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Bank of Maharashtra Education Loan Interest Rate November 2026
Bank of Maharashtra advertises education loan rates starting from 7.1% per annum. For ₹20 lakh over 10 years that is an EMI of about ₹23,325 a month.
Bank of Maharashtra education loan rates and charges
| Starting interest rate | 7.1% per annum |
| Applies to | AAA institutions under PM Vidyalaxmi; other loans above ₹7.5 lakh 9.95%, up to ₹7.5 lakh 10.30% |
| Processing fee | Not stated on the page we checked |
| Prepayment | Not stated on the page we checked |
| Maximum tenure | Not stated on the page we checked |
Source: Bank of Maharashtra official page, checked 2 November 2026.
These figures use the bank's advertised starting rate. Most borrowers are offered a higher rate depending on credit score, income and loan size, so treat the result as a best case.
Bank of Maharashtra education loan EMI calculator
Prepayment options (optional): pay extra to finish sooner
EMI for popular amounts
₹10 lakh for 7 years₹10 lakh for 10 years₹10 lakh for 15 years₹20 lakh for 7 years₹20 lakh for 10 years₹20 lakh for 15 years₹30 lakh for 7 years₹30 lakh for 10 years₹30 lakh for 15 years
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Frequently asked questions
What is the Bank of Maharashtra education loan interest rate?
Bank of Maharashtra's website advertises education loan rates starting from 7.1% per annum (checked 2026-11-02). The rate you get depends on your credit score, income and loan amount.
What is the EMI on a ₹20 lakh education loan from Bank of Maharashtra?
At the starting rate of 7.1% over 10 years the EMI is about ₹23,325 a month, with total interest of about ₹7,98,989. A higher personal rate would raise this.
What is the processing fee for a Bank of Maharashtra education loan?
The Bank of Maharashtra page we checked did not state a processing fee. Please confirm it with the bank's fee schedule before applying.
Does Bank of Maharashtra charge prepayment charges on a education loan?
The page we checked did not state prepayment terms. Please confirm with the bank.