Education loan EMI calculator
Indicative — banks compound and structure moratorium differently; confirm with your lender's schedule
A ₹40 lakh MS loan is really a "₹62 lakh over 10 years" decision. See the honest number before you sign — EMI, total interest, and what the moratorium quietly adds.
| Principal at repayment start | — |
| Moratorium interest added | — |
| Total interest over tenure | — |
| Total repayment | — |
Quick reference (10.5%, 10-year tenure, 30-month moratorium unpaid)
| Loan | ≈ EMI/month | ≈ Total repayment | Typical use |
|---|---|---|---|
| ₹10 lakh | ~₹17k | ~₹21 lakh | BTech / MTech in India |
| ₹20 lakh | ~₹34k | ~₹41 lakh | Germany / Ireland MS |
| ₹40 lakh | ~₹68k | ~₹82 lakh | UK / Canada / mid-cost US MS |
| ₹60 lakh | ~₹1.02L | ~₹1.23 crore | Full-cost US MS |
The degree decides whether the EMI is easy or crushing
Admission interviews, visa interviews, assistantship interviews — the conversations that decide your funding are all practisable. Phiny's AI runs them free, unlimited.
Start a free AI mock interviewFrequently asked questions
What happens to interest during the course (moratorium)?
During study plus the grace period, you usually don't pay EMIs — but simple interest accrues on whatever has been disbursed. If unpaid, it's added to your principal when repayment starts, so a ₹20 lakh loan can become a ₹24+ lakh repayment base. Paying just the interest during study keeps the principal from growing — the single best trick in education loans.
Public bank vs NBFC — which loan is better?
Public banks (SBI, Union, BoB): lower rates (~8.5–10.5%), usually need collateral above ₹7.5 lakh, slower processing. NBFCs (HDFC Credila, Avanse, Auxilo): faster, collateral-free at higher amounts, but 11–14% rates. Compare the TOTAL 10-year cost with this calculator, not the sanction speed.
Is there tax benefit on education loans?
Section 80E allows deduction of the full interest paid (no cap) for up to 8 years — but only under the OLD tax regime. Under the new regime (default), 80E doesn't apply. Factor this into the real cost comparison.
How much EMI can I actually afford after MS?
A common rule: EMI under 30–40% of expected monthly in-hand. A $80k US salary supports almost any Indian education-loan EMI; a ₹6 LPA Indian salary supports roughly ₹15–18k/month — which is why the country you work in after the degree matters more than the loan rate.
Related guides
- Best countries for masters abroad — where the same loan buys the most.
- MS in USA: the full cost breakdown
- MTech via GATE vs MS abroad — the zero-debt alternative.