An animated walkthrough of the free eduloan calculator
Your bank calls it a repayment holiday. For the whole course plus twelve months, no EMI is due — and simple interest quietly stacks up on every rupee disbursed. At the end it is added to your principal, and your EMI is set on the total. That one clause routinely moves an education loan by lakhs.
Runs entirely in your browser · nothing leaves your device · why that's enforced, not promised
Type ₹10,00,000 at 10% for 10 years into any EMI tool and it says ₹13,215.07 a month. True — and useless for an education loan, because it prices the loan as if repayment starts tomorrow. It doesn't. Under the IBA Model Education Loan Scheme, repayment starts after the course period plus 12 months, and the interest for that whole stretch is yours to carry.
Worked example, verified to the paisa
₹10,00,000 sanctioned · 10% p.a. · 4-year course + 12-month tail · 10-year repayment
The moratorium is a choice, not a sentence. You can pay nothing, serve the interest, or pay whatever little a family can spare. eduloan builds the full month-by-month schedule for all three and puts them side by side — computed in integer paise, so every difference is exact.
Pay nothing until repayment begins — the default nobody questions.
the baseline everything is measured against
₹8,333.33 a month during study keeps the principal untouched.
saves ₹2,92,904.15 vs paying nothing
What a family can actually spare still bends the whole curve.
saves ₹1,05,445.79 vs paying nothing
Worked example only: lump-sum disbursement, simple-interest accrual per the IBA model scheme, one constant rate for the whole tenor. Every figure above is re-derived by this page's own test suite with the same paise-exact conventions the calculator uses. Your loan will differ — run your own numbers.
No black box. The calculator's arithmetic follows published rules, cites them verbatim, and proves itself.
All money is computed in integer paise — never floating rupees — and every schedule closes at exactly ₹0.00. The closed-form annuity EMI is cross-checked against the full month-by-month simulation.
Simple interest through course + 12 months, capitalised at repayment start — the model-scheme treatment, quoted verbatim in the app's rules panel with source and verified-on date. A labelled toggle switches to monthly compounding for banks that do that instead.
The app shows the verbatim statute and your per-financial-year interest-paid figures — the number an 80E deduction claim is based on. It never invents a "tax saved" rupee amount.
A cited eligibility checklist for the Central Sector Interest Subsidy. Declaring yourself eligible annotates the full-moratorium scenario — "borne by GoI if approved, confirm with your bank" — and never silently changes the math.
A loan application is your family's whole balance sheet. Most calculators promise not to send it anywhere. eduloan makes the promise impossible to break: the page ships a Content-Security-Policy the browser itself enforces.
Content-Security-Policy:
default-src 'self';
connect-src 'none';
img-src 'self' data:;
base-uri 'none'; form-action 'none';
frame-ancestors 'none'; object-src 'none'connect-src 'none' means the browser refuses every outgoing request — not "we don't send data", but "sending is impossible".Sanctioned amount, rate, course length, an editable moratorium tail, tenure up to 15 years, and lump-sum or yearly/semester tranche disbursement — with instant recompute.
A live timeline of your three balance paths — the hatched gold wedge is your interest accruing while nobody pays, redrawn as you type.
Accrual rows through the moratorium, then amortisation grouped by year, closing at exactly ₹0.00 — with per-financial-year (April–March) interest subtotals for your 80E claim.
Save comparisons under your own names in localStorage, and come back to them — nothing needs an account.
A one-page printable comparison sheet (three scenarios, assumptions and sources) and RFC-4180 CSV export of any schedule — the only backup, by design.
Every fact the engine relies on — IBA scheme clauses, Section 80E, CSIS figures — listed with clause citation, source and verified-on date. Nothing invented.
Free, no signup, no tracking — and the moratorium finally on the table.
Open the eduloan calculatorsreenivas-sadhu-prabhakara.github.io/eduloan