EMI Calculator

20 lakh education loan EMI calculator

By Anchal Katyal · Written on Jun 16, 2026 · Verified on Oct 1, 2026

EMI on ₹20 lakh at 9.5% for 10 years is about ₹ 25,880 a month, with ₹11.1 lakh in total interest. Change the rate, tenure or amount below, or add a prepayment to compare.

What you'll learn:

  • EMI across common rates and tenures
  • What to plan for at ₹20 lakh
  • Total repayment in a worked example
Education Loan
Education Loan
Currency
Principal you borrow: the starting balance before interest accrues.Learn more
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Annual rate charged on the outstanding balance. EMI uses rate ÷ 12 each month.Learn more
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Repayment period in months. Longer tenure lowers EMI but usually raises total interest.Learn more
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One-time charge as a % of the amount, usually paid upfront or cut from the payout. It does not change the EMI but adds to what you pay in total.Learn more
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Extra payments toward principal (lump-sum or monthly). Reduce tenure usually saves more interest. Reduce EMI if you need cash-flow relief.Learn more
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Shows what share of your monthly take-home pay goes to EMIs (FOIR). Banks usually cap all EMIs at 40% to 50% of net income.Learn more
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Monthly EMI-
Principal-
Total interest-
Total payment-
Interest share-
EMIs use - of take-home
Payment breakup
  • Principal
  • Interest

Amortization schedule
Starting from

Yearly principal vs interest

  • Principal
  • Interest
#DateEMIPrincipalInterestBalance

Lowest education loan rates from Indian lenders

Your EMI at each lender for ₹ 20 Lakhs over 10 yrs, at the low and high ends of its public rate band. The low end goes to the strongest profiles; your sanction letter sets your rate.

LenderRate bandEMI fromEMI up toLender's page
PNB7.1% onwards₹ 23,325–Get offer: PNB (opens in a new tab)
Bank of Baroda7.1% to 10.15%₹ 23,325₹ 26,597Get offer: Bank of Baroda (opens in a new tab)
Canara Bank7.25% to 10.1%₹ 23,480₹ 26,541Get offer: Canara Bank (opens in a new tab)
ICICI8.5% to 13%₹ 24,797₹ 29,862Get offer: ICICI (opens in a new tab)
SBI9.4% to 9.9%₹ 25,770₹ 26,320Get offer: SBI (opens in a new tab)
HDFC10.5% onwards₹ 26,987–Get offer: HDFC (opens in a new tab)
Kotak11% to 16%₹ 27,550₹ 33,503Get offer: Kotak (opens in a new tab)
Axis13.7% to 15.2%₹ 30,694₹ 32,512Get offer: Axis (opens in a new tab)

Ordered by lowest advertised rate. Bands checked against each lender's public rate card between 10 Oct 2026 and 11 Oct 2026; they are not live quotes. We are not a lender and do not collect your details: "Get offer" opens the lender's own site. Fees, repo-hike status and public vs private averages are on the education loan interest rates page.

Planning a ₹20 lakh education loan EMI

₹20 lakh education loan EMI is about ₹ 25,880 at 9.5% for 10 years, with total interest roughly ₹11.1 lakh if you never prepay and the rate does not change. A ₹20 lakh education loan covers a larger domestic programme or part of a course abroad.

Interest usually builds up during the course. Over a 2-year course and a 1-year grace period, that is about ₹5.7 lakh, which raises the EMI to ₹33,255 if it is added to the loan.

EMI at common rates for ₹ 20,00,000

Monthly reducing-balance EMI if the rate stays constant. Highlighted cells are nearest to 9.5% for 10 years.

Rate5 yr7 yr8 yr10 yr12 yr15 yr
8.5%₹ 41,033₹ 31,673₹ 28,784₹ 24,797₹ 22,201₹ 19,695
9%₹ 41,517₹ 32,178₹ 29,300₹ 25,335₹ 22,761₹ 20,285
9.5%₹ 42,004₹ 32,688₹ 29,822₹ 25,880₹ 23,327₹ 20,884
10%₹ 42,494₹ 33,202₹ 30,348₹ 26,430₹ 23,902₹ 21,492
10.5%₹ 42,988₹ 33,721₹ 30,880₹ 26,987₹ 24,483₹ 22,108
11.5%₹ 43,985₹ 34,773₹ 31,959₹ 28,119₹ 25,666₹ 23,364

Figures exclude processing fees, insurance, and floating-rate resets. Use the calculator above for your exact quote, then stress rate +1%. See also the education loan EMI calculator, prepayment, and eligibility tools.

Key takeaways

  • Paying the interest while you study, about ₹15,833 a month, keeps the EMI at ₹25,880 once repayment starts.
  • Repaying in 7 years instead of 10 raises the EMI to ₹32,688 but saves about ₹3.6 lakh in interest.
  • To keep this EMI under a third of take-home pay, you would need about ₹77,639 a month after the course.
  • Living costs and travel added to the loan raise the amount you repay, so borrow only what the course needs.

Worked example: ₹ 20,00,000 at 9.5% for 10 years

₹ 20,00,000 education loan EMI ≈ ₹ 25,880. Over 120 months you would pay about ₹ 31,05,541 in total, of which roughly ₹ 11,05,541 is interest if you make no prepayments and the rate stays constant. Raise the rate by 1%, or add a lump sum under Prepayments, to see how much the total interest changes.

Formula: This tool models the repayment phase with the standard reducing-balance EMI formula. Moratorium interest capitalization and course-period rules vary by lender and scheme.

Figures are estimates for education and planning and may differ from your lender’s schedule due to fees, floating rates, or product rules.

Last updated on Jul 28, 2026.