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More about Education Loan Calculator

  • How to use our Education Loan Calculator? 
  • To use the HDFC Bank Study Loan Calculator, follow these steps:
  • Visit the HDFC Bank’s official website.
  • Navigate to the ‘Tools and Calculators’ section.
  • Select the ‘Education Loan EMI Calculator’.
  • Enter the loan amount you need for your education.
  • Input the interest rate offered by the bank.
  • Specify the loan tenure in years.
  • Click on ‘Calculate’ to get your monthly EMI.

FAQ's

The EMI for a ₹15 lakh Education Loan depends on the interest rate and loan tenure.

Interest on an Education Loan is calculated using the reducing balance method. The interest is computed on the outstanding principal amount, which decreases with each EMI payment. 

The formula for calculating the EMI for Education Loans is given by:

[PR(1+R)^n]/[(1+R)^n-1] 

Where:

  • P represents the principal loan amount,

  • R is the rate of interest per month (annual rate of interest divided by 12),

  • n is the loan tenure in months.

Secure your future—apply now for an education loan today!

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