EMI calculator
What the repayment looks like
- Monthly EMI
- —
- Total interest
- —
- Total payable
- —
This is the EMI after the course, on a reducing balance. Many lenders charge simple interest while you are still studying, and the sanction letter is the rate that counts.
Security
What the amount usually changes
Move the loan amount. The usual public-sector rule for that size lights up here.
US-dollar loans from funds such as MPOWER and Prodigy do not use the Indian collateral bands.
| Amount |
Public-sector file |
| Up to ₹4 lakh |
Parent as co-applicant. No margin. No collateral. |
| ₹4–7.5 lakh |
Co-applicant. Margin is often 5% in India and 15% abroad. Still no collateral on the standard scheme. |
| Above ₹7.5 lakh |
Tangible security, unless the college is on a premier list or an NBFC will take it unsecured. |
Girl students are often offered 0.50% on public-sector schemes. It counts only when it is written on the sanction. Interest may be deductible under Section 80E once repayment starts, for a notified lender.