EMI Calculator 2026
Calculate your loan EMI, interest, and repayment schedule
₹
₹1.0 L₹100.0 L
Quick Loan Presets:
%
5%20%
1 Yrs15 Yrs
EMI Calculator Summary
Loan EMI
₹24,902
Total Interest Payable Payable
₹5.92 L
Total Payment (Principal + Interest)
₹20.92 L
twenty lakh ninety one thousand seven hundred and forty nine rupees only
EMI Payment / Year
Year: 2026
Principal Paid: ₹37,516
Interest Paid: ₹37,189
Total Payment: ₹74,705
Your Repayment/Breakup Details (Monthly)
Your debt repayment schedule in regular instalments over a period of time.
| Year | Principal Amount | Total Interest | Total Amount | Balance |
|---|---|---|---|---|
| 2026▼ | ₹37,516 | ₹37,189 | ₹74,705 | ₹14,62,484 |
| Oct | ₹12,402 | ₹12,500 | ₹24,902 | ₹14,87,598 |
| Nov | ₹12,505 | ₹12,397 | ₹24,902 | ₹14,75,093 |
| Dec | ₹12,609 | ₹12,292 | ₹24,902 | ₹14,62,484 |
| 2027▶ | ₹1,59,764 | ₹1,39,058 | ₹2,98,821 | ₹13,02,720 |
| 2028▶ | ₹1,76,493 | ₹1,22,328 | ₹2,98,821 | ₹11,26,227 |
| 2029▶ | ₹1,94,974 | ₹1,03,847 | ₹2,98,821 | ₹9,31,253 |
| 2030▶ | ₹2,15,391 | ₹83,431 | ₹2,98,821 | ₹7,15,862 |
| 2031▶ | ₹2,37,945 | ₹60,876 | ₹2,98,821 | ₹4,77,917 |
| 2032▶ | ₹2,62,861 | ₹35,961 | ₹2,98,821 | ₹2,15,056 |
| 2033▶ | ₹2,15,056 | ₹9,060 | ₹2,24,116 | ₹0 |
Formula used by EMI Calculator
R ( 0.00833 ) = Interest( 10 % )/12/100
EMI = [P * R * (1+R)n] / [((1+R)n)-1]
EMI ( ₹24,902 ) = [₹15,00,000 * 0.00833 * (1+0.00833)^84] / [((1+0.00833)^84)-1]
Monthly EMI
=PMT(rate ( 0.0083 ), nper ( 84 ), pv ( ₹15,00,000 )) = ₹24,902Interest Paid for first month
=IPMT(pv ( ₹15,00,000 ), pmt ( ₹24,902 ), rate ( 0.0083 ), per ( 0 )) = ₹12,500Principal Paid for first month
=PPMT(rate ( 0.0083 ), per ( 0 ), nper ( 84 ), pv ( ₹15,00,000 )) = ₹12,402💻
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How does Education Loan Moratorium Period work?
Education loans offer a moratorium period (course duration + 1 year or 6 months after getting a job). Interest accrued during moratorium is added to the principal before EMI starts.
What is Section 80E tax deduction on Education Loan interest?
Under Section 80E, 100% of interest paid on an education loan for higher studies is deductible from taxable income for up to 8 consecutive assessment years with no upper cap.