Education Loan Interest Rate Calculator

Our Education Loan Interest Rate Calculator helps you calculate monthly EMI, total interest, and repayment schedules for education loans from major Indian banks including SBI, PNB, Canara Bank, HDFC, Bank of Baroda (BOB), Axis Bank, and ICICI Bank. The calculator also supports UK student loans.

Key Features:

• Calculate interest rates with and without collateral
• Support for moratorium periods (grace periods) with interest capitalization options
• Eligibility calculator based on monthly salary (especially useful for SBI education loans)
• Compare rates across multiple banks
• Export payment schedule to Excel (CSV format)
• Detailed amortization schedule showing principal and interest breakdown

How to Use:

1. Select your country (India or UK)
2. Choose your bank (for India) or enter a custom interest rate
3. Enter loan amount, interest rate, and loan tenure
4. Enable moratorium period if applicable and specify whether to pay interest during moratorium
5. Use the eligibility calculator to check loan eligibility based on your salary
6. View detailed payment schedule and export to Excel for your records

Understanding Moratorium Period:

A moratorium period (also called grace period) is a time during which you don't need to make principal payments. If you choose not to pay interest during this period, the interest will be capitalized (added to the principal), increasing your total loan amount. Paying interest during moratorium prevents capitalization and reduces your total interest cost.

Bank-Specific Information:

• SBI: Offers competitive rates, especially for loans with collateral. Eligibility can be calculated based on salary.
• PNB: Provides education loans with flexible repayment options.
• Canara Bank: Offers education loans with competitive interest rates.
• HDFC: Provides education loans through HDFC Credila with various options.
• BOB: Bank of Baroda offers education loans with attractive rates.
• Axis Bank: Provides education loans with flexible terms.
• ICICI: Offers education loans with competitive rates and flexible repayment.

Note: Interest rates are approximate and may vary based on individual credit profiles, loan amount, and other factors. Always check with your bank for the most current rates and terms.