How to Use This Education Loan EMI Calculator
Enter your education loan amount (₹1 Lakh to ₹75 Lakh) using the slider or type directly. Set the interest rate your bank has quoted — typically 8%–16% p.a. for education loans. Choose the repayment tenure (1–15 years). Note that this calculator shows the EMI after the moratorium period — during the course plus the initial holiday, most banks do not require EMI payments (though interest accrues).
Education Loan Eligibility in India
To qualify for an education loan in India, you must be an Indian citizen who has secured admission to a recognised institution in India or abroad. Most banks require a co-applicant (parent or guardian) who acts as the primary borrower. Academic performance, the reputation of the institution, course employability, and the co-applicant's income and credit score all influence eligibility and the interest rate offered. A good credit score (700+) for the co-applicant significantly improves approval chances and can unlock better rates.
Study Abroad Loans — Key Points
For study abroad, loan amounts can go up to ₹75 lakh or higher with collateral. In addition to tuition, banks typically fund living expenses, travel, and equipment costs. Loans are generally disbursed in foreign currency at the bank's exchange rate, and some lenders offer zero forex markup for education disbursements. Post-graduation, the repayment period starts after the moratorium, and EMIs are in INR. Use this calculator to model your post-study repayment obligations before committing to a loan.
Education Loan Interest Rates (2026)
| Bank | Interest Rate (p.a.) | Max Amount | Moratorium |
|---|---|---|---|
| SBI | 8.65% onwards | ₹1.5 Cr (with collateral) | Course + 12 months |
| Bank of Baroda | 8.70% onwards | ₹80 Lakh | Course + 12 months |
| HDFC Credila | 10.50% onwards | ₹75 Lakh+ | Course + 6 months |
| Axis Bank | 13.70% onwards | ₹75 Lakh | Course + 12 months |
Updated April 2026. Rates are indicative — contact your lender for your personalised offer.