Punjab & Sind Bank Education Loan EMI Calculator
Pick one of the 3 Punjab & Sind Bank 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: 9.65% p.a. (Range: 9.65% – 10.40% p.a.). Read from Punjab & Sind Bank's own website; your rate depends on your profile.
Borrowing ₹10,00,000 at 9.65% with a moratorium of 3 years, ₹2,89,500 of interest is added to the loan before EMIs start. You then owe ₹12,89,500, an EMI of ₹16,792 for 10 years, and ₹10,15,020 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
Punjab & Sind Bank · Public sector bank
PSB Model Education Loan
9.65%–10.4% (the calculator uses the lower figure)
Processing fee: No processing / upfront charges may be levied on loans sanctioned under the scheme. Borrower to deposit Rs. 2000/- (for studies abroad) in lieu of Processing fee, in Saving account ... Otherwise the same be recovered as processing fee.
Effective: 8 Oct 2026 · 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
Assumption: Punjab & Sind Bank's rate page we read does not say how it charges interest during the moratorium. If interest compounds monthly instead, the moratorium interest would be ₹3,34,214.
Your tax slab (old regime)
Plus 4% cess. Surcharge is not included.
EMI after moratorium
₹16,792
for 10 years, from month 37
Moratorium interest
₹2,89,500
over 3 years, added to the loan
Owed when EMIs start
₹12,89,500
Total interest
₹10,15,020
₹7,25,520 in EMIs + ₹2,89,500 moratorium
Total payment
₹20,15,020
Est. 80E tax saving
₹2,14,559
old regime, 30% slab + cess, 8 years
Amount borrowed vs interest
- Principal
- 49.6%
- ₹10,00,000
- Total interest
- 50.4%
- ₹10,15,020
Section 80E estimate by year
| Year | Interest paid | Tax saved |
|---|---|---|
| Year 4 | ₹1,20,935 | ₹37,732 |
| Year 5 | ₹1,12,807 | ₹35,196 |
| Year 6 | ₹1,03,859 | ₹32,404 |
| Year 7 | ₹94,008 | ₹29,330 |
| Year 8 | ₹83,163 | ₹25,947 |
| Year 9 | ₹71,224 | ₹22,222 |
| Year 10 | ₹58,081 | ₹18,121 |
| Year 11 | ₹43,612 | ₹13,607 |
| Year 12 | ₹27,683 | Outside limit |
| Year 13 | ₹10,147 | 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. ₹37,830 of interest falls after the 8-year window.
Compare repayment tenures
| Tenure | EMI | Interest in EMIs |
|---|---|---|
| 5 years | ₹27,177 | ₹3,41,083 |
| 7 years | ₹21,175 | ₹4,89,171 |
| 10 years | ₹16,792 | ₹7,25,520 |
| 15 years | ₹13,582 | ₹11,55,355 |
Amortisation Schedule
How each instalment splits between interest and principal over time.
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EMI
₹16,792
Punjab & Sind Bank education loan schemes
3 schemes, each read from Punjab & Sind Bank's own website. Pick any of them in the calculator above.
PM-Vidyalaxmi (need based)
8.1%
Only for listed/rated institutesIndiaPM-Vidyalaxmi
- Benchmark
- PRLR 7.60% + 0.50%
- Processing fee
- Not published on the page we checked
- Effective
- 8 Oct 2026
- Last verified
- 21 Oct 2026
Model Education Loan under CGFSEL / CGFSSD (up to ₹7.5 lakh, no collateral)
9.1% – 9.6%
Check eligibility with the bankWithout collateral
- Benchmark
- PRLR 7.60% + CRP + BSP
- Processing fee
- No processing / upfront charges (Rs 2000 deposit for studies abroad)
- Effective
- 8 Oct 2026
- Last verified
- 21 Oct 2026
The table has two rows (9.60% and 9.10%) for overlapping amounts; shown as printed.
PSB Model Education Loan
9.65% – 10.4%
- Benchmark
- PRLR 7.60% + CRP + BSP
- Processing fee
- No processing / upfront charges may be levied on loans sanctioned under the scheme. Borrower to deposit Rs. 2000/- (for studies abroad) in lieu of Processing fee, in Saving account ... Otherwise the same be recovered as processing fee.
- Effective
- 8 Oct 2026
- Last verified
- 21 Oct 2026
PRLR 7.60% (Repo 5.50% w.e.f 08.10.2026 + markup 2.10%).
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 →
Punjab & Sind Bank education loan (study in India or abroad) rates
Verified on 21 October 2026 from Punjab & Sind Bank's site ↗
- Starting from
- 9.65% p.a.
- Published range
- 9.65% – 10.4%
- Processing fee
- No processing / upfront charges may be levied on loans sanctioned under the scheme. Borrower to deposit Rs. 2000/- (for studies abroad) in lieu of Processing fee, in Saving account ... Otherwise the same be recovered as processing… Full terms on the bank's page
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 Punjab & Sind Bank compares
Punjab & Sind Bank's education loan starting rate of 9.65% is the 4th lowest of 18 banks with a verified rate. The lowest is Bank of Maharashtra at 8.8%, and the median is 10%.
- Punjab & Sind Bank
- ₹13,022
- 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
9.65% p.a.
9.65% – 10.40% p.a.
No processing / upfront charges may be levied on loans sanctioned under the scheme. Borrower to deposit Rs. 2000/- (for studies abroad) in lieu of Processing fee, in Saving account ... Otherwise the same be recovered as processing… Full terms on the bank's page
Applicable Conditions & Eligibility Factors:
- The lowest rate open to all students the bank publishes (study in India or 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: Punjab & Sind Bank education loan rates (official)
Rates subject to borrower risk-grade & RBI regulatory changes.How It Works
- 1Choose a Punjab & Sind Bank 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.
- 3Punjab & Sind Bank's pages we checked do not say how moratorium interest is worked out, so simple interest is an assumption; the compounded figure is shown alongside.
- 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
- •PM-Vidyalaxmi: Punjab & Sind Bank has a separate rate for students at institutions covered by the scheme, set by the institution's tier.
- •Some Punjab & Sind Bank rates come with conditions (check eligibility with the bank); they are tagged in the table, and the calculator starts on a rate open to all.
- •Some Punjab & Sind Bank rates are only for students at institutes on the bank's list or in its rating categories (PM-Vidyalaxmi (need based)); they are tagged in the table, and the calculator starts on a rate open to all students.
- •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: Punjab & Sind Bank Education Loan EMI Calculator
For a ₹10,00,000 loan at the starting rate of 9.65% a year, with a 24-month course and a 12-month grace period, simple interest of ₹2,89,500 builds up before repayment starts, so ₹12,89,500 is repaid over 10 years (120 months). The EMI is ₹16,792, with total interest of ₹10,15,020. If you pay the interest while you study, the EMI is lower; the calculator above shows each option.
Frequently Asked Questions: Punjab & Sind Bank Education Loan EMI Calculator
- What is Punjab & Sind Bank's education loan (study in India or abroad) interest rate?
- Punjab & Sind Bank publishes education loan (study in India or abroad) rates starting from 9.65% a year (up to 10.4%), 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: No processing / upfront charges may be levied on loans sanctioned under the scheme. Borrower to deposit Rs. 2000/- (for studies abroad) in lieu of Processing fee, in Saving account ... Otherwise the same be recovered as processing… (abridged; the full terms are on the bank's page)
- Which Punjab & Sind Bank education loan schemes does this calculator cover?
- PM-Vidyalaxmi (need based); Model Education Loan under CGFSEL / CGFSSD (up to ₹7.5 lakh, no collateral); PSB Model Education Loan. Each rate was read from Punjab & Sind Bank's own website; the table lists the source, effective date and date checked.
- How does Punjab & Sind Bank charge interest during the moratorium?
- The Punjab & Sind Bank pages we checked do not say. The calculator assumes simple interest during the course and grace period, shows the compounded figure for comparison, and lets you choose to pay the interest while studying instead. Ask the branch how it will be charged.
- Is Punjab & Sind Bank's processing fee included in the EMI?
- No, a Punjab & Sind Bank loan EMI covers principal and interest only. Punjab & Sind Bank'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 Punjab & Sind Bank 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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