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Education Loan EMI with a Moratorium

Calculators100% freePrivate

The short answer

On 10 lakh at 9.5 percent, a 48-month moratorium adds about ₹3,80,000 of simple interest, so you start repaying ₹13,80,000. Spread over 7 years, the EMI is about ₹22,555. Paying the interest during the course would keep the loan from growing.

Period in

For education loans: the study period plus any grace period before payments start. Interest in this time is added to the loan.

Monthly EMI

₹22,555

Loan amount

₹10,00,000

Total interest

₹8,94,594

Total payment

₹18,94,594

₹3,80,000 of the interest builds up during the moratorium and is added to the loan, so the EMI is worked out on ₹13,80,000.

Loan 53% Interest 47%
Month-by-month schedule (84 payments)
Repayment schedule
MonthInterestPrincipalBalance
1₹10,925₹11,630₹13,68,370
2₹10,833₹11,722₹13,56,649
3₹10,740₹11,815₹13,44,834
4₹10,647₹11,908₹13,32,926
5₹10,552₹12,002₹13,20,924
6₹10,457₹12,097₹13,08,826
7₹10,362₹12,193₹12,96,633
8₹10,265₹12,290₹12,84,343
9₹10,168₹12,387₹12,71,956
10₹10,070₹12,485₹12,59,471
11₹9,971₹12,584₹12,46,887
12₹9,871₹12,684₹12,34,204
13₹9,771₹12,784₹12,21,420
14₹9,670₹12,885₹12,08,535
15₹9,568₹12,987₹11,95,548
16₹9,465₹13,090₹11,82,458
17₹9,361₹13,194₹11,69,264
18₹9,257₹13,298₹11,55,966
19₹9,151₹13,403₹11,42,563
20₹9,045₹13,509₹11,29,054
21₹8,938₹13,616₹11,15,437
22₹8,831₹13,724₹11,01,713
23₹8,722₹13,833₹10,87,880
24₹8,612₹13,942₹10,73,938
25₹8,502₹14,053₹10,59,885
26₹8,391₹14,164₹10,45,721
27₹8,279₹14,276₹10,31,445
28₹8,166₹14,389₹10,17,056
29₹8,052₹14,503₹10,02,553
30₹7,937₹14,618₹9,87,935
31₹7,821₹14,734₹9,73,202
32₹7,705₹14,850₹9,58,352
33₹7,587₹14,968₹9,43,384
34₹7,468₹15,086₹9,28,298
35₹7,349₹15,206₹9,13,092
36₹7,229₹15,326₹8,97,766
37₹7,107₹15,447₹8,82,318
38₹6,985₹15,570₹8,66,749
39₹6,862₹15,693₹8,51,056
40₹6,738₹15,817₹8,35,239
41₹6,612₹15,942₹8,19,296
42₹6,486₹16,069₹8,03,228
43₹6,359₹16,196₹7,87,032
44₹6,231₹16,324₹7,70,708
45₹6,101₹16,453₹7,54,255
46₹5,971₹16,584₹7,37,671
47₹5,840₹16,715₹7,20,956
48₹5,708₹16,847₹7,04,109
49₹5,574₹16,980₹6,87,129
50₹5,440₹17,115₹6,70,014
51₹5,304₹17,250₹6,52,763
52₹5,168₹17,387₹6,35,376
53₹5,030₹17,525₹6,17,852
54₹4,891₹17,663₹6,00,188
55₹4,751₹17,803₹5,82,385
56₹4,611₹17,944₹5,64,441
57₹4,468₹18,086₹5,46,355
58₹4,325₹18,229₹5,28,125
59₹4,181₹18,374₹5,09,752
60₹4,036₹18,519₹4,91,233
61₹3,889₹18,666₹4,72,567
62₹3,741₹18,814₹4,53,753
63₹3,592₹18,962₹4,34,791
64₹3,442₹19,113₹4,15,678
65₹3,291₹19,264₹3,96,414
66₹3,138₹19,416₹3,76,998
67₹2,985₹19,570₹3,57,428
68₹2,830₹19,725₹3,37,703
69₹2,673₹19,881₹3,17,821
70₹2,516₹20,039₹2,97,783
71₹2,357₹20,197₹2,77,586
72₹2,198₹20,357₹2,57,228
73₹2,036₹20,518₹2,36,710
74₹1,874₹20,681₹2,16,029
75₹1,710₹20,844₹1,95,185
76₹1,545₹21,009₹1,74,175
77₹1,379₹21,176₹1,53,000
78₹1,211₹21,343₹1,31,656
79₹1,042₹21,512₹1,10,144
80₹872₹21,683₹88,461
81₹700₹21,854₹66,607
82₹527₹22,027₹44,579
83₹353₹22,202₹22,378
84₹177₹22,378₹0

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How to: Education Loan EMI with a Moratorium

  1. 1Type the loan amount and the interest rate.
  2. 2Type the number of months of moratorium, the course plus the grace period.
  3. 3Set the repayment period.
  4. 4Compare the EMI with the same loan without a moratorium.

At a glance

Example
10 lakh, 9.5%, 48 months' moratorium, 7 years to repay
Interest added
₹3,80,000
EMI
₹22,555 a month

Frequently asked questions

How does the tool add the moratorium interest?

It adds simple interest on the loan for the moratorium months and works out the EMI on the larger amount. Your bank may handle this slightly differently, so treat it as an estimate.

Can I avoid the extra amount?

If you pay the interest every month while you study, the loan amount stays the same and the later EMI is lower. Ask the bank whether it allows this.

More quick answers

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