During the course
For unsecured loans, lenders look at whether the co-applicant can service interest during the moratorium — about ₹16,667 a month at 10%.
EMI table · worked out
₹20 lakh Education Loan EMI: Rates, Tenure and Interest
How much will a ₹20 lakh education loan cost each month? Here's the EMI at every common rate and tenure, the interest that builds up while you study, and the income lenders usually look for.
- 10 years at 10%: ₹26,430 a month
- Rates from 8.5% to 13.5%
- Moratorium interest explained
- Use our calculator for your exact case
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Quick answer
What is the EMI on a ₹20 lakh education loan?
At 10% a year, a ₹20 lakh education loan costs about ₹26,430 a month over 10 years (total interest ≈ ₹12 lakh). At 8.5% (a typical secured public-bank rate) the 10-year EMI is about ₹24,797; at 12.5% (a typical unsecured NBFC rate) about ₹29,275. If interest isn't paid during a 2-year course plus 6 months, about ₹5 lakh can be added before EMIs start.
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EMI table
Monthly EMI on ₹20 lakh
EMI starts after the moratorium. Figures assume the full amount is outstanding when EMIs begin.
Total cost
Total interest on ₹20 lakh
Moratorium
Interest that builds up while you study
2-year course + 6 months, 10% simple interest (how most banks charge during the moratorium).
Affordability
Income lenders usually expect
After graduation
Lenders like EMIs below about 40%–50% of take-home pay. A 10-year EMI of ₹26,430 suits a monthly take-home of roughly ₹58,146 or more.
Shorter tenure, less interest
Choosing 7 years instead of 10 at 10% saves about ₹3.8 lakh in interest.
Prepay freely
Floating-rate education loans to individuals can be prepaid without penalty under RBI rules.
FAQs
Frequently asked questions
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Ask a counsellor directly — we reply on WhatsApp during working hours (Mon–Sat, 9 AM–6 PM IST).
About ₹25,880 at 9.5%, ₹26,430 at 10% and ₹29,275 at 12.5%.
Often yes, from private banks and NBFCs for well-ranked universities with a strong co-applicant, and from international lenders for supported schools.
After the moratorium — usually the course length plus 6–12 months — or earlier if you start working and the lender's terms say so.
The interest part is deductible for up to 8 tax years under Section 129 of the Income-tax Act, 2025 (formerly Section 80E), under the old regime.
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