forever.

Helping you Do More- EMI Calculator from BankBazaar:

Like they say, when in doubt, ask the expert. BankBazaar is a proven resource for all banking and finance related concerns and has been a steady influencer as a premier online banking products comparison website. When it comes to helping you find the perfect education loan in India, BankBazaar doesn’t want to leave any stones unturned. Thus, the education loan interest calculator is designed as a personal assistant, helping you simplify the tedious work associated with EMI calculations when it comes to education loans in India. Importantly, BankBazaar doesn’t treat educational loans as a ‘seasonal’ product, thereby ensuring that all the information and help you find on the website is constantly updated and ready for consumption.

Quoting an oft repeated expression, using the education loan interest calculator from BankBazaar is akin to child’s play. The interface is immensely simple and the tool is tuned to be user friendly, time saving and highly scalable. This comprehensive educational loan interest calculator will require the following inputs-

  1. Loan Amount- Update the loan amount applicable to you by marking it on the highly responsive slider.
  2. Tenure- Similar to the step above, mark the tenure applicable to your loan on the succeeding slider.
  3. Interest Rate in %- In this field, update the interest rate applicable to your educational loan.
  4. Processing Fee (% of Loan Amount) - Similar to the step above, update the processing fee applicable to your loan amount. If you aren’t certain about this fee, kindly consult the associated loan documents or enquire with your bank directly.
  5. Would you like to Make Pre-Payments? - A ‘Yes’ or ‘No’ question, mark the appropriate choice depending upon your decision (and availability of such an option from your bank’s end) to make pre-payments on your education loan. The education loan EMI calculator will take your choice into consideration, appropriately.
  6. Calculate- A final click on this button completes the process.

After the above mentioned inputs and the final push of the ‘Calculate’ button, the EMIs applicable to your educational loan in India, alongside other details such as information on amortization, are spread before you. The process took mere seconds from start to finish and highlights the reliable efficiency of the education loan calculator from BankBazaar.

A salient feature of the education loan repayment calculator is that it is highly customizable to your specific needs and requirements. Hence, you can furnish varying values in the requested fields (Amount, Tenure, Interest Rate and Processing Fee) to find custom results that help you understand the perfect configuration that works for you. Furthermore, it isn’t necessary to be a BankBazaar customer or someone with a done deal for an education loan to access this tool. The educational loan calculator from BankBazaar is free to use, remember?

This is a very handy option and will greatly reduce the repayment load off your able shoulders. If you come into some unexpected (or planned, both options work) cash, the same can be used as additional repayment in favor of your educational loan that directly eats into the principal repayment amount. If so, the updated EMIs can be calculated by simply appending the overall amount that you wish to prepay. The final calculation will now list the interest saved thanks to the reduction in the outstanding principal amount.

In simple terms, amortization relates to the systematic paying off of any debt that includes a pre-defined payment schedule inclusive of regular EMI payments over a pre-defined duration, that is also known as the loan tenure. When using the BankBazaar based EMI calculator for education loans, the detailed amortization schedule is displayed as part of the final EMI calculation. This detail is presented in a table format, is information driven, is customizable and allows you to clearly understand everything that you need to know about the applicable interest rate, principal amount that needs to be repaid, loan tenure, outstanding loan amount, etc. These details are especially important to individuals who wish to pre-close their loan accounts.

BankBazaar is committed to simplifying complex banking products for the ready consumption of the regular folk. In this light, people looking out for the finer details about education loans in India will find answers to all their requirements here. In an effort to enhance this smooth user experience, BankBazaar has appended value added additions, inclusive of the education loan repayment calculator, on the website, to provide its users a complete 360* experience when it comes to this crucial resource. Backed up by robust customer support and an innovation themed mind set, BankBazaar is determined to treat education loan as more than just a ‘seasonal’ product that attracts the highest attention through the crucial college admission season. Thus, the website features regularly updated information that caters to the inquisitive reader and researcher. The education loan calculator for India is another beneficial spoke in this comprehensive offering, and an extension of BankBazaar’s commitment to offer its visitors, the very best.

  1. What is an EMI?

    Short for Equated Monthly Instalment, an EMI is the agreed upon fixed monthly repayment amount that the borrower of the loan must repay to the lender. The EMI consists of two parts- the principal amount and the applicable interest.

  2. If not using this education loan calculator, how do I calculate my applicable EMIs?

    Fair warning, some boring Maths coming up. The equation is EMI = [P x R x (1+R) ^n] / [(1+R)^ n-1]. Herein, P= Principal loan amount, R= Applicable rate of interest, n= Number of monthly installments. As is obvious, manual EMI calculation is somewhat complicated, time consuming and very monotonous. Enter BankBazaar’s friendly education loan EMI calculator and the entire process is cut short to mere seconds.

  3. I’am not sure about the processing fee applicable to my education loan. What must I do?

    No problem. You can confirm upon this detail by checking out the documents accompanying your loan application, or consult the bank directly. The educational loan calculator featured on BankBazaar requires the input of the processing fee to correctly calculate the applicable EMIs.

  4. Wait a minute, will I be bombarded with advertisements or popups to apply for some education loan product after I’am done calculating my EMIs with this tool?

    No. BankBazaar is offering this education loan interest calculator as a courtesy to its users and not as a proxy vehicle to offload any financial product. Usage of this free tool is minus any strings attached- now and forever.

  5. Can I use this tool to calculate EMIs for an education loan offered by a non-Indian financial entity?

    Not a problem. This tool isn’t hardwired to any specific financial formulas or pre-determined inputs. All the calculations are based on inputs offered by you, at the specific time of usage. However, the limiting factors for this educational loan interest calculator will be the maximum loan amount and tenure that is maxed out at Rs. 1 Crore and 30 years respectively.

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Further Reading

Top picks from our Financial Expert

News About Education Loan EMI Calculator

  • Cap on Education Loan without security up by 2.5 lakhs in Jharkhand

    Posted on 27th June 2016

    Chief Minister of Jharkhand, Raghubar Das has directed banks and financial institutions in the state to increase the cap on education loans provided without security from Rs.4 lakhs to Rs.7.5 lakhs. This new loan quantum will be applicable for students from Scheduled Tribes and Backward communities in the state.

    Addressing the 55th review meeting of the state Level Bankers’ Committee on 11th May, he recognized the banks for their work under the MUDRA scheme. He was of the opinion that employment is a key tool to eradicate poverty and banks’ have a big role to play by ensuring distribution of education loans to the needy.

  • The Arivu Educational Loan Scheme has expanded opportunities for students

    Posted on 25th February 2016

    At an awareness programme held for the Arivu Educational Loan Scheme, The Minister of Municipal Administration and Minority Affairs, Qamarul Islam, said that this scheme has benefited many students. The Arivu Scheme has enable a large number of students coming from minority communities to pursue higher education. Over the last two years, 4,857 students from minorities in Karnataka had reaped the benefits of this educational loan. The loan is extended with a 2% service charge. The loan becomes repayable after the course is complete. The scheme has given out Rs. 113 crore to students to enable them to pursue engineering, medicine and other professional courses. Over the next five years, the State Government has proposed to allot Rs. 500 crore towards the Karnataka Minorities Development Corporation. This will enable the corporation to extend its financial assistance to more students.

  • Special Loan Schemes for Women Borrowers

    Posted on 1st February 2016

    Banks are offering attractive interest rates and better loan terms for women borrowers. Both public sector and private banks are offering special loans for women that includes home loans, vehicle loans, educational loans and unsecured loans. Banks also offer special benefits on loans where the women is named co-borrower. On home loans, SBI and ICICI Bank offer interest rates for women at 5 basis points lower. This amounts to a significant benefit with in the long run. Andhra Bank and Mahindra Bank offers special loans for women buying vehicles. Business loans for women also carry special benefits and interest rates to encourage women entrepreneurs. Syndicate Bank offers great deals on personal loans. Women also get attractive loans for buying furniture, electronic items and furniture and kitchen renovations.

  • Bihar Chief Minister Nitish Kumar Propagates Achievement of Higher Literacy Rate in the State

    Posted on 4th January 2016

    Chief Minister of Bihar, Mr. Nitish Kumar, has announced that Bihar must now focus on improving its literacy rate. Currently, as per the census reports, Bihar has the lowest literacy rate, standing at 63.82%. The state that has the highest literacy rate in India is Kerala, that reports a 93.93% literacy rate. The CM aims to make Bihar one of the top 5 states in India, in terms of literacy, by providing credit cards to students who are from financially weaker sections of the society. The CM also stipulated that an education loan of maximum Rs. 4 Lakh will be offered to students who wish to pursue higher education.

  • Tax benefits can now be claimed by parents on education loans.

    Posted on 14th December 2015

    The Pune Income-tax Appellate Tribunal has announced that it will allow tax deductions on the interest rates paid for education loans. This will be applicable on education loans procured for higher studies abroad. This move will be welcome by parents who have availed education loans for their children studying overseas. According to the 2015 `Open Doors Report, the number of Indian students pursuing education in the US has seen a rapid growth. The figures recorded include an increase of 29.4%, which translates to 1, 32,888.

  • Stuforia mobile application: A complete educational guide for students moving to the US

    Posted on 8th December 2015

    Aspiring students wishing to pursue their education abroad can now use the mobile application, Stuforia, to receive guidance regarding visa processing, college, study location, accommodation and even for getting education loans. The Stuforia app carries information on 800 US based colleges including details regarding courses, fees, cut-off marks and accommodation. This mobile application has been introduced by Venba Ventures, which is a travel consultancy firm based in Chennai. Stuforia also gives information on competitive examinations, eligibility, deadlines, fees, score range. templates, visa, education loans, insurance, sim cards, etc. The app is intended to provide a simple, one-stop platform for students applying for higher education abroad. Users of this application will have a dashboard to organise information, mark-sheets, shortlist universities, preserve documents and passport details. Students can easily identify a preferred college in the US to pursue their education, like any ‘Do It Yourself’ service. Venba Ventures also plans to establish tie-ups with universities in the US. Going forward, students can make payments to universities and agencies using the Stuforia application.

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