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Bank of Maharashtra ₹20 lakh Education Loan EMI for 7 Years
At the advertised starting rate of 7.1%, the EMI is about ₹30,283 a month, with total interest of about ₹5,43,791.
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.
Prepayment options (optional): pay extra to finish sooner
EMI at higher rates
| Rate | EMI | Total interest | Total payment |
|---|---|---|---|
| 7.1% (starting) | ₹30,283 | ₹5,43,791 | ₹25,43,791 |
| 7.6% | ₹30,775 | ₹5,85,130 | ₹25,85,130 |
| 8.1% | ₹31,272 | ₹6,26,862 | ₹26,26,862 |
| 8.6% | ₹31,774 | ₹6,68,986 | ₹26,68,986 |
| 9.1% | ₹32,280 | ₹7,11,499 | ₹27,11,499 |
Year-by-year repayment schedule at 7.1%
How much of each year's payments goes to principal and to interest, and what you still owe at the end of the year. Use the calculator above for a month-by-month view and prepayment options.
| Year | Principal | Interest | Paid | Balance left |
|---|---|---|---|---|
| Year 1 | ₹2,28,747 | ₹1,34,651 | ₹3,63,399 | ₹17,71,253 |
| Year 2 | ₹2,45,527 | ₹1,17,871 | ₹3,63,399 | ₹15,25,725 |
| Year 3 | ₹2,63,539 | ₹99,860 | ₹3,63,399 | ₹12,62,187 |
| Year 4 | ₹2,82,871 | ₹80,528 | ₹3,63,399 | ₹9,79,316 |
| Year 5 | ₹3,03,621 | ₹59,777 | ₹3,63,399 | ₹6,75,694 |
| Year 6 | ₹3,25,894 | ₹37,505 | ₹3,63,399 | ₹3,49,800 |
| Year 7 | ₹3,49,800 | ₹13,598 | ₹3,63,399 | ₹0 |
Frequently asked questions
What is the EMI for a ₹20 lakh Bank of Maharashtra education loan for 7 years?
At Bank of Maharashtra's starting rate of 7.1% the EMI is about ₹30,283 a month. If your offered rate is 8.1% it would be about ₹31,272.
How much total interest will I pay?
At 7.1% the total interest over 7 years is about ₹5,43,791, so you repay about ₹25,43,791 in all.