Calculate your education loan EMI

A grace period during studies + 6-12 months after course completion when you don't have to pay EMIs. Interest does accrue during this time and gets added to the loan principal. Most education loans offer 1-1.5 years moratorium.

Yes. Section 80E allows full deduction of interest paid on education loans, for up to 8 years from when EMIs start. No upper limit on amount. Only the interest is deductible — not the principal.

Public sector banks: 8.5-11% for loans up to ₹4L (no collateral), higher above. Private banks: 11-15%. Foreign education loans: 9-12%. Rates vary based on institution, course, and collateral.

Yes. Floating-rate education loans cannot charge prepayment penalty as per RBI guidelines. You can do part-prepayments anytime and reduce either tenure or EMI.

Loans up to ₹4L: no collateral needed. ₹4L-7.5L: third-party guarantor required. Above ₹7.5L: tangible collateral (property, FD) required at most banks.

Personal loan EMIs start immediately at higher rates (14-24%). Education loan EMIs start after moratorium at lower rates (8-12%) and have tax benefits — much cheaper.

Shorter: lower total interest but higher EMI. Longer: easier on monthly cash flow but more interest. For a graduate just starting work, 5-7 years is typical.

Talk to the bank for restructuring — they often allow extended moratorium for genuine reasons (no job, lower income). Skipping EMIs without telling the bank damages your CIBIL score.