Education Loan
EMI Calculator
Calculate your monthly EMI, total interest, and full repayment schedule. Supports moratorium period, government subsidy schemes, and all major bank rates for Rajasthan students.
Education Loan EMI Calculator
Enter your loan details below. Add a moratorium period if your bank offers one — common for all student loans during the course duration.
Education Loan Interest Rates — Major Banks 2026
| Bank / Scheme | Interest Rate | Max Loan | Moratorium | Collateral |
|---|---|---|---|---|
| SBI Student / Scholar Loan | 8.65% – 11.15% | ₹20L (no collateral) / ₹1.5Cr | Course + 12 months | Required above ₹7.5L |
| PNB Saraswati / Udaan | 8.55% – 10.90% | ₹10L / No limit | Course + 12 months | Required above ₹7.5L |
| Canara Bank Vidya Turant | 8.90% – 10.50% | ₹40L | Course + 6 months | Required above ₹7.5L |
| Bank of Baroda Baroda Vidya | 9.15% – 11.00% | ₹80L | Course + 12 months | Required above ₹7.5L |
| HDFC Credila Education Loan | 9.50% – 13.50% | No limit | Course + 12 months | Always required |
| Axis Bank Education Loan | 9.70% – 14.95% | ₹75L | Course + 12 months | Case-by-case |
| CSIS Government Subsidy | Moratorium = 0% (subsidy) | Up to ₹7.5L | Fully subsidised | Not required |
| Padho Pardesh (Minority) | Moratorium = 0% (subsidy) | Up to ₹20L | Fully subsidised | Required above ₹7.5L |
How to Use This Education Loan EMI Calculator
Enter your loan amount, the annual interest rate quoted by your bank, and the repayment tenure in years. If your bank includes a moratorium period, enter its duration in months and choose how the bank handles interest during that window. The calculator shows your exact monthly EMI, total interest payable, a principal vs interest breakdown chart, and a complete month-by-month repayment schedule.
Use the quick-fill rate buttons to instantly load the current indicative rate for SBI, PNB, Canara, or HDFC — saving you from looking up the values separately.
What is the Moratorium Period in an Education Loan?
The moratorium period is the grace window between loan disbursal and the start of EMI repayment — equal to your course duration plus 6 to 12 months. During this time, your bank still accrues interest. Most banks capitalise it — adding it to your outstanding principal — so your actual balance at repayment start is higher than what you originally borrowed. This calculator models all three scenarios: capitalised interest, simple interest paid monthly, and zero interest under government subsidy.
Mukhyamantri Yuva Sambal Yojana — Rajasthan Unemployment Allowance
If you have graduated and are actively job hunting while managing loan repayments, the Mukhyamantri Yuva Sambal Yojana provides ₹4,000/month for male graduates and ₹4,500/month for female graduates and differently-abled persons — for up to 2 years. Apply through your SSO ID under the Employment Department portal. You must be registered on the Rajasthan Employment Exchange, aged 21 to 35, and hold at least a graduation degree.
5 Ways to Reduce Your Education Loan Burden
- Pay simple interest during moratorium if possible — prevents capitalisation and lowers the principal at repayment start
- Apply for CSIS or Padho Pardesh at the time of loan disbursal — the bank handles the government application for you
- Prepay whenever possible — most education loans have zero prepayment penalty; even ₹5,000 extra per month cuts years off your tenure
- Choose the shortest tenure you can afford — a shorter tenure means significantly less total interest paid over the life of the loan
- Combine with scholarships — use our Scholarship Estimator to check if you qualify for SJE, Anuprati, or EWS grants that reduce your loan dependency