Use the PNB Education Loan Calculator to accurately calculate your returns and plan your investments based on current PNB rates.
Using our PNB Education Loan Calculator is simple and takes just a few seconds. Enter your values using the sliders or input fields above, and the results will update instantly — no need to click a calculate button.
All calculations are performed in your browser using standard financial formulas. Your data is never stored or transmitted to any server, ensuring complete privacy.
The results shown are estimates based on the inputs you provide. For precise figures, consult with your bank or financial advisor. Use this tool for quick comparisons, planning, and understanding how different variables affect your financial outcomes.
EMI = (P + Interest during moratorium) × r × (1+r)^n / ((1+r)^n - 1)Education loans have a moratorium period (course duration + 6-12 months) during which simple interest accumulates on the principal. After moratorium, EMI is calculated on the total outstanding (principal + accrued interest) using the standard reducing balance method.
₹15 Lakh at 8.5% with 4-year moratorium, 7-year repayment
EMI: ₹29,847 | Total Interest: ₹7.57 Lakh
₹8 Lakh at 9% with 2-year moratorium, 5-year repayment
EMI: ₹19,432 | Total Interest: ₹3.66 Lakh
Our Education Loan Calculator helps students and parents plan education financing by calculating EMI after the moratorium period. Unlike regular loans, education loans have a grace period (moratorium) during which you don't pay EMI but interest accumulates. This calculator accounts for that, showing your true repayment cost.
The PNB Education Loan Calculator is designed to help you estimate your returns specifically using PNB's current offerings. Our calculator helps you plan your biggest financial decision. Calculate monthly EMI, total interest payable, and get a complete schedule. Compare different amounts, rates, and tenures.
PNB is one of the leading financial institutions offering competitive rates and reliable services for this product.
Education loan interest rates in India for FY 2025-26 range from 8.15% to 13% depending on the bank and loan amount. SBI Student Loan starts at 8.65-9.15%, Bank of Baroda at 8.15-9.65%, and Axis Bank/HDFC Credila at 10-13%. Government-backed Vidya Lakshmi portal lists accredited lenders. Subsidized schemes (Central Sector Interest Subsidy) offer 0% interest during moratorium for economically weaker sections (annual income below ₹4.5 lakh). Use the free Education Loan Calculator on AbacusHand to calculate your exact result instantly.
The moratorium period is the grace period during which you are not required to pay EMI on your education loan. It typically covers course duration + 6-12 months after completion or getting a job (whichever is earlier). During moratorium, simple interest accrues on the principal. For a ₹10 lakh loan at 9% with 4-year moratorium, interest accumulated = ₹3.6 lakh, making effective principal ₹13.6 lakh for EMI calculation. Paying interest during moratorium saves significantly. Use the free Education Loan Calculator on AbacusHand to calculate your exact result instantly.
Under Section 80E of the Income Tax Act, the entire interest paid on an education loan is deductible from taxable income for up to 8 consecutive financial years from the year repayment begins. There is no upper limit on the deduction — unlike Section 80C (capped at ₹1.5 lakh). This is available under the old tax regime. For a ₹10 lakh loan at 9%, paying ₹90,000 interest in year 1 saves ₹27,000 in tax at the 30% slab. Use the free Education Loan Calculator on AbacusHand to calculate your exact result instantly.
Top banks for education loans in India (FY 2025-26): SBI Scholar Loan (lowest rates, 8.65%+, no collateral up to ₹40 lakh for premier institutions), Bank of Baroda Baroda Education Loan (from 8.15%), Union Bank of India (8.35%+), Axis Bank (10%+), and HDFC Credila (specialized education lender, 10-13%). For study abroad: Avanse, InCred, and Prodigy Finance also offer loans without collateral. Compare on Vidya Lakshmi portal (vidyalakshmi.co.in). Use the free Education Loan Calculator on AbacusHand to calculate your exact result instantly.
For a ₹10 lakh education loan at 9% with a 2-year moratorium and 7-year repayment: interest during moratorium = ₹1.8 lakh, effective principal = ₹11.8 lakh, EMI = approximately ₹18,900/month. Total amount repaid = approximately ₹15.9 lakh on a ₹10 lakh loan. To reduce this, pay simple interest during the moratorium period — this keeps the principal at ₹10 lakh and reduces EMI to ₹15,980/month. Use the free Education Loan Calculator on AbacusHand to calculate your exact result instantly.
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