IDFC FIRST Education Loan EMI Calculator
Pick one of the 2 IDFC FIRST education loan schemes we read from the bank's own website, or type the rate you are offered. Add the course length and grace period to see the interest that builds up before EMIs start.
Official Rate Formula & Benchmark:
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is what you owe when the moratorium ends and r is the monthly rate.
Current official starting rate: 9.50% p.a. (Range: 9.50% – 9.50% p.a.). Read from IDFC FIRST's own website; your rate depends on your profile.
Borrowing ₹10,00,000 at 9.5% with a moratorium of 3 years, ₹2,85,000 of interest is added to the loan before EMIs start. You then owe ₹12,85,000, an EMI of ₹16,628 for 10 years, and ₹9,95,278 in total interest.
Picking a lender fills in its lowest published figure for that scheme. Your rate depends on your profile, course or vehicle, and can be higher. Compare all education loan rates
IDFC FIRST Bank · Private bank
Study abroad, collateral-free
9.5%
Processing fee: Up to Rs. 7.5 Lacs – NIL Above Rs. 7.5 Lacs -Up to 1.5%* of the Loan Amount or as per any special scheme run by the bank.
Effective: Not stated · Last verified 21 Oct 2026 · Lender’s rate page
The amount disbursed. Interest during the moratorium is worked out for you.
Check your sanction letter for the exact repayment holiday.
Interest during the moratorium
Per IDFC FIRST’s page (IDFC FIRST Bank education loan): “Simple Interest (SI) - Begin repaying accrued simple interest immediately, while you study. ... The moratorium/partial Simple Interest (SI) period for student loans is defined as the course duration plus a 12-month grace period after course completion. ... The total interest accrued during this period is added to your original principal to form the revised principal.” Source, checked 2026-10-21.
Your tax slab (old regime)
Plus 4% cess. Surcharge is not included.
EMI after moratorium
₹16,628
for 10 years, from month 37
Moratorium interest
₹2,85,000
over 3 years, added to the loan
Owed when EMIs start
₹12,85,000
Total interest
₹9,95,278
₹7,10,278 in EMIs + ₹2,85,000 moratorium
Total payment
₹19,95,278
Est. 80E tax saving
₹2,10,091
old regime, 30% slab + cess, 8 years
Amount borrowed vs interest
- Principal
- 50.1%
- ₹10,00,000
- Total interest
- 49.9%
- ₹9,95,278
Section 80E estimate by year
| Year | Interest paid | Tax saved |
|---|---|---|
| Year 4 | ₹1,18,612 | ₹37,007 |
| Year 5 | ₹1,10,580 | ₹34,501 |
| Year 6 | ₹1,01,751 | ₹31,746 |
| Year 7 | ₹92,047 | ₹28,719 |
| Year 8 | ₹81,378 | ₹25,390 |
| Year 9 | ₹69,652 | ₹21,731 |
| Year 10 | ₹56,761 | ₹17,709 |
| Year 11 | ₹42,591 | ₹13,288 |
| Year 12 | ₹27,014 | Outside limit |
| Year 13 | ₹9,892 | Outside limit |
Years are 12-month periods from the first disbursement, not financial years. Interest added to the loan during the moratorium is repaid inside the principal part of later EMIs; this estimate counts only interest you pay as interest, which is what your lender’s interest certificate shows. The saving also needs enough taxable income to absorb the deduction. ₹36,906 of interest falls after the 8-year window.
Compare repayment tenures
| Tenure | EMI | Interest in EMIs |
|---|---|---|
| 5 years | ₹26,987 | ₹3,34,250 |
| 7 years | ₹21,002 | ₹4,79,170 |
| 10 years | ₹16,628 | ₹7,10,278 |
| 15 years | ₹13,418 | ₹11,30,354 |
Amortisation Schedule
How each instalment splits between interest and principal over time.
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EMI
₹16,628
IDFC FIRST education loan schemes
2 schemes, each read from IDFC FIRST's own website. Pick any of them in the calculator above.
Study abroad, collateral-free
9.5%
AbroadWithout collateral
- Processing fee
- Up to Rs. 7.5 Lacs – NIL Above Rs. 7.5 Lacs -Up to 1.5%* of the Loan Amount or as per any special scheme run by the bank.
- Effective
- Not stated
- Source
- IDFC FIRST's page ↗ · fee page ↗
- Last verified
- 21 Oct 2026
An FAQ on the same page (headed 'for 2025') gives unsecured 11.75%-14% and secured 9.5%-11.25%, which conflicts with the product cards; the product cards are used.
India, collateral-free
11.25%
IndiaWithout collateral
- Processing fee
- Up to Rs. 7.5 Lacs – NIL Above Rs. 7.5 Lacs -Up to 1.5%* of the Loan Amount or as per any special scheme run by the bank.
- Effective
- Not stated
- Source
- IDFC FIRST's page ↗ · fee page ↗
- Last verified
- 21 Oct 2026
The rate you are offered depends on the bank's assessment and can be higher than the starting rate. Compare education loan rates across lenders →
IDFC FIRST education loan (study abroad) rates
Verified on 21 October 2026 from IDFC FIRST's site ↗
- Starting from
- 9.5% p.a.
- Published range
- Only the starting rate is published
- Processing fee
- Study abroad, collateral-free: Up to Rs. 7.5 Lacs – NIL Above Rs. 7.5 Lacs -Up to 1.5%* of the Loan Amount or as per any special scheme run by the bank.
The rate you are offered depends on your credit score, income and employer and can be higher than the starting rate. RBI rules do not allow foreclosure or part-prepayment charges on floating-rate loans to individuals (other than for business purposes).
How IDFC FIRST compares
IDFC FIRST's education loan starting rate of 9.5% is the 3rd lowest of 18 banks with a verified rate. The lowest is Bank of Maharashtra at 8.8%, and the median is 10%.
- IDFC FIRST
- ₹12,940
- Bank of Maharashtra
- ₹12,560
- Median bank
- ₹13,215
Monthly EMI on ₹10,00,000 on a 10-year loan, at each bank's starting rate. Your own rate depends on the bank's assessment.
Rate Verification & Official Notice
9.50% p.a.
9.50% – 9.50% p.a.
Study abroad, collateral-free: Up to Rs. 7.5 Lacs – NIL Above Rs. 7.5 Lacs -Up to 1.5%* of the Loan Amount or as per any special scheme run by the bank.
Applicable Conditions & Eligibility Factors:
- The lowest rate open to all students the bank publishes (study abroad); lower rates for listed institutes, specific courses or with collateral are not used. Your rate depends on the course, the institution and the co-borrower's credit profile
Source: IDFC FIRST education loan rates (official)
Rates subject to borrower risk-grade & RBI regulatory changes.How It Works
- 1Choose a IDFC FIRST scheme: its rate, processing fee, effective date and source fill in.
- 2Enter the course length and the grace period after it; together they make the moratorium.
- 3IDFC FIRST's own page says it charges simple interest during the moratorium (IDFC FIRST Bank education loan); the calculator quotes it with the source.
- 4The EMI is worked out on what you owe when repayment starts, and interest paid is estimated year by year for Section 80E (old tax regime).
Key Factors Influencing Your Rate
- •Where you study: IDFC FIRST publishes separate rates for courses in India and abroad.
- •Your institution, course, co-borrower's income and credit score decide where in the range you land.
PM-Vidyalaxmi: interest subvention
- 3% interest subvention during the moratorium on loans up to ₹10,00,000, for students with annual family income up to ₹8,00,000 who get no other government scholarship or subvention. It goes to one lakh students a year, and from the second year it depends on satisfactory academic performance.
- Collateral-free and guarantor-free loans for admission to qualifying institutions (top 100 in NIRF rankings, state government institutions ranked 101-200, and central government institutions) through merit-based admission.
- A 75% credit guarantee for loans up to ₹7,50,000.
- Rates are capped at the bank’s external benchmark lending rate (EBLR) + 0.5%. Repayment up to 15 years after the moratorium (course period + 1 year).
- Under the related CSIS scheme, students with family income up to ₹4,50,000 on technical or professional courses get full interest subvention during the moratorium on loans up to ₹10,00,000.
The calculator does not deduct the subvention, because the official pages do not say how it is worked out. Apply and check eligibility on the official PM-Vidyalaxmi portal. Figures from PIB: Cabinet release, 6 Nov 2024, Lok Sabha reply, 27 Jul 2026 and press note, 29 Jul 2026; checked 21 Oct 2026.
Section 80E: what we confirmed
- The deduction is the interest paid on a loan for higher education of yourself or a relative, with no rupee limit. Principal repayment does not count.
- Available only under the old tax regime. It is not in the income tax portal’s new regime list.
- The loan must come from a financial institution or an approved charitable institution.
- Individuals only; HUFs cannot claim it.
- The 8-year limit is in the Act itself. We could not open the Act text on an official site, so it is shown as unverified and you can switch it off above.
The Income-tax Act, 1961 was repealed on 1 April 2026 and replaced by the Income-tax Act, 2025; the AY 2026-27 return pages still use the 80E name. Sources: income tax portal, deductions for AY 2026-27, ITR-4 instructions, ITR-2 instructions and new Act FAQ; checked 21 Oct 2026.
Worked Numerical Example: IDFC FIRST Education Loan EMI Calculator
For a ₹10,00,000 loan at the starting rate of 9.5% a year, with a 24-month course and a 12-month grace period, simple interest of ₹2,85,000 builds up before repayment starts, so ₹12,85,000 is repaid over 10 years (120 months). The EMI is ₹16,628, with total interest of ₹9,95,278. If you pay the interest while you study, the EMI is lower; the calculator above shows each option.
Frequently Asked Questions: IDFC FIRST Education Loan EMI Calculator
- What is IDFC FIRST's education loan (study abroad) interest rate?
- IDFC FIRST publishes education loan (study abroad) rates starting from 9.5% a year, checked on 21 October 2026. The rate you are offered depends on your credit score, income and employer. Processing fee, in the bank's words: Study abroad, collateral-free: Up to Rs. 7.5 Lacs – NIL Above Rs. 7.5 Lacs -Up to 1.5%* of the Loan Amount or as per any special scheme run by the bank.
- Which IDFC FIRST education loan schemes does this calculator cover?
- Study abroad, collateral-free; India, collateral-free. Each rate was read from IDFC FIRST's own website; the table lists the source, effective date and date checked.
- How does IDFC FIRST charge interest during the moratorium?
- In IDFC FIRST's own words (IDFC FIRST Bank education loan): "Simple Interest (SI) - Begin repaying accrued simple interest immediately, while you study. ... The moratorium/partial Simple Interest (SI) period for student loans is defined as the course duration plus a 12-month grace period after course completion. ... The total interest accrued during this period is added to your original principal to form the revised principal."
- Is IDFC FIRST's processing fee included in the EMI?
- No, a IDFC FIRST loan EMI covers principal and interest only. IDFC FIRST's processing fee, in the bank's own words, is listed against each scheme in the scheme table; it is usually paid upfront or deducted from the amount disbursed.
- Can I claim Section 80E on a IDFC FIRST education loan?
- Section 80E covers the interest (not the principal) on an education loan from a bank, under the old tax regime. The calculator estimates the saving from the interest you pay each year; see the Section 80E notes and official sources on the education loan EMI calculator.
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