Repayment type | Moratorium | PSI | SI | Direct EMI |

EMI during moratorium period | ₹ 0 | ₹ 0 | ₹ 0 | NA |

EMI post moratorium period | ₹ 0 | ₹ 0 | ₹ 0 | ₹ 0 |

Year | Principal outstanding | EMI paid (A+B) | Principal paid (A) | Interest paid (B) |

Principal

₹25,00,000

Interest

₹20,52,531

Total amount

₹45,52,531

EMI during moratorium

₹ 0

EMI post moratorium

₹ 0

Principal

₹25,00,000

Interest

₹20,52,531

Total amount

₹45,52,531

EMI during moratorium

₹ 0

EMI post moratorium

₹ 0

Repayment type | Moratorium | PSI | SI | Direct EMI |

EMI during moratorium period | ₹ 0 | ₹ 0 | ₹ 0 | NA |

EMI post moratorium period | ₹ 0 | ₹ 0 | ₹ 0 | ₹ 0 |

Year | Principal outstanding | EMI paid (A+B) | Principal paid (A) | Interest paid (B) |

This is an online tool that helps you calculate Equated Monthly Instalments a.k.a EMIs of your education loan. It is an easy to use tool that is user friendly and less time consuming.

You can either use an education loan calculator where you can manually enter the amount or calculate it using a mathematical formula EMI amount = [P x R x (1+R)^N]/[(1+R)^N-1] where P, R, and N are the variables. It also implies that the EMI value will change if you change any of the three variables. ‘P’ is the Principal Amount. ‘R’ is the Rate of Interest offered by the bank and N is the number of years in which you have to repay the loan.

Repayment methods are of generally 4 types:

- Direct/Full EMI- In this repayment method, once the disbursement is done the EMI starts from next month. Here the EMI includes Principal as well as Interest component.
- Simple/Full interest- In this repayment method the borrower has to pay only the interest component part during the course duration and moratorium period. Post moratorium period, borrower has to pay the principal amount along with the interest component.
- Partial Simple Interest- In this repayment method the borrower pays a fixed amount which is generally in the range of 2k to 11k as monthly EMI during the course duration and moratorium period. Post moratorium period, borrower has to pay the principal amount along with the interest component.
- Complete/Full Moratorium- In this method, students do not have to pay even a single penny during the course duration and moratorium period. Here the EMI starts after the moratorium period which includes Principal as well as Interest component.

Advantages of an Education Loan EMI Calculator:

- It enables you to easily calculate the amount of loan that you have to pay
- It provides the amount of EMI you would have to pay each month
- This will help you in budgeting and enable savings for your financial goals
- It is easy to access and you can use it anytime and anywhere

EMI Calculator is used in the following ways:

- Amount: The amount of loan that you require should be updated in the loan amount indicator on the calculator.
- Tenure: This will provide the information on how long you would prefer to shorten or extend your loan tenure. It provides you the time period within which you will be paying your EMIs. It is to be noted that the period of tenure is inversely proportional to the amount of EMI.
- Interest Rate: It is different for every bank and you can enter the specific interest rate for a loan.

No, the education loan EMI calculator will provide you the information about how much EMI you have to pay for each month along with the interest rate while the education loan interest calculator provides you the information about how much interest you will have to pay on your loan amount.

Yes, an EMI loan calculator allows you to compare the amount depending on the different interest rate offered by various banks.

An EMI calculator provides you the information about the EMI on a particular amount of loan, loan tenure and interest rate. A moratorium calculator returns an increase in EMI, interest rate or tenure on a particular loan amount balance. Loan moratorium does not mean that loan payments must stop for a certain amount of time. If the lender takes the benefit of the moratorium, the bank will increase the EMI, interest rate, or term once the moratorium period has ended in order to make up for the money that was not paid during that time.