Education Loan Calculator — ₹10 Lakh Student Loan
A ₹10 lakh education loan at 9.5% with 2-year moratorium and 10-year repayment: EMI ₹15,648. Total payable: ₹20.68 lakh. Moratorium interest adds ₹1.99 lakh to your effective principal.
Monthly EMI
₹23,097
Total Payable
₹27,71,696
Accrued Interest (Moratorium)
₹2,85,000
Effective Principal
₹17,85,000
Interest accrues (simple) during the course + 6-12 month grace period (moratorium). EMI starts after moratorium ends. Interest paid during repayment is deductible under Section 80E (no upper limit).
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Common questions about Education Loan Calculator — ₹10 Lakh Student Loan
What is the EMI for a ₹10 lakh education loan?
At 9.5% with a 2-year moratorium and 10-year repayment, your EMI would be approximately ₹15,648. During the moratorium period, interest accrues (₹1.99 lakh) and gets added to your principal, making the effective loan ₹11.99 lakh.
Is education loan interest tax deductible?
Yes, under Section 80E, the entire interest paid on an education loan is deductible from taxable income — there is no upper limit. This benefit is available for 8 consecutive years from the year you start repaying.