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Canara Bank ₹10 lakh Education Loan EMI for 15 Years
At the advertised starting rate of 7.5%, the EMI is about ₹9,270 a month, with total interest of about ₹6,68,622.
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) | ₹9,270 | ₹6,68,622 | ₹16,68,622 |
| 8% | ₹9,557 | ₹7,20,174 | ₹17,20,174 |
| 8.5% | ₹9,847 | ₹7,72,531 | ₹17,72,531 |
| 9% | ₹10,143 | ₹8,25,680 | ₹18,25,680 |
| 9.5% | ₹10,442 | ₹8,79,604 | ₹18,79,604 |
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 | ₹37,514 | ₹73,728 | ₹1,11,241 | ₹9,62,486 |
| Year 2 | ₹40,426 | ₹70,816 | ₹1,11,241 | ₹9,22,061 |
| Year 3 | ₹43,564 | ₹67,677 | ₹1,11,241 | ₹8,78,496 |
| Year 4 | ₹46,946 | ₹64,295 | ₹1,11,241 | ₹8,31,550 |
| Year 5 | ₹50,591 | ₹60,651 | ₹1,11,241 | ₹7,80,959 |
| Year 6 | ₹54,518 | ₹56,723 | ₹1,11,241 | ₹7,26,441 |
| Year 7 | ₹58,751 | ₹52,491 | ₹1,11,241 | ₹6,67,690 |
| Year 8 | ₹63,312 | ₹47,930 | ₹1,11,241 | ₹6,04,378 |
| Year 9 | ₹68,227 | ₹43,015 | ₹1,11,241 | ₹5,36,152 |
| Year 10 | ₹73,523 | ₹37,718 | ₹1,11,241 | ₹4,62,628 |
| Year 11 | ₹79,231 | ₹32,010 | ₹1,11,241 | ₹3,83,397 |
| Year 12 | ₹85,382 | ₹25,859 | ₹1,11,241 | ₹2,98,015 |
| Year 13 | ₹92,011 | ₹19,231 | ₹1,11,241 | ₹2,06,005 |
| Year 14 | ₹99,154 | ₹12,088 | ₹1,11,241 | ₹1,06,851 |
| Year 15 | ₹1,06,851 | ₹4,390 | ₹1,11,241 | ₹0 |
Frequently asked questions
What is the EMI for a ₹10 lakh Canara Bank education loan for 15 years?
At Canara Bank's starting rate of 7.5% the EMI is about ₹9,270 a month. If your offered rate is 8.5% it would be about ₹9,847.
How much total interest will I pay?
At 7.5% the total interest over 15 years is about ₹6,68,622, so you repay about ₹16,68,622 in all.