Student Corner

Loan & Interest Subsidy Calculator

Estimate your loan repayment, moratorium interest, and the net effective interest rate subsidised by the Government of Jharkhand under the GSCC Scheme.

Current SBI EBLR Rate: 9.15% Govt. Subsidised Scheme

Loan Parameters

Required Loan Amount (₹) ₹ 5,00,000

Course Duration (Years) 4 Years

Student Gender (Interest Rate Standard)

Male (EBLR 9.15% + 1.5%)

Female (EBLR 9.15% + 1.1%)

Interest Payment Option During Study Period

No Interest Paid During Study (Net Interest Rate = 4.0% per annum simple)

Pay Interest Monthly During Study (Net Interest Rate = 3.0% per annum simple)

Estimated Monthly EMI (15-Yr Repayment)

₹ 4,290 / mo

Effective Rate to Student 4.0 % Subsidised Rate

Govt. Interest Subsidy Cover ~ 6.65 % Borne by State Govt.

Principal Amount: ₹ 5,00,000
Total Simple Interest During Moratorium: ₹ 80,000
Estimated Total Payable Amount: ₹ 5,80,000

Note: Under the GSCC Scheme, the Government of Jharkhand provides full credit guarantee to MLI Banks up to ₹15 Lakhs without requiring collateral or co-applicant income proof. Repayment starts 1 year after completion of course or 6 months after securing employment, whichever is earlier.

Guruji Student Credit Card Scheme

Loan & Interest Subsidy Calculator

Loan Parameters