Calculate your education loan EMI for SBI, HDFC Credila, ICICI, Axis and more. Includes moratorium period option.
Select Your Bank (Auto-fills rate)
SBI
8.15% p.a.
HDFC Credila
11.00% p.a.
ICICI Bank
10.50% p.a.
Axis Bank
13.70% p.a.
Canara Bank
8.85% p.a.
Bank of Baroda
9.70% p.a.
₹
%
Years
Results
Monthly EMI₹0
Total Interest₹0
Total Payable₹0
Loan Amount₹0
Principal 50%
Interest 50%
More info: Interest rates, Section 80E, FAQs
Education Loan Interest Rates 2026
| Bank | Rate | Max Loan | Moratorium |
|---|---|---|---|
| SBI Scholar Loan | 8.15% | ₹1.5 Cr | Course + 1yr |
| Canara Bank | 8.85% | ₹40 L | Course + 1yr |
| ICICI Bank | 10.50% | ₹1 Cr | Course + 6mo |
| HDFC Credila | 11.00% | No limit | Course + 6mo |
| Axis Bank | 13.70% | ₹75 L | Course + 1yr |
Section 80E Tax Benefit
The entire interest paid on education loan is tax deductible under Section 80E, with no upper limit, for 8 consecutive years from the year repayment starts. Either the student or the parent/spouse who took the loan can claim it. Principal repayment is not deductible under 80E.
Frequently Asked Questions
Do I need collateral? Up to ₹4 Lakh: no collateral. ₹4-7.5 Lakh: third-party guarantee. Above ₹7.5 Lakh: tangible collateral required (many banks waive this for IIT/IIM/NIT students).
What is moratorium period? A repayment holiday covering course duration plus 6 months to 1 year, during which no EMI is due, though interest still accrues.