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Education Loan EMI Calculator 2026: Monthly EMI & Total Interest
Calculate your Education Loan EMI instantly. Example: ₹10 Lakh at 10% for 7 years = ₹16,601 per month. Free, with a year-by-year schedule.
₹10 Lakh
Rates shown are examples. Check your bank's current rate.
Monthly EMI
₹16,601
- Principal: ₹10,00,000
- Total interest: ₹3,94,499
- Total payment: ₹13,94,499
EMI on a ₹10 Lakh Education Loan at 10%
| Tenure | EMI | Total interest |
|---|---|---|
| 5 years | ₹21,247 | ₹2,74,823 |
| 7 years | ₹16,601 | ₹3,94,499 |
| 12 years | ₹11,951 | ₹7,20,913 |
💡 Good to know
EMIs usually start after the course plus a moratorium. Interest paid on an education loan can be deducted under Section 80E (old regime).
Questions people ask
How is EMI calculated?+
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r the monthly interest rate (annual rate ÷ 12 ÷ 100) and n the number of months.
How can I reduce my EMI or total interest?+
A longer tenure lowers EMI but increases total interest. A lower rate, bigger down payment or part-prepayments reduce total interest the most.
Is this EMI calculator accurate?+
It uses the standard reducing-balance formula used by Indian banks. Your bank's final EMI may differ slightly due to fees, rounding or the date of disbursement.