Education Loan EMI Calculator
Plan your finances effectively. Calculate your Equated Monthly Installments (EMI) for your education loan instantly.
Loan calculator
10L2Cr
8%16%
120
Monthly payment (EMI)
₹ 0
Total Payment Breakdown
Principal Amount
₹ 1,21,60,000Interest Amount
₹ 0Total Amount Payable₹ 0
Types of Education Loans
| Lender Type | Examples | Interest Rate (Annual) | Loan Amount Limits | Collateral Required? | Co-signer Required? | Typical Processing Time |
|---|---|---|---|---|---|---|
| Public Banks | SBI, Bank of Baroda, PNB | 8% – 10.5% (floating) 0.5% concession for women | Up to ₹1.5–2 Cr (with collateral) ₹7.5L max without | Yes (for > ₹7.5L) | Yes (parent) | 4-6 weeks |
| Private Banks | ICICI, Axis, HDFC Bank | 9% – 12% (floating) | ₹40–50L unsecured ₹1 Cr+ with collateral | Often for large amounts | Yes | 2-4 weeks |
| Indian NBFCs | HDFC Credila, Avanse, InCred | 10.5% - 13% (floating) | Up to ₹75L unsecured ₹1.5 Cr with collateral | Not required (lowers rate) | Yes | 1–2 weeks |
| Foreign Fintech | Prodigy Finance, MPOWER, Leap | 10% - 13% APR (variable/fixed) | Up to $50k-$100k (₹40-80L) | No | No | 2-3 weeks |