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Bank of Maharashtra ₹30 lakh Education Loan EMI for 7 Years
At the advertised starting rate of 7.1%, the EMI is about ₹45,425 a month, with total interest of about ₹8,15,686.
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) | ₹45,425 | ₹8,15,686 | ₹38,15,686 |
| 7.6% | ₹46,163 | ₹8,77,694 | ₹38,77,694 |
| 8.1% | ₹46,908 | ₹9,40,293 | ₹39,40,293 |
| 8.6% | ₹47,660 | ₹10,03,478 | ₹40,03,478 |
| 9.1% | ₹48,420 | ₹10,67,248 | ₹40,67,248 |
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 | ₹3,43,121 | ₹2,01,977 | ₹5,45,098 | ₹26,56,879 |
| Year 2 | ₹3,68,291 | ₹1,76,807 | ₹5,45,098 | ₹22,88,588 |
| Year 3 | ₹3,95,308 | ₹1,49,790 | ₹5,45,098 | ₹18,93,280 |
| Year 4 | ₹4,24,306 | ₹1,20,792 | ₹5,45,098 | ₹14,68,974 |
| Year 5 | ₹4,55,432 | ₹89,666 | ₹5,45,098 | ₹10,13,542 |
| Year 6 | ₹4,88,841 | ₹56,257 | ₹5,45,098 | ₹5,24,701 |
| Year 7 | ₹5,24,701 | ₹20,397 | ₹5,45,098 | ₹0 |
Frequently asked questions
What is the EMI for a ₹30 lakh Bank of Maharashtra education loan for 7 years?
At Bank of Maharashtra's starting rate of 7.1% the EMI is about ₹45,425 a month. If your offered rate is 8.1% it would be about ₹46,908.
How much total interest will I pay?
At 7.1% the total interest over 7 years is about ₹8,15,686, so you repay about ₹38,15,686 in all.