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Indian Bank ₹20 lakh Education Loan EMI for 15 Years
At the advertised starting rate of 7.3%, the EMI is about ₹18,314 a month, with total interest of about ₹12,96,461.
Source: Indian 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 |
|---|---|---|---|
| 7.3% (starting) | ₹18,314 | ₹12,96,461 | ₹32,96,461 |
| 7.8% | ₹18,883 | ₹13,98,911 | ₹33,98,911 |
| 8.3% | ₹19,461 | ₹15,02,985 | ₹35,02,985 |
| 8.8% | ₹20,048 | ₹16,08,653 | ₹36,08,653 |
| 9.3% | ₹20,644 | ₹17,15,885 | ₹37,15,885 |
Year-by-year repayment schedule at 7.3%
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 | ₹76,283 | ₹1,43,481 | ₹2,19,764 | ₹19,23,717 |
| Year 2 | ₹82,042 | ₹1,37,722 | ₹2,19,764 | ₹18,41,676 |
| Year 3 | ₹88,235 | ₹1,31,529 | ₹2,19,764 | ₹17,53,440 |
| Year 4 | ₹94,896 | ₹1,24,868 | ₹2,19,764 | ₹16,58,544 |
| Year 5 | ₹1,02,060 | ₹1,17,704 | ₹2,19,764 | ₹15,56,484 |
| Year 6 | ₹1,09,765 | ₹1,09,999 | ₹2,19,764 | ₹14,46,719 |
| Year 7 | ₹1,18,052 | ₹1,01,713 | ₹2,19,764 | ₹13,28,667 |
| Year 8 | ₹1,26,964 | ₹92,801 | ₹2,19,764 | ₹12,01,704 |
| Year 9 | ₹1,36,548 | ₹83,216 | ₹2,19,764 | ₹10,65,155 |
| Year 10 | ₹1,46,857 | ₹72,907 | ₹2,19,764 | ₹9,18,299 |
| Year 11 | ₹1,57,943 | ₹61,821 | ₹2,19,764 | ₹7,60,355 |
| Year 12 | ₹1,69,867 | ₹49,897 | ₹2,19,764 | ₹5,90,488 |
| Year 13 | ₹1,82,691 | ₹37,073 | ₹2,19,764 | ₹4,07,798 |
| Year 14 | ₹1,96,482 | ₹23,282 | ₹2,19,764 | ₹2,11,315 |
| Year 15 | ₹2,11,315 | ₹8,449 | ₹2,19,764 | ₹0 |
Frequently asked questions
What is the EMI for a ₹20 lakh Indian Bank education loan for 15 years?
At Indian Bank's starting rate of 7.3% the EMI is about ₹18,314 a month. If your offered rate is 8.3% it would be about ₹19,461.
How much total interest will I pay?
At 7.3% the total interest over 15 years is about ₹12,96,461, so you repay about ₹32,96,461 in all.