Education Loan EMI Calculator
Check Your Education Loan EMI in Seconds with UniCredsLoan Amortization Schedule
Following table show the year wise payment schedule.
| Month | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
|---|
Your Education Loan EMIs Shouldn’t Be Guesswork
Most students focus on getting an education loan for abroad studies. But the real question is: Can you afford the EMI after graduation?
Many don’t realise how a small change in study loan interest rates or tenure can increase their total repayment by lakhs.
Before you take a loan, check how much you’ll actually pay back every month.
What is an Education Loan EMI Calculator?
An education loan EMI calculator gives you the real numbers—not just rough estimates—so you can plan your loan before applying.
Would you sign a loan agreement without knowing what you’ll owe each month? That’s a financial risk you don’t want to take.
What This Calculator Tells You?
- Your Exact EMI
- Total Loan Cost
- Impact of Different Tenures
- Effect of Interest Rate Changes
Why Guess When You Can Know?
Not everyone will tell you how to reduce your repayment burden. But this calculator will. Use it before borrowing and save yourself from costly mistakes!
Why Using an EMI Calculator Saves You from Expensive Loan Mistakes?
Taking a study loan for abroad is easy. Paying it back? That’s where things get real.
You may end up paying far more than expected because you didn’t check the EMI before signing on the dotted line.
Here’s How It Saves You From a Bad Loan Decision:
Know Your EMI Before Borrowing
A ₹15 lakh loan at 9% interest for 10 years? Your EMI could be ₹19,000 per month. But at 10% interest, it jumps to ₹21,000.Compare Loan Offers & Interest Rates
A 0.5% lower study loan interest rate could save you ₹1-2 lakh over your loan tenure. The calculator lets you compare banks and NBFCs before choosing.Find the Right Repayment Tenure
Short tenure = Higher EMIs, lower interest.
Long tenure = Lower EMIs, higher total repayment.Understand the Real Cost of the Loan
You may know your interest rates, but do you know how much you’ll repay over the years? The calculator lets you compare banks and NBFCs before choosing.Helps You Avoid Over-Borrowing
Taking an education loan for abroad studies? Borrow what you need, not what they offer. This calculator shows whether your repayment plan actually makes sense.
How to Use the Education Loan EMI Calculator?
All EMI calculators are not the same. But the process is simple. Here’s how it works across most platforms:
- Enter Loan Amount – ₹10 lakh? ₹30 lakh? Type in the amount you plan to borrow.
- Choose Loan Tenure – Will you repay in 5, 7, or 10+ years? Your tenure affects your monthly EMI & total interest.
- Input the Education Loan Interest Rate – Different banks and NBFCs offer different rates. Even a 0.5% difference can impact total repayment.
- Select Repayment Type – Will you start paying EMIs immediately, or after a moratorium period?
- Click ‘Calculate’ – Instantly get your monthly EMI, total repayment, and interest cost.
Tip: Want to compare different banks’ interest rates? Try multiple values and see how your EMI changes.
How To Calculate EMI For Education Loans?
You could manually calculate your education loan EMI—but why struggle with numbers when you can get an instant result in seconds?
That being said, if you still want to know how it works, here’s the formula lenders use:
FORMULA = [P x R x (1+R)^N] / [((1+R)^N) - 1]
where:
- P = Loan Amount
- R = Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100)
- N = Loan Tenure (in months)
Example Calculation:
Let’s say you take a ₹25 lakh education loan for abroad studies at a 9% study loan interest rate for 10 years (120 months).
- Loan Amount (P): ₹25,00,000
- Annual Interest Rate: 9% (so monthly rate (r) = 9 ÷ 12 ÷ 100 = 0.0075)
- Loan Tenure (n): 120 months
Using the formula:
EMI = 25,00,000 × 0.0075 × (1 + 0.0075)120 / ((1 + 0.0075)120 - 1)
Final EMI: ₹31,668 per month
Why Manual Calculations Won’t Help You Much?
- You don’t get the full picture
The formula doesn’t account for processing fees, floating interest rates, or moratorium periods. - Small mistakes can cost you a lot of money
Even a tiny miscalculation could make you borrow under the wrong EMI assumptions. - It’s time-consuming
Why spend 15 minutes doing maths when you can get the answer instantly?
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Steps To Calculate EMI Using UniCreds EMI Calculator
Most EMI calculators show you just one number—but that’s not enough when you’re borrowing lakhs for your study loan for abroad.
What about processing fees? The moratorium period? Different bank interest rates?
That’s why you need the UniCreds EMI Calculator—it does the real math for you.
How to Use UniCreds EMI Calculator (Takes 30 Seconds!):
1. Open the calculator on this page.
2. Enter Your Loan Amount
Borrowing ₹15 lakh? ₹40 lakh? Enter your loan amount and get an exact EMI estimate—no surprises later.
3. Set Your Loan Tenure
Do you want lower EMIs with a longer tenure or faster repayment with a short tenure? Adjust and see the difference instantly.
4. Input the Interest Rate
Every education loan for abroad has different study loan interest rates—even a 0.5% difference can save you lakhs!
5. Add Moratorium Period (If Needed)
Some lenders offer a grace period before EMIs start—but the interest still adds up. UniCreds factors this in so you don’t get a rude shock later.
6. Hit ‘Calculate’
Get your monthly EMI, total interest, and actual repayment amount in seconds.
What Makes UniCreds EMI Calculator Smarter Than the Rest?
- Shows the True Cost of Your Loan – Not just EMI, but total repayment, interest accumulation, and moratorium impact.
- Compare Different Interest Rates & Tenures – A 1% change in study loan interest rate can mean saving lakhs. Play around & find the best deal.
- Built for Study Loans, Not Just Generic Loans – Unlike bank calculators, we focus 100% on education loans, considering moratoriums & special student discounts.
Why You Can’t Skip the EMI Calculator Before Taking an Education Loan?
Taking an education loan for abroad studies is a long-term commitment. Yet, many students sign loan papers without checking their EMI and regret it later.
What if your EMI is way higher than expected? What if you’re overpaying on interest? An Education Loan EMI Calculator answers these questions before you commit.
Common Mistakes To Avoid While Using Student Loan EMI Calculator
Using an Education Loan EMI Calculator is easy. But using it wrong? That’s where students make costly mistakes.
A small error—like ignoring the study loan interest rate variation or forgetting to add a moratorium period—can lead to overpaying lakhs in repayments.
Here’s how to avoid these expensive mistakes when using the calculator.
Mistake #1: Ignoring Processing Fees & Hidden Charges
Most banks don’t just charge interest—they add processing fees, insurance, and other costs. If you only check EMI without adding these charges, your real repayment amount will be much higher than expected. Use UniCreds’ calculator, which factors in extra charges for a more accurate repayment estimate.
Mistake #2: Forgetting to Include the Moratorium Period
If you’re taking an education loan for abroad studies, many banks offer a moratorium period—where you don’t pay EMIs until after graduation. However, interest still accrues during this period, making your total loan amount larger than expected when repayment starts. Always select the moratorium option while calculating your EMI to see how much interest adds up during this phase.
Mistake #3: Assuming All Lenders Have the Same Study Loan Interest Rate
Not all banks offer the same interest rate. Even a 0.5% difference in your study loan interest rate can increase or decrease your total repayment significantly. Many students just enter a random interest rate, leading to wrong EMI calculations. Compare multiple lenders and check how even a small rate change affects your EMI before deciding.
Mistake #4: Choosing the Wrong Loan Tenure Without Checking Total Interest Paid
A longer tenure means lower EMIs, but it also means paying more interest overall. Many students choose the longest tenure for an easier EMI, not realising they end up paying way more in interest. Try different tenure options in the calculator and see how your total repayment amount changes.
Mistake #5: Only Checking EMI Without Looking at Total Repayment Amount
A ₹25,000 EMI might seem manageable. But did you check how much you’ll actually pay over 10-15 years? Some students focus only on EMI affordability, missing the fact that a slightly higher EMI could save them lakhs in total repayment. Always check total repayment cost, not just the EMI, before finalising your education loan for abroad studies.
Smart Borrowers Avoid These Mistakes—Do You?
Tips to Repay Your Study Loan EMIs Without Stress
Many students struggle with EMIs after graduation—not because they can’t earn, but because they didn’t plan ahead.
A little strategy can make your loan repayment much easier.
1. Start Repayments During the Moratorium Period (Even If It’s Small)
Most lenders offer a moratorium period (no EMIs while studying). But interest still piles up, increasing your loan amount. Even paying a small amount towards interest during this time reduces your total repayment.
2. Choose the Right EMI Based on Your Future Salary
Your education loan EMI shouldn’t take up more than 40-50% of your expected salary after graduation. Your education loan EMI shouldn’t take up more than 40-50% of your expected salary after graduation.
3. Make Partial Prepayments Whenever Possible
Get a bonus, internship stipend, or scholarship refund? Instead of spending it, put it towards your loan. Even a one-time lump sum prepayment can cut down your total interest and reduce your EMI burden.
4. Consider Refinancing If You Get a Better Interest Rate
Interest rates change. You can transfer your loan for better terms if another lender offers a lower study loan interest rate. Use the EMI Calculator to compare different lenders’ repayment costs before refinancing.
5. Set Up Auto-Debit for EMIs & Never Miss a Payment
Missed EMI = Late fees + Higher interest + Bad credit score. Set up auto-debit for your EMIs so you never miss a payment and keep your credit score healthy.
A study loan is an investment, not a burden—if managed right.
Most Students Overpay on Their Education Loans—Are You One of Them?
A 0.5% change in your study loan interest rate can mean paying ₹5-10 lakh extra. But if you check your EMI today, you can avoid overpaying tomorrow. Compare loan offers & see which lender gives the best deal. Find the perfect EMI plan based on your future income. Avoid getting stuck in a high-repayment trap.
Frequently Asked Questions
