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Bank of Maharashtra ₹30 lakh Education Loan EMI for 15 Years
At the advertised starting rate of 7.1%, the EMI is about ₹27,133 a month, with total interest of about ₹18,83,913.
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) | ₹27,133 | ₹18,83,913 | ₹48,83,913 |
| 7.6% | ₹27,981 | ₹20,36,602 | ₹50,36,602 |
| 8.1% | ₹28,843 | ₹21,91,744 | ₹51,91,744 |
| 8.6% | ₹29,718 | ₹23,49,294 | ₹53,49,294 |
| 9.1% | ₹30,607 | ₹25,09,210 | ₹55,09,210 |
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 | ₹1,16,331 | ₹2,09,263 | ₹3,25,594 | ₹28,83,669 |
| Year 2 | ₹1,24,865 | ₹2,00,729 | ₹3,25,594 | ₹27,58,803 |
| Year 3 | ₹1,34,025 | ₹1,91,569 | ₹3,25,594 | ₹26,24,779 |
| Year 4 | ₹1,43,856 | ₹1,81,738 | ₹3,25,594 | ₹24,80,922 |
| Year 5 | ₹1,54,409 | ₹1,71,185 | ₹3,25,594 | ₹23,26,513 |
| Year 6 | ₹1,65,736 | ₹1,59,858 | ₹3,25,594 | ₹21,60,777 |
| Year 7 | ₹1,77,894 | ₹1,47,700 | ₹3,25,594 | ₹19,82,883 |
| Year 8 | ₹1,90,944 | ₹1,34,650 | ₹3,25,594 | ₹17,91,939 |
| Year 9 | ₹2,04,951 | ₹1,20,643 | ₹3,25,594 | ₹15,86,989 |
| Year 10 | ₹2,19,985 | ₹1,05,609 | ₹3,25,594 | ₹13,67,003 |
| Year 11 | ₹2,36,123 | ₹89,472 | ₹3,25,594 | ₹11,30,881 |
| Year 12 | ₹2,53,444 | ₹72,150 | ₹3,25,594 | ₹8,77,437 |
| Year 13 | ₹2,72,035 | ₹53,559 | ₹3,25,594 | ₹6,05,402 |
| Year 14 | ₹2,91,991 | ₹33,603 | ₹3,25,594 | ₹3,13,411 |
| Year 15 | ₹3,13,411 | ₹12,184 | ₹3,25,594 | ₹0 |
Frequently asked questions
What is the EMI for a ₹30 lakh Bank of Maharashtra education loan for 15 years?
At Bank of Maharashtra's starting rate of 7.1% the EMI is about ₹27,133 a month. If your offered rate is 8.1% it would be about ₹28,843.
How much total interest will I pay?
At 7.1% the total interest over 15 years is about ₹18,83,913, so you repay about ₹48,83,913 in all.