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Adjust the loan amount and interest sliders on the left, then click the Calculate button to check your EMI and subsidy eligibility.
What is an Education Loan Moratorium?
An education loan moratorium is a grace period given by the bank during which you do not have to make any monthly EMI payments.
This grace period usually covers your **entire course duration plus 6 months to 1 year** after graduation, so you have enough time to find a job before you start repaying.
**Important note:** Even though you do not pay EMIs during this time, the bank still calculates interest on your loan. This is called *Accumulated Moratorium Interest*. If you do not pay this interest off during your studies, the bank will add it to your total loan amount once EMIs begin, which raises your monthly payment.
Central Sector Interest Subsidy Scheme (CSIS)
To help poor and middle-class students, the Government of India runs the **Central Sector Interest Subsidy (CSIS)** scheme.
If you belong to the **OBC, SC, ST, EWS, or Minority** category and your family's annual income is **less than ₹4.5 Lakhs**, you qualify for this scheme.
- 100% Interest Paid by Government: The government will pay all of the interest that builds up on your student loan while you are in college.
- Only for Indian Universities: This scheme is only eligible if you are studying professional or technical courses in recognized colleges in India.
- No Extra Fee: Your bank tags your account automatically. You can check your eligibility or apply via the official PM-Vidyalaxmi portal.
Frequently Asked Questions
1. What is the moratorium period in an education loan?
The moratorium period is a grace period during which you do not have to pay EMIs. It typically covers your course duration plus 6 months or 1 year after graduation. However, interest continues to accumulate during this time unless you qualify for a government subsidy.
2. How does the CSIS Interest Subsidy Scheme work?
The Central Sector Interest Subsidy (CSIS) scheme pays 100% of the interest accumulated on your education loan during your college moratorium period. This is eligible for professional degree students in India with a family income of up to ₹4.5 Lakhs.
3. Can I get an education loan without collateral?
Yes, many private banks and NBFC partners offer collateral-free education loans of up to ₹40-75 Lakhs for top domestic and international institutions, based on the academic profile and co-signer income.
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