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State Bank of India ₹10 lakh Education Loan EMI for 15 Years
At the advertised starting rate of 7%, the EMI is about ₹8,988 a month, with total interest of about ₹6,17,891.
Source: State Bank of India 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% (starting) | ₹8,988 | ₹6,17,891 | ₹16,17,891 |
| 7.5% | ₹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 |
Year-by-year repayment schedule at 7%
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 | ₹39,098 | ₹68,761 | ₹1,07,859 | ₹9,60,902 |
| Year 2 | ₹41,924 | ₹65,935 | ₹1,07,859 | ₹9,18,978 |
| Year 3 | ₹44,955 | ₹62,904 | ₹1,07,859 | ₹8,74,023 |
| Year 4 | ₹48,205 | ₹59,654 | ₹1,07,859 | ₹8,25,818 |
| Year 5 | ₹51,690 | ₹56,170 | ₹1,07,859 | ₹7,74,128 |
| Year 6 | ₹55,426 | ₹52,433 | ₹1,07,859 | ₹7,18,702 |
| Year 7 | ₹59,433 | ₹48,426 | ₹1,07,859 | ₹6,59,269 |
| Year 8 | ₹63,729 | ₹44,130 | ₹1,07,859 | ₹5,95,539 |
| Year 9 | ₹68,336 | ₹39,523 | ₹1,07,859 | ₹5,27,203 |
| Year 10 | ₹73,277 | ₹34,583 | ₹1,07,859 | ₹4,53,926 |
| Year 11 | ₹78,574 | ₹29,286 | ₹1,07,859 | ₹3,75,352 |
| Year 12 | ₹84,254 | ₹23,606 | ₹1,07,859 | ₹2,91,099 |
| Year 13 | ₹90,345 | ₹17,515 | ₹1,07,859 | ₹2,00,754 |
| Year 14 | ₹96,876 | ₹10,984 | ₹1,07,859 | ₹1,03,879 |
| Year 15 | ₹1,03,879 | ₹3,981 | ₹1,07,859 | ₹0 |
Frequently asked questions
What is the EMI for a ₹10 lakh State Bank of India education loan for 15 years?
At State Bank of India's starting rate of 7% the EMI is about ₹8,988 a month. If your offered rate is 8% it would be about ₹9,557.
How much total interest will I pay?
At 7% the total interest over 15 years is about ₹6,17,891, so you repay about ₹16,17,891 in all.