Education Loan EMI Calculator

Reviewed by Abhishek Kumar · June 16, 2026 · 9 min read

Frequently Asked Questions (FAQs)

It is a repayment holiday during the course duration plus a grace period (usually 1 year) before EMIs begin.

Yes, simple interest accumulates during the moratorium. Paying this interest during your studies prevents interest capitalization.

Yes, the entire interest paid is eligible for tax deduction under Section 80E with no upper limit for up to 8 years.

Yes, a parent, guardian, or spouse must sign as a co-borrower to guarantee repayment.

Loans up to ₹7.5 Lakhs under government schemes usually require no collateral. Higher amounts require tangible security (property/FDs).

The maximum repayment tenure after the moratorium is 15 years.

Tuition fees, hostel charges, exam fees, book costs, library deposits, and laptop/travel expenses are covered.

No, Indian banks do not charge any prepayment or foreclosure penalties on education loans.

Yes, banks offer specialized schemes for student visas and foreign universities, funding up to ₹1.5 Crores.

Under Central Government schemes, students from weaker sections get full interest subsidy during the moratorium period.