Calculate the monthly EMI and total interest for an education loan, with an optional moratorium (grace) period.
This tool calculates the monthly EMI for an education loan, accounting for an optional moratorium period during which interest may accrue while studies are ongoing.
During moratorium, simple interest accrues and is added to the principal. The resulting adjusted principal is then used in the standard EMI formula for the repayment tenure.
Enter the loan amount, annual interest rate, repayment tenure, and optionally the moratorium period (course duration plus grace period), then click Calculate.
Example: An 8 lakh rupee education loan with a 4 year moratorium accrues interest during that time, increasing the principal before EMI calculations begin.
What is a moratorium period. It is the time during your course plus a grace period afterward when full repayment is not required, though interest may still accrue.
Can I pay interest during moratorium. Yes, many borrowers choose to pay simple interest during moratorium to reduce the principal before EMIs begin.