How it works
The loan is treated in two phases. Through the moratorium — the course plus a grace period — nothing is repaid, but interest accrues monthly on the balance. Unless you service it, that interest is added to the principal, and repayment then begins on the larger figure.
This is why the instalment matters more than the sanctioned amount. On ₹20 lakh at 10% with a four-year moratorium, the balance at repayment start is ₹29,78,708 — the EMI is computed on that, not on ₹20 lakh, and it is nearly 50% higher than a naive calculation would suggest.
More detail
The calculator also prices the alternative. Servicing interest as it accrues costs money during the course, when a student typically has none, but it stops the debt compounding on itself. The difference over the loan's life is reported explicitly so the choice can be made deliberately.
The whole loan is assumed disbursed on day one. Real disbursement is tranche-wise per semester, which means less interest accrues than shown here — so treat these figures as the conservative end of the range.
To see what repaying early would save, use the prepayment calculator.
If another lender offers a lower rate, see the balance transfer calculator.
To fund a course without borrowing at all, try the goal SIP calculator.