PNB Education Loan EMI Calculator
Pick one of the 7 PNB 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: 10.35% p.a. (Range: 10.35% – 10.35% p.a.). Read from PNB's own website; your rate depends on your profile.
Borrowing ₹10,00,000 at 10.35% with a moratorium of 3 years, ₹3,10,500 of interest is added to the loan before EMIs start. You then owe ₹13,10,500, an EMI of ₹17,573 for 10 years, and ₹11,08,832 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 National Bank · Public sector bank
PNB Saraswati (study in India), up to ₹7.5 lakh without collateral (CGFSEL)
10.35%
Concession for girl students / women: Female students 9.85%
Processing fee: For Studies in India- NIL
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
Assumption: PNB'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 ₹3,62,292.
Your tax slab (old regime)
Plus 4% cess. Surcharge is not included.
EMI after moratorium
₹17,573
for 10 years, from month 37
Moratorium interest
₹3,10,500
over 3 years, added to the loan
Owed when EMIs start
₹13,10,500
Total interest
₹11,08,832
₹7,98,332 in EMIs + ₹3,10,500 moratorium
Total payment
₹21,08,832
Est. 80E tax saving
₹2,35,890
old regime, 30% slab + cess, 8 years
Amount borrowed vs interest
- Principal
- 47.4%
- ₹10,00,000
- Total interest
- 52.6%
- ₹11,08,832
Section 80E estimate by year
| Year | Interest paid | Tax saved |
|---|---|---|
| Year 4 | ₹1,31,963 | ₹41,172 |
| Year 5 | ₹1,23,397 | ₹38,500 |
| Year 6 | ₹1,13,900 | ₹35,537 |
| Year 7 | ₹1,03,373 | ₹32,252 |
| Year 8 | ₹91,704 | ₹28,612 |
| Year 9 | ₹78,767 | ₹24,575 |
| Year 10 | ₹64,426 | ₹20,101 |
| Year 11 | ₹48,528 | ₹15,141 |
| Year 12 | ₹30,905 | Outside limit |
| Year 13 | ₹11,368 | 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. ₹42,273 of interest falls after the 8-year window.
Compare repayment tenures
| Tenure | EMI | Interest in EMIs |
|---|---|---|
| 5 years | ₹28,070 | ₹3,73,737 |
| 7 years | ₹21,994 | ₹5,36,944 |
| 10 years | ₹17,573 | ₹7,98,332 |
| 15 years | ₹14,365 | ₹12,75,040 |
Amortisation Schedule
How each instalment splits between interest and principal over time.
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EMI
₹17,573
PNB education loan schemes
7 schemes, each read from PNB's own website. Pick any of them in the calculator above.
PM-Vidyalaxmi (1,441 listed institutions)
7.1% – 8.85%
Only for listed/rated institutesIndiaPM-Vidyalaxmi
- Benchmark
- RLLR + BSP -1.25% to +0.50%
- Processing fee
- For Studies in India- NIL
- Effective
- Not stated
- Source
- PNB's page ↗ · fee page ↗
- Last verified
- 21 Oct 2026
Shown as printed. The page prints the A tier as 'RLLR + BSP - 0.50% (Presently 8.85%)', which does not match its own arithmetic (8.35% - 0.50% = 7.85%), so the 8.85% maximum may be a slip on the bank's page.
PNB Pratibha, premier institutes in India (above ₹7.5 lakh)
7.2% – 8.1%
Only for listed/rated institutesIndia
- Benchmark
- RLLR + BSP -1.15% to -0.25%
- Processing fee
- For Studies in India- NIL
- Effective
- Not stated
- Source
- PNB's page ↗ · fee page ↗
- Last verified
- 21 Oct 2026
PNB Saraswati (study in India), with 100% collateral
8.35% – 9.6%
Only for medical courses (MBBS / MD / MS / PG)Only with collateralIndiaWith collateral
- Girl students / women
- Female students 9.10% (0.50% lower) on secured loans
- Benchmark
- RLLR + BSP (8.35%) + 0 to 1.25%
- Processing fee
- For Studies in India- NIL
- Effective
- Not stated
- Source
- PNB's page ↗ · fee page ↗
- Last verified
- 21 Oct 2026
8.35% only for medical courses; general secured rate 9.60%. Fixed rates are also published (10.60%-11.10%).
PNB Udaan (study abroad), with 100% collateral
8.35% – 9.6%
Only for top-50 institutes or medical coursesOnly with collateralAbroadWith collateral
- Girl students / women
- Female students 9.10% on general secured loans; none at the top-50 rate
- Benchmark
- RLLR + BSP (8.35%) + 0 to 1.25%
- Processing fee
- For Studies abroad- 1% Minimum Rs.10000/- (Refundable after 1stDisbursement)
- Effective
- Not stated
- Source
- PNB's page ↗ · fee page ↗
- Last verified
- 21 Oct 2026
8.35% for top-50 institutes or medical courses.
PNB Kaushal, vocational (up to ₹7.5 lakh)
9.85%
Only for vocational / skill coursesSkill course
- Girl students / women
- Female students 9.35%
- Benchmark
- RLLR + BSP + 1.50%
- Processing fee
- For PNB Kaushal - Nil
- Effective
- Not stated
- Source
- PNB's page ↗ · fee page ↗
- Last verified
- 21 Oct 2026
PNB Saraswati (study in India), up to ₹7.5 lakh without collateral (CGFSEL)
10.35%
IndiaWithout collateral
- Girl students / women
- Female students 9.85%
- Benchmark
- RLLR + BSP + 2.00%
- Processing fee
- For Studies in India- NIL
- Effective
- Not stated
- Source
- PNB's page ↗ · fee page ↗
- Last verified
- 21 Oct 2026
PNB Udaan (study abroad), up to ₹7.5 lakh without collateral (CGFSEL)
10.35%
AbroadWithout collateral
- Girl students / women
- Female students 9.85%
- Benchmark
- RLLR + BSP + 2.00%
- Processing fee
- For Studies abroad- 1% Minimum Rs.10000/- (Refundable after 1stDisbursement)
- Effective
- Not stated
- Source
- PNB'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 →
PNB education loan (study in India) rates
Verified on 21 October 2026 from PNB's site ↗
- Starting from
- 10.35% p.a.
- Published range
- Only the starting rate is published
- Processing fee
- PNB Saraswati (study in India), up to ₹7.5 lakh without collateral (CGFSEL): For Studies in India- NIL
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 PNB compares
PNB's education loan starting rate of 10.35% is the 14th lowest of 18 banks with a verified rate. The lowest is Bank of Maharashtra at 8.8%, and the median is 10%.
- PNB
- ₹13,410
- 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
10.35% p.a.
10.35% – 10.35% p.a.
PNB Saraswati (study in India), up to ₹7.5 lakh without collateral (CGFSEL): For Studies in India- NIL
Applicable Conditions & Eligibility Factors:
- The lowest rate open to all students the bank publishes (study in India); 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: PNB education loan rates (official)
Rates subject to borrower risk-grade & RBI regulatory changes.How It Works
- 1Choose a PNB 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.
- 3PNB'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
- •Where you study: PNB publishes separate rates for courses in India and abroad.
- •Collateral: PNB's rates differ with and without security.
- •PM-Vidyalaxmi: PNB has a separate rate for students at institutions covered by the scheme, set by the institution's tier.
- •Skill and vocational courses have their own scheme.
- •Girl students: PNB publishes a concession on some schemes (see the table).
- •Some PNB rates come with conditions (only for medical courses (MBBS / MD / MS / PG); only with collateral; only for top-50 institutes or medical courses; only for vocational / skill courses); they are tagged in the table, and the calculator starts on a rate open to all.
- •Some PNB rates are only for students at institutes on the bank's list or in its rating categories (PM-Vidyalaxmi (1,441 listed institutions); PNB Pratibha, premier institutes in India (above ₹7.5 lakh); PNB Udaan (study abroad), with 100% collateral); 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: PNB Education Loan EMI Calculator
For a ₹10,00,000 loan at the starting rate of 10.35% a year, with a 24-month course and a 12-month grace period, simple interest of ₹3,10,500 builds up before repayment starts, so ₹13,10,500 is repaid over 10 years (120 months). The EMI is ₹17,573, with total interest of ₹11,08,832. If you pay the interest while you study, the EMI is lower; the calculator above shows each option.
Frequently Asked Questions: PNB Education Loan EMI Calculator
- What is PNB's education loan (study in India) interest rate?
- PNB publishes education loan (study in India) rates starting from 10.35% 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: PNB Saraswati (study in India), up to ₹7.5 lakh without collateral (CGFSEL): For Studies in India- NIL
- Which PNB education loan schemes does this calculator cover?
- PM-Vidyalaxmi (1,441 listed institutions); PNB Pratibha, premier institutes in India (above ₹7.5 lakh); PNB Saraswati (study in India), with 100% collateral; PNB Udaan (study abroad), with 100% collateral; PNB Kaushal, vocational (up to ₹7.5 lakh); PNB Saraswati (study in India), up to ₹7.5 lakh without collateral (CGFSEL); PNB Udaan (study abroad), up to ₹7.5 lakh without collateral (CGFSEL). Each rate was read from PNB's own website; the table lists the source, effective date and date checked.
- How does PNB charge interest during the moratorium?
- The PNB 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 PNB's processing fee included in the EMI?
- No, a PNB loan EMI covers principal and interest only. PNB'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 PNB 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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