Compare in 2 mins
Education Loan EMI Calculator - Interest Rates All Bank 2025
Use our education loan EMI calculator to estimate your monthly payments and total interest payable for 2025. Compare interest rates across all banks and make an informed decision.
What is EMI?
EMI or Equated Monthly Installments is simply the financial installment that a person has to pay on a regular monthly basis against an outstanding amount of loan within a fixed time period. An EMI facility helps a person pay off a loan easily in the form of installments, allowing them to afford the loan.
EMIs and Educational Loans
Educational Loan is one of the most sought loans as they help numerous students to pursue their higher education every year. An education loan is provided to a student by a bank on the basis of a number of factors including:
- Student’s Academic Background
- Co-Borrower’s Financial Background (In Most Cases the Guardians of the Student)
- Student’s Admission to a University/College
- Stipulated Time within which Student can pay off the loan etc.
An educational loan provides a student with a number of advantages and benefits such as the ease of paying the loan in easy installments, an extended moratorium for paying the loan off, lower interest rates and the ability to afford one’s educational course/college of choice without any compromises. Taking an education loan additionally takes off the burden of heavy financial expenses from the parents/guardians of the student.
When taking an educational loan, students can pay it off over a period of monthly installments or EMI through easy financing options. In some cases, some student loans may also be offered with zero or very low interest rates.
You can easily calculate the EMI of your educational loan if you know the principal amount (P), the rate of interest on your education loan (R), and the time period for your loan (in terms of months). Use the formula below:
EMI = P x r x (1+r)^n ÷ ((1+r)^n-1)* Where P is the principal amount, r is the interest rate, and n is the number of months.
Common Eligibility Criteria
Education loans in India can be applied for by any Indian resident student along with valid credentials and ID proofs. Specific factors include:
- Student’s Academic and Personal Details to ensure they meet the criteria.
- The Financial Background of the Co-Borrowers (parents/guardians).
- The Period of Course Completion.
- College/University of Admission.
Students can additionally benefit by researching government subsidies, scholarship facilities etc. to make education more affordable.
Education Loan Process
Here's a step-by-step guide on the education loan process:
- Determine the Loan Amount: Research tuition rates and financial aid listings to calculate costs.
- Choose the Lender: Compare loan offerings from various banks and financial institutions.
- Check Eligibility: Review guidelines for age, nationality, and academic qualifications.
- Submit Loan Application: Fill out forms with admission letters, identity proof, etc.
- Loan Approval: The lender decides whether to approve or deny the request.
- Loan Disbursement: Funds are disbursed directly to the educational institution.
- Repayment: Repayment begins after finishing school or obtaining a job as per the schedule.
Education Loan Interest Rates in Different Banks
Interest rates change from bank to bank depending on the loan amount. Below is a list of interest rates in some Indian banks.
| Bank Name | Interest Rate (Approx) |
|---|---|
| State Bank of India (SBI) | 8.55% |
| HDFC Bank | 9.50% |
| ICICI Bank | 11.25% |
| Punjab National Bank (PNB) | 8.55% |
| Axis Bank | 13.70% to 15.20% |
| Bank of Baroda | 11.15% |
| Canara Bank | 9.25% |
| Kotak Mahindra Bank | 9.60% |
| Bank of India | 9.25% |
| IDFC Bank | 8.50% |
| HDFC Credila | 11.5% |
Interest Rates for EMIs and Education Loans
Education loans usually have a lower interest rate than other loans.The interest rates on education loans in India start from almost 8% p.a and extend upto 16% p.a depending on the bank you choose as well as the loan amount and moratorium period.
How does an EMI Calculator Work?
An EMI calculator works by quickly calculating your monthly EMI amount and the total payable amount with the help of the total loan amount (i.e., your Principal), the interest rate on the loan as well as the tenure of your loan in terms of months.
Explore our Popular Online Course
A Quick Insight of College Vidya
The online education market in India remains disorganised, making it difficult for students to find relevant resources. We are the first online platform in India to consolidate all of the available online learning universities into a single location.
College Vidya equips students with the tools they need to enrol in top online universities. Our compare tool allows you to quickly and easily evaluate different online colleges based on a variety of criteria, including tuition, e-learning system, EMI, faculty, and more
FAQs: EMI Calculator
All Calculator Tools
- Online University ROI Calculator
- CAT Percentile Calculator - Predict CAT 2026 Score Percentile
- Inch To Centimeter Calculator
- GPA To Percentage Calculator
- SGPA to Percentage Calculator
- CGPA to Percentage Calculator
- Age Calculator
- BMI Calculator
- Fraction Calculator
- Education Loan EMI Calculator
- Gallon To Liter Calculator
- Return on Investment (ROI) Calculator
- INR to USD Converter
- Meter & Feet Calculator
- Percentage Calculator
- Acre to Square Feet Calculator
- Acre to square meter calculator
- Billion to Rupees calculator
- Binary to Hex calculator
- Centimeter to Millimeter Calculator
- Centimeter to Feet calculator
- Centimeter to meter calculator
- Cubic Foot to Cubic Meter Calculator
- Decameters to Meter Calculator
- Decimal to Fraction Calculator
- Feet to Centimeter Calculator
- Hectare to Acre Calculator
- Hours to Minutes Calculator
- Inches to Feet Calculator
- Kilometer to miles Calulator
- LBS to KG Calculator
- Meter to Inch calculator
- Meter to Kilometer calculator
- Meter to Millimetre calculator
- Meter to Centimeter calculator
- Militmeter to inches calculator
- Millimeters to Centimeters Calculator
- Million to Crore Calculator
- Million to Lakhs Calculator
- Million to Rupees Calculator
- Square Foot to Square Meter Calculator
- Square Meter to Square Feet Calculator
- Volume of Cuboid Calculator
Get the right guidance with us
Download the app
4.1
5
Online & Distance MBA
Online & Distance Best University for
Online & Distance UG Courses
Online & Distance PG Courses
General
College Vidya is an independent education guidance platform designed to help learners compare, evaluate, and make informed decisions about accredited online and distance programs. We do not directly conduct academic programs. All admissions, curriculum structures, fee details, approvals, scholarships, and placement policies are managed and executed by the respective universities or institutions. We aim to keep information accurate and updated. For complete and official details, learners are encouraged to connect with experts from College Vidya. Our role is to simplify research and provide structured guidance throughout the decision-making process.
© 2026 College Vidya, Inc. All Rights Reserved
Build with Made in India
Ask Sara