Education loan EMI calculator

It’s the no-EMI grace window — typically your course duration plus one year after. RBI’s scheme rule is "course period plus one year, or six months after getting a job, whichever is earlier", and bank implementations (e.g. SBI) follow the same pattern. Interest still accrues while you’re not paying. How that accrued interest is handled — added once to principal, paid monthly, or compounded — can change the total cost of the loan by tens of thousands. Most calculators silently pick one assumption and hide the rest; this one surfaces all three.

Because EMI is calculated on the inflated balance, not the original sanction. Under Simple → principal (default), the interest that piles up over course + grace gets added to principal in one go before repayment starts. Under Capitalise monthly, it compounds. Only Pay during moratorium keeps the principal flat — at the cost of monthly outflow during studies. The metric tile shows you which number your EMI is actually amortising.

Almost always cheaper in total — but it pulls cash out during studies. The Treatment comparison view lets you see the trade explicitly: EMI under each treatment, repayment principal under each treatment, and the total payment over the life of the loan. The gap between Pay-during and Capitalise-monthly is often 15-25% of the original loan, all interest you can avoid.

Currency and amount-unit selection make the tool work outside India for the simple post-course-grace pattern. Country-specific repayment schemes (US income-based, UK Plan 1/2 SLC) are not modelled and would understate complexity — that’s out of scope and called out in warnings.

Because EMI is an amortising payment — early months are mostly interest, later months are mostly principal. EMI = P × r × (1+r)^N / ((1+r)^N − 1). The year-wise schedule shows that curve clearly: the first year of a 10-year loan at 10% is ~60% interest; the last year is ~3%. Useful for thinking about prepayment timing.