Education Loan Calculator — ₹20 Lakh for Higher Studies
A ₹20 lakh education loan at 9.5% with 2-year moratorium and 10-year repayment: EMI ₹31,297. Total payable: ₹41.35 lakh. Moratorium interest adds ₹3.97 lakh to 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 — ₹20 Lakh for Higher Studies
Do I need collateral for a ₹20 lakh education loan?
Yes, most banks require collateral (property, FDs, etc.) for education loans above ₹7.5-10 lakh. SBI, Bank of Baroda, and Canara Bank offer collateral-free loans up to ₹7.5 lakh. For ₹20 lakh, collateral security is typically mandatory.