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Canara Bank ₹10 lakh Education Loan EMI for 10 Years
At the advertised starting rate of 7.5%, the EMI is about ₹11,870 a month, with total interest of about ₹4,24,421.
Source: Canara Bank 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 |
|---|---|---|---|
| 7.5% (starting) | ₹11,870 | ₹4,24,421 | ₹14,24,421 |
| 8% | ₹12,133 | ₹4,55,931 | ₹14,55,931 |
| 8.5% | ₹12,399 | ₹4,87,828 | ₹14,87,828 |
| 9% | ₹12,668 | ₹5,20,109 | ₹15,20,109 |
| 9.5% | ₹12,940 | ₹5,52,771 | ₹15,52,771 |
Year-by-year repayment schedule at 7.5%
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 | ₹69,809 | ₹72,633 | ₹1,42,442 | ₹9,30,191 |
| Year 2 | ₹75,229 | ₹67,213 | ₹1,42,442 | ₹8,54,962 |
| Year 3 | ₹81,069 | ₹61,373 | ₹1,42,442 | ₹7,73,893 |
| Year 4 | ₹87,363 | ₹55,079 | ₹1,42,442 | ₹6,86,530 |
| Year 5 | ₹94,145 | ₹48,297 | ₹1,42,442 | ₹5,92,385 |
| Year 6 | ₹1,01,454 | ₹40,988 | ₹1,42,442 | ₹4,90,931 |
| Year 7 | ₹1,09,330 | ₹33,112 | ₹1,42,442 | ₹3,81,601 |
| Year 8 | ₹1,17,817 | ₹24,625 | ₹1,42,442 | ₹2,63,784 |
| Year 9 | ₹1,26,964 | ₹15,478 | ₹1,42,442 | ₹1,36,820 |
| Year 10 | ₹1,36,820 | ₹5,622 | ₹1,42,442 | ₹0 |
Frequently asked questions
What is the EMI for a ₹10 lakh Canara Bank education loan for 10 years?
At Canara Bank's starting rate of 7.5% the EMI is about ₹11,870 a month. If your offered rate is 8.5% it would be about ₹12,399.
How much total interest will I pay?
At 7.5% the total interest over 10 years is about ₹4,24,421, so you repay about ₹14,24,421 in all.