Formula used
Calculates reducing-balance EMI and total interest. The tax output is a simplified illustration, not a filing calculation.
Example calculation
Actual annual eligible interest should come from the lender certificate.
Education Loan EMI & Tax Benefit Calculator India
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Estimated results
Monthly EMI
Total repayment
Total interest
Illustrative eligible interest share
Illustrative tax reduction
Interest after illustrative tax effect
Detailed breakdown
Result visual
Compare outputs within each unit group. Bars show magnitude; exact values include any negative sign. Each group uses its own scale.
Amounts (Rs)
Monthly EMI₹19,823
Total repayment₹23,78,713
Total interest₹8,78,713
Illustrative eligible interest share₹7,02,971
Inputs used in this result
- Education loan amount
- 15,00,000 Rs
- Annual interest rate
- 10 %
- Repayment tenure
- 10 years
- Interest-benefit years for illustration
- 8 years
- Marginal tax rate
- 20 %
- Cess on tax
- 4 %
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How to use this calculator
Calculate education-loan EMI and an illustrative interest-deduction tax impact using user-entered assumptions.
Educational estimate only
Results can vary based on company policy, lender terms, tax law, and personal assumptions.
FAQs
Does Section 80E deduct principal?
The deduction generally concerns eligible interest, subject to applicable law and eligibility.
Is there an upper rupee limit on the Section 80E deduction?
There is no fixed rupee ceiling on the interest deduction, but eligibility is limited to a specified number of years and applies only to interest, not principal repayment.