Education Loan Tax 80E Rebate Calculator

The easiest and the quickest way to calculate your education loan income tax benefits as per the latest budget.

Rate of interest for the loan (in %)
Will you be paying anything during the moratorium period (course duration plus the grace period)?
PSI
Maximum Possible PSI: 0
Grace Period: How many months after your course you will start paying EMI?
After the grace period, in how many years you will repay the education loan?
Net Taxable income of the applicant or co-applicant after deduction of all other exemptions except 80E

Results

Amount you save: ₹0

The amount you save if you opt for the 80(E) tax benefits when repaying for years

Effective ROI: 0 %

This will be the actual rate of interest you will be paying on your loan instead of 8.5%

Know which all lenders provide the 80E tax benefits.

WeMakeScholars is an organisation funded and supported by the Govt of India for free and genuine advice on education loans.

As the per income tax act, the section 80E benefit cannot be claimed for more than 8 yrs, hence for the calculations, we are calculating the benefit for the max tenure as 8 yrs.
Your taxable income may increase or decrease over years, but in this calculator the taxable income added by you is assumed to be the same for the entire tenure of the loan. Increase in taxable income will increase your money savings and vice versa.
Tax slabs considered are as per new budget, for under 60 yrs age individuals, as below:

Income slab	Tax
Upto 2.5 lacs	Nil
2.5 to 5 lacs	5% of (Total income minus Rs 2,50,000) + 4% cess
5 to 10 lacs	Rs 12,500 + 20% of (Total income minus Rs 5,00,000) + 4% cess
Above 10 lacs	Rs 1,12,500 + 30% of (Total income minus Rs 10,00,000) + 4% cess

Your average interest portion per year on your Education Loan: 0

Your tax to be paid without exemption: 0

Your tax to be paid after exemption: : 0