تعلیمی قرض ای ایم آئی کیلکولیٹر

1. قرض کی رقم اور بینک کی پیش کردہ شرح سود (سالانہ) درج کریں۔
2. کورس کی مدت سالوں میں اور کورس کے بعد گریس پیریڈ مہینوں میں درج کریں (عام طور پر 6 یا 12 مہینے)۔ دونوں مل کر موریٹوریم بنتا ہے، جس دوران کوئی ای ایم آئی نہیں دینی ہوتی۔
3. ادائیگی کی مدت سالوں میں درج کریں۔ بینک قرض کیسے جاری کرتا ہے؟ میں سب شروع میں منتخب کریں، یا فیس کی ادائیگی کے وقت کے حساب سے سال بہ سال۔
4. پڑھائی کے دوران سود میں قرض میں جڑ جاتا ہے (عام صورت) یا ہر مہینے ادا کرنا ہے منتخب کریں۔
5. آپ کی ماہانہ ای ایم آئی، ای ایم آئی شروع ہونے پر قرض، کل سود اور کل ادائیگی آپ کے ٹائپ کرتے ہی بدل جاتے ہیں۔ چارٹ اور سال بہ سال شیڈول کے لیے نیچے اسکرول کریں۔

How an education loan EMI works

An education loan doesn't start with an EMI. While you study, and for a grace period after the course (often 6 or 12 months, or until you get a job if that's sooner), you don't have to repay anything. This is the moratorium. Interest is still charged during it, and what happens to that interest decides how big your EMI will be. This education loan EMI calculator works out both phases.

Interest during the moratorium

Banks normally charge simple interest on the amount actually paid out during the moratorium. If you don't pay it, it is added to the loan when repayment starts, and your EMI is calculated on the bigger amount. That's the common practice under the IBA model education loan scheme followed by most public sector banks, and it's what the "added to the loan" option does.

Here L is the loan when EMIs start, r the monthly rate (annual rate ÷ 12 ÷ 100) and n the number of EMIs. Some lenders compound the moratorium interest or offer a small rate cut if you pay it while studying; ask yours.

Example: ₹10 lakh for a 2-year master's

A ₹10 lakh loan at 10%, paid out at the start of a 2-year course, with a 12-month grace period and 10 years to repay:

Paying the interest as it falls due saves about ₹1.76 lakh here, because the added interest itself earns interest for 10 years. If a parent can pay ₹8,000 to ₹9,000 a month during the course, it's usually worth it. If the bank pays the fees year by year, interest builds up more slowly, which you can see with the "Year by year" option.

Tax deduction on the interest (section 80E)

The interest you pay on a loan for higher education is fully deductible from your taxable income, with no upper limit. Principal repayments get nothing. Points to know:

• The loan must be from a bank, financial institution or approved charitable institution, for your own studies or those of your spouse, children, or a student you are the legal guardian of.
• The deduction runs for the year you start paying interest and the 7 years after it (8 years in all), or until the interest is fully paid, if sooner.
• It is available only in the old tax regime. From tax year 2026-27 the same deduction is section 129 of the Income-tax Act, 2025.

Applying for the loan

Education loans to Indian banks are applied for through the government's PM-Vidyalaxmi portal (pmvidyalaxmi.co.in), launched in November 2024, where you can compare and apply to several banks with one form. Students admitted to eligible institutions can get collateral-free loans, and those with a family income up to ₹8 lakh a year can get a 3% interest subsidy on loans up to ₹10 lakh. Check the current terms on the portal before you rely on them.