Loan You Can Get
₹0
Owed When Repayment Starts
₹0
EMI After the Moratorium
₹0
starting in 0 months, for 0 yearsWhat the Moratorium Costs You
Sanctioned
Interest While You Study
Owed at Repayment
The Arithmetic, on Your Numbers
Collateral and Government Support
Where these figures come from. The margin — nil up to ₹4 lakh, then 5% for study in India and 15% for study abroad — is the IBA Model Education Loan Scheme, which banks adopt rather than a law they must follow, so your lender may differ; the field above is editable for that reason. CGFSEL, notified on 16 September 2015, lets loans up to ₹7.5 lakh be given without collateral or a guarantor, with NCGTC guaranteeing 75% of any default. PM-Vidyalaxmi, approved by the Union Cabinet on 6 November 2024, goes further for students admitted on merit to a Quality Higher Educational Institution: no collateral and no guarantor whatever the amount, plus a 3% interest subvention during the moratorium on loans up to ₹10 lakh where annual family income is below ₹8 lakh.
Two things to check rather than assume. The QHEI list is defined by NIRF ranking and revised every year, so whether your institution qualifies is a question for the official PM-Vidyalaxmi portal, not for this page — which is why it is a box you tick. And a separate full interest subsidy exists for lower family incomes; its terms and how it interacts with the subvention above are not modelled here, deliberately, because quoting a benefit you may not receive is worse than staying quiet about one you might.
This is an estimate of what the numbers support, not a sanction. A lender also weighs the institution and course, the student's academic record, the co-applicant's credit history and, above the collateral-free limits, the security offered. Interest during the moratorium is charged as simple interest and capitalised when repayment begins — the standard practice, though confirm it with your lender, and note that most banks offer a rate concession of around 1% if you service the interest as it accrues.