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State Bank of India ₹20 lakh Education Loan EMI for 15 Years
At the advertised starting rate of 7%, the EMI is about ₹17,977 a month, with total interest of about ₹12,35,782.
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) | ₹17,977 | ₹12,35,782 | ₹32,35,782 |
| 7.5% | ₹18,540 | ₹13,37,244 | ₹33,37,244 |
| 8% | ₹19,113 | ₹14,40,348 | ₹34,40,348 |
| 8.5% | ₹19,695 | ₹15,45,062 | ₹35,45,062 |
| 9% | ₹20,285 | ₹16,51,360 | ₹36,51,360 |
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 | ₹78,196 | ₹1,37,523 | ₹2,15,719 | ₹19,21,804 |
| Year 2 | ₹83,849 | ₹1,31,870 | ₹2,15,719 | ₹18,37,955 |
| Year 3 | ₹89,910 | ₹1,25,809 | ₹2,15,719 | ₹17,48,045 |
| Year 4 | ₹96,410 | ₹1,19,309 | ₹2,15,719 | ₹16,51,635 |
| Year 5 | ₹1,03,379 | ₹1,12,340 | ₹2,15,719 | ₹15,48,256 |
| Year 6 | ₹1,10,853 | ₹1,04,866 | ₹2,15,719 | ₹14,37,403 |
| Year 7 | ₹1,18,866 | ₹96,853 | ₹2,15,719 | ₹13,18,537 |
| Year 8 | ₹1,27,459 | ₹88,260 | ₹2,15,719 | ₹11,91,078 |
| Year 9 | ₹1,36,673 | ₹79,046 | ₹2,15,719 | ₹10,54,405 |
| Year 10 | ₹1,46,553 | ₹69,166 | ₹2,15,719 | ₹9,07,852 |
| Year 11 | ₹1,57,147 | ₹58,571 | ₹2,15,719 | ₹7,50,705 |
| Year 12 | ₹1,68,508 | ₹47,211 | ₹2,15,719 | ₹5,82,197 |
| Year 13 | ₹1,80,689 | ₹35,030 | ₹2,15,719 | ₹4,01,508 |
| Year 14 | ₹1,93,751 | ₹21,968 | ₹2,15,719 | ₹2,07,757 |
| Year 15 | ₹2,07,757 | ₹7,961 | ₹2,15,719 | ₹0 |
Frequently asked questions
What is the EMI for a ₹20 lakh State Bank of India education loan for 15 years?
At State Bank of India's starting rate of 7% the EMI is about ₹17,977 a month. If your offered rate is 8% it would be about ₹19,113.
How much total interest will I pay?
At 7% the total interest over 15 years is about ₹12,35,782, so you repay about ₹32,35,782 in all.