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State Bank of India ₹20 lakh Education Loan EMI for 7 Years
At the advertised starting rate of 7%, the EMI is about ₹30,185 a month, with total interest of about ₹5,35,570.
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) | ₹30,185 | ₹5,35,570 | ₹25,35,570 |
| 7.5% | ₹30,677 | ₹5,76,830 | ₹25,76,830 |
| 8% | ₹31,172 | ₹6,18,484 | ₹26,18,484 |
| 8.5% | ₹31,673 | ₹6,60,530 | ₹26,60,530 |
| 9% | ₹32,178 | ₹7,02,965 | ₹27,02,965 |
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 | ₹2,29,494 | ₹1,32,730 | ₹3,62,224 | ₹17,70,506 |
| Year 2 | ₹2,46,085 | ₹1,16,140 | ₹3,62,224 | ₹15,24,421 |
| Year 3 | ₹2,63,874 | ₹98,350 | ₹3,62,224 | ₹12,60,547 |
| Year 4 | ₹2,82,950 | ₹79,275 | ₹3,62,224 | ₹9,77,597 |
| Year 5 | ₹3,03,404 | ₹58,820 | ₹3,62,224 | ₹6,74,193 |
| Year 6 | ₹3,25,337 | ₹36,887 | ₹3,62,224 | ₹3,48,856 |
| Year 7 | ₹3,48,856 | ₹13,368 | ₹3,62,224 | ₹0 |
Frequently asked questions
What is the EMI for a ₹20 lakh State Bank of India education loan for 7 years?
At State Bank of India's starting rate of 7% the EMI is about ₹30,185 a month. If your offered rate is 8% it would be about ₹31,172.
How much total interest will I pay?
At 7% the total interest over 7 years is about ₹5,35,570, so you repay about ₹25,35,570 in all.