Student Loan Calculator
Calculate your education loan EMI, total interest, and repayment schedule with moratorium period awareness.
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* ਸਾਰੀਆਂ ਗਣਨਾਵਾਂ ਅਨੁਮਾਨਿਤ ਹਨ।
ਮਹੱਤਵਪੂਰਨ — ਫੈਸਲਾ ਲੈਣ ਤੋਂ ਪਹਿਲਾਂ ਪੜ੍ਹੋ
- Education loans have a moratorium period (course duration + 1 year) before EMI starts
- Interest accrues during the moratorium period — this adds significantly to total cost
- Government provides interest subsidy on education loans up to ₹10 lakh for economically weaker sections
- Collateral is typically required for education loans above ₹7.5 lakh
- Tax deduction under Section 80E is available on interest paid (no limit, for 8 years)
- Processing fees for education loans range from 0.5% to 2% of loan amount
- Some banks offer lower rates for premier institutions (IITs, IIMs, NITs)
- Co-borrower (usually parent) is mandatory for education loans
ਇਨ੍ਹਾਂ ਨੂੰ ਨਜ਼ਰਅੰਦਾਜ਼ ਕਰੋਗੇ ਤਾਂ ਕੀ ਹੋਵੇਗਾ?
- Interest accumulation during moratorium increasing total repayment by 20-30%
- Defaulting on education loan affecting both student and co-borrower's credit score
- Not claiming Section 80E tax benefits losing thousands in tax savings
- Choosing wrong repayment tenure — too short means high EMI, too long means excess interest
- Not comparing lenders and missing lower interest rate options
ਸਮਾਰਟ ਸੁਝਾਅ
- Pay at least the interest during moratorium to reduce total cost significantly
- Compare rates from banks, NBFCs, and government schemes before borrowing
- Claim Section 80E tax deduction every year on interest paid
- Consider partial prepayments whenever you receive bonuses or windfalls
- Choose the shortest tenure where EMI fits comfortably in your starting salary budget
- Check if your target college has tie-ups with banks for preferential rates
ਅਕਸਰ ਪੁੱਛੇ ਜਾਣ ਵਾਲੇ ਸਵਾਲ
ਹੋਰ ਵਿੱਤੀ ਸਾਧਨ
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