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ICICI Bank ₹20 lakh Education Loan EMI for 7 Years
At the advertised starting rate of 8.5%, the EMI is about ₹31,673 a month, with total interest of about ₹6,60,530.
Source: ICICI Bank official page, checked on November 2026 (2026-11-01).
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 |
|---|---|---|---|
| 8.5% (starting) | ₹31,673 | ₹6,60,530 | ₹26,60,530 |
| 9% | ₹32,178 | ₹7,02,965 | ₹27,02,965 |
| 9.5% | ₹32,688 | ₹7,45,789 | ₹27,45,789 |
| 10% | ₹33,202 | ₹7,88,999 | ₹27,88,999 |
| 10.5% | ₹33,721 | ₹8,32,593 | ₹28,32,593 |
Year-by-year repayment schedule at 8.5%
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 | ₹2,18,456 | ₹1,61,619 | ₹3,80,076 | ₹17,81,544 |
| Year 2 | ₹2,37,766 | ₹1,42,310 | ₹3,80,076 | ₹15,43,778 |
| Year 3 | ₹2,58,782 | ₹1,21,294 | ₹3,80,076 | ₹12,84,996 |
| Year 4 | ₹2,81,656 | ₹98,420 | ₹3,80,076 | ₹10,03,340 |
| Year 5 | ₹3,06,552 | ₹73,524 | ₹3,80,076 | ₹6,96,788 |
| Year 6 | ₹3,33,648 | ₹46,427 | ₹3,80,076 | ₹3,63,140 |
| Year 7 | ₹3,63,140 | ₹16,936 | ₹3,80,076 | ₹0 |
Frequently asked questions
What is the EMI for a ₹20 lakh ICICI Bank education loan for 7 years?
At ICICI Bank's starting rate of 8.5% the EMI is about ₹31,673 a month. If your offered rate is 9.5% it would be about ₹32,688.
How much total interest will I pay?
At 8.5% the total interest over 7 years is about ₹6,60,530, so you repay about ₹26,60,530 in all.