Education Loan Calculator 2026 — Free Student Loan EMI
Calculate education loan EMI with moratorium period. SBI rates from 8.05% p.a. for domestic courses.
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Education Loan Key Points
- Moratorium period: Course duration + 1 year
- Tax benefit: Interest 100% deductible under Section 80E
- No collateral: Required for loans up to ₹7.5 lakh
- Govt subsidy: CSIS for EWS students
SBI Scholar Loan
SBI offers special rates for IIT, IIM, NIT students — from 8.05% p.a. with no processing fee for girl students.
Frequently Asked Questions
Moratorium = course duration + 6 months to 1 year. During this period, you only pay simple interest. EMI starts after you get a job.
Yes. For loans up to ₹7.5 lakh, no collateral is required under IBA guidelines. Above ₹7.5 lakh, banks may ask for property/FD.
Under Section 80E, the entire interest paid on an education loan is tax-deductible with no upper limit, for 8 consecutive years.
Yes. Most banks offer education loans for USA, UK, Canada, Australia, Germany etc. Amounts up to ₹1.5 crore with collateral.
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⚠️ Disclaimer
All calculations are indicative and for informational purposes only. Actual EMI may vary based on your bank's terms, processing fees, and applicable taxes. Please contact your bank for exact figures before taking a loan.
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