Education Loan EMI Calculator

Use Axis Bank Education Loan Calculator to calculate your monthly installments & plan your future.

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Education Loan EMI Calculator

In a knowledge economy that we live in today, education plays a pivotal role. Education empowers us to reach new heights in our career, enables to live a respectable life, elevates our standard of living, aids accomplish financial goals, and much more!

Education is a long-term personal investment that has the potential to generate returns like none other.

With an education loan, you can make your dreams come true. The loan is available for career-oriented courses like medicine, engineering, management, etc. either at a graduate or post-graduate level in prime institutes in India and abroad. The loan covers tuition fees, examination fees, library subscription, cost of books, needed lab tools/equipment, laptop/computer, hostel charges (if any), and so on.

Students can directly apply for an education loan. However, their parent(s) or guardian will be treated as co-applicants, and their role will be akin to a primary debtor (a person who owes money).

But before you apply for an education loan, as a prudent loan planning exercise, assess how much the Equated Monthly Instalment (EMI) will be.

Axis Bank’s Education Loan EMI calculator is an automated tool that will quickly let you know your EMI.

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Break-up of Total Payment

Principal Amt
Interest Amt
Total Amt Payble

Remember, the interest rate and your loan tenure are the vital deciding factors that determine loan EMI.

The EMI of your loan consists of the principal portion and the interest. The EMI, usually, remains fixed for the entire tenure of your loan and it is to be repaid over the tenure of the loan on a monthly basis. During the initial years of your loan tenure, you pay more towards interest, and gradually, as you repay the loan, a higher portion is adjusted towards the principal component.

Axis Bank India offers education loans at attractive interest rates for a loan amount ranging from Rs 50,000 to Rs 75 lakh.

Apply for an education loan today and fuel your dreams!


Axis Bank does not guarantee accuracy, completeness or correct sequence of any the details provided therein and therefore no reliance should be placed by the user for any purpose whatsoever on the information contained / data generated herein or on its completeness / accuracy. The use of any information set out is entirely at the User's own risk. User should exercise due care and caution (including if necessary, obtaining of advise of tax/ legal/ accounting/ financial/ other professionals) prior to taking of any decision, acting or omitting to act, on the basis of the information contained / data generated herein. Axis Bank does not undertake any liability or responsibility to update any data. No claim (whether in contract, tort (including negligence) or otherwise) shall arise out of or in connection with the services against Axis Bank. Neither Axis Bank nor any of its agents or licensors or group companies shall be liable to user/ any third party, for any direct, indirect, incidental, special or consequential loss or damages (including, without limitation for loss of profit, business opportunity or loss of goodwill) whatsoever, whether in contract, tort, misrepresentation or otherwise arising from the use of these tools/ information contained / data generated herein.

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Frequently Asked Questions

  • How much time does the bank take to convey its decision of sanctioning or rejecting the loan application?

    The bank sanctions the education loan only after thorough due diligence. Axis Bank usually disburses loans within 15 days from the date of receipt of the complete application along with all documents required for a full appraisal.

  • How much is the margin money required to avail an education loan?

    There is no margin for education loans upto Rs 4 Lakhs. For loans above Rs 4 Lakh, the margin for studies within India is 5% and for studies overseas is 15%.

  • What are the documents required at the time of disbursement of education loan?

    The documents required for the first disbursement are:

    • Demand Letter from college or university
    • Disbursement Request Form (DRF) signed by the applicant, co-applicants
    • A signed copy of Loan Agreement (which includes Demand Promissory Note, DP Note Delivery-cum-Waiver Letter, Standing Instruction Request, PDC (Post-dated Cheque)
    • Sanction Letter signed by the applicant, co-applicants
    • Form A2 signed (for the purchase of foreign exchange) by applicant or co-applicants in case abroad Institute cases
    • Receipts of Margin Money paid to the college/university along with bank statement reflecting the transaction
    • Documents for collateral security ( if applicable)
    • Form A2 signed by the applicant or co-applicants in case of overseas institute

    For subsequent disbursements as well, many of the aforementioned documents will be needed, particularly the demand letter from the college or university, DRF, receipt of margin money paid, and one any from the exam progress report, mark sheet, bonafide certificate.

  • What if I miss my EMI or pay late? Are there any charges?

    Yes, Rs 500 + taxes per cheque bounce and a penal interest @24% per annum i.e. @ 2% per month on the overdue instalment/s. So, as far as possible, keep your repayment track record clean.

  • Is an education loan eligible for tax deduction?

    Yes. When you avail an education loan, the interest paid (which is a component of your EMI) on the education loan is allowed as a deduction under Section 80E of the Income Tax Act, 1961. The deduction is available for a maximum of 8 years or till the interest is paid, whichever is earlier.

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You would agree that today education, particularly higher education, plays an important role in shaping our future.