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State Bank of India ₹10 lakh Education Loan EMI for 7 Years
At the advertised starting rate of 7%, the EMI is about ₹15,093 a month, with total interest of about ₹2,67,785.
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) | ₹15,093 | ₹2,67,785 | ₹12,67,785 |
| 7.5% | ₹15,338 | ₹2,88,415 | ₹12,88,415 |
| 8% | ₹15,586 | ₹3,09,242 | ₹13,09,242 |
| 8.5% | ₹15,836 | ₹3,30,265 | ₹13,30,265 |
| 9% | ₹16,089 | ₹3,51,483 | ₹13,51,483 |
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 | ₹1,14,747 | ₹66,365 | ₹1,81,112 | ₹8,85,253 |
| Year 2 | ₹1,23,042 | ₹58,070 | ₹1,81,112 | ₹7,62,210 |
| Year 3 | ₹1,31,937 | ₹49,175 | ₹1,81,112 | ₹6,30,273 |
| Year 4 | ₹1,41,475 | ₹39,637 | ₹1,81,112 | ₹4,88,799 |
| Year 5 | ₹1,51,702 | ₹29,410 | ₹1,81,112 | ₹3,37,097 |
| Year 6 | ₹1,62,669 | ₹18,444 | ₹1,81,112 | ₹1,74,428 |
| Year 7 | ₹1,74,428 | ₹6,684 | ₹1,81,112 | ₹0 |
Frequently asked questions
What is the EMI for a ₹10 lakh State Bank of India education loan for 7 years?
At State Bank of India's starting rate of 7% the EMI is about ₹15,093 a month. If your offered rate is 8% it would be about ₹15,586.
How much total interest will I pay?
At 7% the total interest over 7 years is about ₹2,67,785, so you repay about ₹12,67,785 in all.