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About this tool
Education loan EMI with course moratorium, simple interest accrual and the option to service interest while studying.
This Education Loan EMI Calculator models the two phases of a student loan: the moratorium, where banks charge simple interest through the course plus a grace period of usually six months to a year, and the repayment phase, where EMIs run on a reducing balance. It shows how much interest is capitalised into your principal if you pay nothing while studying, and how the EMI changes if you service that interest monthly instead. Useful for students and co-applicants comparing offers before signing a sanction letter.
Open Education Loan EMI Calculator on AltFTool — it loads instantly in your browser.
Enter Loan amount (INR), Interest rate (% per year), Course duration (years), Grace period after course (months) and Repayment tenure (years).
Set During the moratorium to either "Pay nothing — interest is capitalised" or "Pay simple interest every month", adding a Rate concession for servicing (% points) if your bank offers one.
Read the EMI after the moratorium headline, the interest capitalised into the principal, and the two-phase Repayment timeline, then press Copy result.
Simple interest through the course, then capitalisation into the principal.
See in one switch what paying interest while studying saves overall.
Month-by-month phases from first disbursal to the last EMI.
It is the period when no EMI is due — the course duration plus a grace period, typically 6 to 12 months after the course ends. Interest still accrues during this time.
If you do not pay the interest that accrues while studying, banks capitalise it — the accrued simple interest is added to the loan, and EMIs are then calculated on the larger amount.
It usually reduces total cost twice over: the interest is never capitalised, and many banks give a rate concession of around 0.5 to 1 percentage point for servicing it. Switch the moratorium dropdown to see the difference on your own numbers.
Section 80E of the Income Tax Act allows a deduction on the interest paid on an education loan taken for higher studies, for up to 8 years from when repayment starts, with no upper limit on the amount and no deduction on principal. This is general information, not tax advice — confirm eligibility with a qualified professional.
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