Education loan EMI calculator
Enter the loan, rate, study period and repayment years. See the EMI, the interest while you study, and what 80E lets you deduct.
- Study period included
- 80E deduction shown
- Free, no sign-up
Claim 80E in full
All the interest you pay on an education loan can be deducted under 80E in the old regime, with no upper limit.
Questions people often ask
Who can claim 80E?
The individual who took the loan for their own, their spouse's or their children's higher education, or for a student they're the legal guardian of.
Can I claim 80E in the new regime?
No. 80E is only in the old regime. An expert can tell you which regime saves more with your loan.
How an education loan is repaid
Repayment starts after you study.
- While you study, simple interest builds up.
- It's added to the loan unless you pay it as you go.
- After the grace period, EMIs repay the loan; the interest counts for 80E for 8 years.
Last reviewed 9 October 2026. The rules in this calculator come from these official sources.
- Salaried individuals: deductions you can claim Income Tax Department
Common questions
How is an education loan EMI worked out?
Interest during the study period is simple interest. If it's added to the loan, the EMI is worked out on the larger amount over the repayment period.
What is the moratorium on an education loan?
A repayment holiday covering the course plus a grace period, often 6 to 12 months after it ends. Interest still builds up during it.
Should I pay interest while studying?
If you can, yes. The loan doesn't grow, the EMI is smaller later, and some banks give a small rate cut.
How long can I claim 80E?
For the year you start paying interest and the next 7 years: 8 years in all, or until the interest is fully paid, if sooner.
Is there a limit on 80E?
No. All the interest you pay in the year can be deducted. The principal can't.
Which loans qualify for 80E?
Loans from a bank, a financial institution or an approved charitable institution, for higher education after Class 12, in India or abroad. Loans from family or friends don't.
