Student Loan Calculator: EMI, Moratorium Interest and Total Cost

Education loans usually start charging interest while you study. Enter the loan, rate, course length, moratorium and repayment term, and choose whether interest is paid during study or added to the loan.

FreeNo sign-upRuns in your browserUpdated 2 Nov 2026
₹
years
Often 6 or 12 months after the course.
years
Your resultLive

Estimates only. Check important results before you rely on them.

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How to use this calculator

  1. Enter the loan amount and the interest rate.
  2. Enter the course length and any extra moratorium.
  3. Enter how many years you will take to repay.
  4. Choose whether interest is paid during study or added to the loan.

The formula

Interest during study = Loan × Rate × Years of study and moratorium (simple interest). If it is added, new loan balance = Loan + that interest. EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate and n the number of EMIs.

Worked example

A ₹10,00,000 loan at 9.5% for a 4-year course plus 6 months gives ₹4,27,500 of interest. Added to the loan, the balance becomes ₹14,27,500 and the EMI over 7 years is about ₹23,331. If you pay the interest while studying, the EMI is about ₹16,344.

Understanding your result

Adding interest to the loan raises both the EMI and the total cost. Paying even the interest during the course keeps the balance at the original loan amount.

When to use it

  • Plan your repayment before borrowing.
  • Compare paying interest early with letting it add up.
  • Understand total cost, not just EMI.

Assumptions and limits

Uses simple interest during study and monthly reducing interest in repayment. Banks may charge processing fees, differ in how they capitalise interest and offer subsidies (for example the interest subsidy scheme for eligible students). Check your sanction letter.

Frequently asked questions

What is a moratorium on a student loan?

The period during the course plus a grace period after it when you do not need to pay EMIs. Interest still builds up.

Does interest accrue during the course?

Usually yes. Some schemes subsidise it for eligible students.

Is it better to pay interest while studying?

It lowers your EMI and total cost, because the loan does not grow.

What EMI formula is used?

The standard reducing-balance formula, with the balance at the start of repayment as the principal.

Does this include processing fees?

No. Add them separately.