Know your EMI
before you know your gate.
Studying abroad means booking two things — a seat on a flight, and a monthly number you can actually live with. Work out the second one below, in seconds.
Start calculating- Principal ₹0
- Interest ₹0
Understanding Your Education Loan EMI
An education loan is repaid in fixed monthly instalments — EMIs — each made up of two parts: a slice that repays what you borrowed (principal) and a slice that pays the lender for lending it (interest). Enter your numbers on the left to see both, worked out instantly.
What is an Education Loan EMI Calculator?
Early in the loan, most of every EMI is swallowed by interest, since the outstanding balance is at its highest. As you keep paying, the balance shrinks and a growing share of each instalment goes toward the principal instead.
The ring on the calculator's screen shows that split at a glance — how much of your total repayment is the loan itself, and how much is the cost of borrowing it.
Why Calculate Your EMI Before Applying?
Knowing your likely EMI in advance lets you compare offers on equal footing. Two lenders quoting similar rates can still leave you paying very different amounts once tenure and fees are factored in — running the numbers yourself is the only way to know for sure.
Because the calculation is instant, it's easy to test combinations — a shorter tenure against a longer one, or a bank with a slightly better rate — until you land on numbers you're comfortable committing to.
The Formula Behind the Numbers
EMI = [P × R × (1+R)n] / [(1+R)n − 1]
P is the principal (loan amount), R is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the tenure in months.
Worked example: ₹10,00,000 at 12% p.a. for 2 years works out to an EMI of ₹47,073/month. Try those figures in the calculator to see it confirmed live.
Benefits of Using This Calculator
- Get an accurate EMI figure in seconds instead of doing compound-interest math by hand.
- See exactly how much of your repayment is principal versus interest, at any point.
- Test different rates, amounts, and tenures freely until the monthly outgo fits your budget.
- Use it as many times as you need, from any device, at no cost.
Planning to fund your studies abroad? Contact LetzStudy for guidance on loans, admissions, and visas.