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SBI Education Loan EMI Calculator

The only free online tool that correctly models SBI's simple interest moratorium - not compound interest. Get your exact monthly EMI, total repayment, and full year-by-year schedule for Global Ed-Vantage and Shaurya schemes.

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Simple interest moratorium - SBI-accurate
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GEV and Shaurya rate presets
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Full amortisation schedule
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Pre-computed tables ₹20L to ₹1.5Cr
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Moratorium saving calculator
₹33,972
EMI on ₹30L @ 8.4% · 12yr
₹18.9L
Total interest over 12 years
₹48.9L
Total amount repaid
Quick EMI calculator
Sliders update instantly - full calculator below
Loan amount₹30 L
₹5L₹3Cr
Interest rate8.4%
7%15%
Repayment tenure12 yr
3yr15yr
Monthly EMI (after moratorium)
₹33,972
Starting after 2.5yr moratorium
Principal
₹30L
Interest
₹18.9L
Total
₹48.9L
Full calculator with amortisation ↓
8.4Female rate from 8.4%
SISimple interest moratorium
15Up to 15-year tenure
0Zero foreclosure charges
80E100% interest tax deductible
SBI education loan EMI is calculated using the standard reducing-balance formula: EMI = P × r × (1+r)ⁿ / [(1+r)ⁿ−1]. Crucially, SBI charges simple interest only during the moratorium period - not compound interest. This is why generic online calculators give wrong results for SBI loans.
Formula: P×r×(1+r)ⁿ / [(1+r)ⁿ−1]
Moratorium: simple interest only
Rate: floating, EBR-linked
Tenure: up to 15 years
No prepayment penalty
SBI education loan EMI calculator

Calculate your Exact EMI, Total Interest and Amortisation Schedule

Select your scheme, adjust all parameters, and get results that correctly account for SBI's simple-interest moratorium.

SBI Education Loan EMI Calculator
Adjust any slider - results update instantly
Moratorium interest payment strategy
Loan amount ₹30 Lakhs
₹7.5L₹3Cr
Interest rate (p.a.) 8.4%
7%15%
Course duration (moratorium) 2 years
1yr6yr
Repayment tenure 12 years
3yr15yr
Monthly EMI (after moratorium)
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Principal borrowed
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SI during moratorium
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Interest during repayment
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Total repayment
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Moratorium ends
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Loan fully repaid
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Moratorium period (simple interest only)
Repayment period (EMIs)
Amortisation Schedule
Year / Phase Opening balance Interest charged Principal paid Total paid this year Closing balance
Amortisation table updates automatically when you change the sliders above. Use the button to open in Excel or Google Sheets.
Ready reference - no calculation needed

SBI Education Loan EMI Table - ₹20 lakh to ₹1.5 crore

Pre-calculated EMI, total interest, and repayment details for the most common SBI Global Ed-Vantage and SBI Shaurya scheme loan amounts. Updates automatically when you change the calculator above.

Tenure - ₹30L loan GEV Female (8.4%) GEV Male (8.9%) Shaurya Female (8.9%) Shaurya Male (9.4%) Total interest @ 8.9% Total repaid @ 8.9%
All EMIs calculated after standard 2-year course + 6-month moratorium (2.5 years total). Simple interest during moratorium is paid upfront in these calculations. Figures are indicative - actual EMI may vary based on disbursement schedule.
The most important decision in your loan journey

SBI Education Loan Moratorium

Most students let interest accrue during the moratorium without realising the significant long-term cost. This section shows the exact rupee difference.

Your SBI education loan - three phases
Understanding all three phases helps you make the single most impactful financial decision available during your studies
Phase 1
Moratorium
Course duration (1–6 years). No EMI required. Simple interest only accrues. You can pay it monthly or let it accumulate.
Phase 2
Grace period
6 months after graduation. No EMI. Simple interest continues. Time to find employment before repayment starts.
Phase 3
Repayment
EMIs begin. Up to 15 years. If you did NOT pay SI in phases 1–2, that accumulated interest joins your principal - increasing your EMI.
Moratorium saving calculator - see the exact rupee difference
Loan amount₹40L
Interest rate8.9%
Moratorium duration2.5 yrs
Repayment tenure12 yrs
By paying simple interest during moratorium instead of letting it accrue, you save
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SBI - Simple interest during moratorium ✓
  • ✓Interest calculated only on original principal each month
  • ✓SI does not compound - no interest on interest
  • ✓Pay SI monthly to keep principal unchanged at repayment start
  • ✓Results in lower EMI compared to compound interest lenders
  • ✓Saving: ₹2–5L on a ₹40L loan over 2.5-year moratorium vs NBFC
NBFCs / Private banks - compound interest ✗
  • ✗Interest compounds monthly during moratorium
  • ✗Interest gets added to principal each month
  • ✗You pay interest on already-accumulated interest
  • ✗Higher opening balance when EMIs start
  • ✗Result: significantly higher total repayment
Complete mathematical breakdown

How Interest is Calculated on SBI Education Loan

Understanding the formula helps you verify your EMI, plan prepayments, and negotiate at the branch.

SBI education loan - two distinct calculation phases
Most calculators only handle the repayment phase. SBI education loans have two phases with different mathematics.
Phase 1 - moratorium (simple interest)
SI = P × (R/100) × T
P = principal | R = annual rate | T = moratorium years. Simple rate - no compounding. Pay monthly or let accumulate.
Phase 2 - repayment (reducing balance)
EMI = P' × r × (1+r)ⁿ / [(1+r)ⁿ − 1]
P' = principal at repayment start | r = monthly rate = Annual ÷ 12 ÷ 100 | n = tenure months.
Worked example - ₹30L loan at 8.4% | 2-year course | 12-year repayment | SI paid during moratorium
1
Moratorium = 2 years + 6 months = 2.5 years. SI per year = ₹30,00,000 × 8.4/100 = ₹2,52,000. Total SI = ₹6,30,000. Monthly SI ≈ ₹21,000/month.
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Since SI is paid, during moratorium, principal at repayment start = ₹30,00,000. Monthly interest rate r = 8.4 ÷ 12 ÷ 100 = 0.007. n = 12 × 12 = 144 months.
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EMI = 30,00,000 × 0.007 × (1.007)¹⁴⁴ + [(1.007)¹⁴⁴ − 1] = 2.8456.
Monthly EMI = ₹32,420 | Total repayment = ₹46.65L | Total SI paid = ₹6.3L | Grand total = ₹52.95L

Important: All EMI calculations are based on a standard 2-year course + 6-month moratorium using an 8.4% floating interest rate. Actual EMI may vary depending on loan disbursement schedule, EBLR revisions, repayment tenure, and whether simple interest during the moratorium is paid or added to the principal.

Current SBI Education Loan Interest Rates - All Schemes

8.4% p.a.
GEV - Female students
8.9% p.a.
GEV - Male students
8.9% p.a.
Shaurya - Female (defence)
9.4% p.a.
Shaurya - Male (defence)
Rates are floating - linked to SBI's External Benchmark Rate (EBR). They change when RBI revises the repo rate. Rates shown are indicative for 2026 - verify at sbi.co.in before signing any document.
Frequently asked questions

SBI education loan calculator - common questions

Showing 1 categories · 6 questions in EMI Basics
SBI education loan EMI uses the standard reducing-balance formula: EMI = P × r × (1+r)ⁿ / [(1+r)ⁿ−1], where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the repayment tenure in months. The key SBI-specific feature is that simple interest (not compound) is charged during the moratorium period - this makes SBI's total repayment lower than NBFC alternatives.
Most generic online EMI calculators assume compound interest during the moratorium and do not separately model the moratorium phase. SBI charges only simple interest during the moratorium (course duration + 6 months) - not compound interest. If you use a standard calculator, it either ignores the moratorium or compounds the interest, giving you a higher-than-actual EMI result. This calculator correctly separates the two phases.
For a ₹20L loan at 8.9% (male) over 12 years after a 2.5-year moratorium (SI paid): EMI ≈ ₹22,500/month. At 8.4% (female): EMI ≈ ₹22,000/month. At 10-year tenure at 8.9%: EMI ≈ ₹25,300/month. Use the calculator above with your exact loan amount and rate for the precise figure.
For a ₹30L loan at 8.9% over 12 years (SI paid during moratorium): EMI ≈ ₹33,972/month. At 8.4% (female): EMI ≈ ₹33,170/month. At 10-year tenure at 8.9%: EMI ≈ ₹37,920/month. Total repayment over 12 years at 8.9%: approximately ₹48.9L.
For a ₹40L loan at 8.9% over 12 years (SI paid during moratorium): EMI ≈ ₹45,296/month. At 8.4% (female): EMI ≈ ₹44,227/month. At 15-year tenure at 8.9%: EMI ≈ ₹40,200/month. Total repayment over 12 years at 8.9%: approximately ₹65.2L.
For a ₹50L loan at 8.9% over 12 years (SI paid during moratorium): EMI ≈ ₹56,620/month. At 8.4% (female): EMI ≈ ₹55,284/month. At 15-year tenure at 8.9%: EMI ≈ ₹50,300/month. Total repayment over 12 years at 8.9%: approximately ₹81.5L.
Showing 1 categories · 3 questions in Moratorium
The moratorium period for SBI education loans (Global Ed-Vantage and Shaurya) is the full course duration plus 6 months after graduation. For a 2-year MS program, total moratorium = 2.5 years. For a 1-year MBA, total moratorium = 1.5 years. No EMI is payable during this period. Only simple interest accrues.
Yes - strongly recommended if financially possible. By paying the simple interest as it accrues during the moratorium, you prevent it from being added to your principal. On a ₹40L loan at 8.9% over a 2.5-year moratorium, this saves approximately ₹3.5–5L in total repayment and reduces your post-graduation EMI by approximately ₹3,500–5,000/month.
SBI charges simple interest on the outstanding principal during the moratorium. You have two options: (1) Pay the simple interest monthly as it accrues - your principal stays unchanged when EMI begins. (2) Let it accumulate - the total accumulated SI gets added to your principal before EMI calculation begins, resulting in higher EMIs. Option 1 is significantly cheaper over the full loan tenure.
Showing 1 categories · 3 questions in Interest Rates
Current SBI education loan interest rates: Global Ed-Vantage Female: 8.4% p.a. | Global Ed-Vantage Male: 8.9% p.a. | Shaurya Female (defence): 9.15% p.a. | Shaurya Male (defence): 9.65% p.a. Rates are floating - linked to SBI's External Benchmark Rate (EBR). An additional 0.5% concession applies with RiNn Raksha insurance. Verify the latest rate at sbi.co.in before applying.
Floating. SBI education loan rates are linked to the External Benchmark Rate (EBR), which moves with the RBI repo rate. When RBI cuts the repo rate, your loan interest rate automatically reduces at the next reset date. This is a significant advantage over NBFCs which often offer fixed-rate loans that do not benefit from rate cuts.
Yes. Section 80E of the Income Tax Act allows 100% deduction of education loan interest from taxable income - with no upper cap. This deduction is available for up to 8 consecutive assessment years from the year repayment begins. Available only under the old tax regime. Obtain an interest certificate from SBI at year-end to claim this deduction.
Showing 1 categories · 3 questions in Repayment
Zero - SBI charges no prepayment or foreclosure penalty on any education loan scheme including Global Ed-Vantage and Shaurya. You can repay partially or in full at any time without any additional charge. This is a major advantage over NBFCs which typically charge 2–5% foreclosure fees.
15 years from the date the first EMI begins - i.e., after the moratorium period ends. For a 2-year course, first EMI starts after 2.5 years, and the loan can be fully repaid over the subsequent 15 years. Total loan period from first disbursement = 17.5 years. Longer tenure means lower EMI but higher total interest.
If you are in the 30% tax bracket and pay ₹3L in education loan interest in a year, you save ₹90,000 in tax (30% of ₹3L). This reduces your effective interest cost for that year from ₹3L to ₹2.1L. Over 8 years of repayment, total tax savings can range from ₹3–10L depending on income bracket and loan size - significantly reducing the true cost of the loan.

Discuss with the Education loan team