Check minimum income required for a ₹10 Lakh education loan. EMI starts ₹15,561/month. Compare 20+ banks.
To get a ₹10 Lakh education loan, you need a minimum monthly income of approximately ₹31,122 (at the lowest rate of 7.95% for 7 years, assuming no existing EMIs).
| Bank | Rate | Monthly EMI | Min Income Required | Processing Fee |
|---|---|---|---|---|
| Bank of Baroda | 7.95 - 10.45% | ₹15,561 | ₹29,925/mo | Nil |
| Canara Bank | 8.00 - 10.75% | ₹15,586 | ₹29,974/mo | Nil |
| Indian Bank | 8.00 - 10.30% | ₹15,586 | ₹29,974/mo | Nil |
| Union Bank | 8.05 - 10.60% | ₹15,611 | ₹30,022/mo | Nil |
| PNB | 8.10 - 10.90% | ₹15,636 | ₹30,070/mo | Nil |
| Bank of India | 8.10 - 10.85% | ₹15,636 | ₹30,070/mo | Nil |
| SBI | 8.15 - 10.70% | ₹15,661 | ₹30,118/mo | Nil |
| Central Bank | 8.15 - 10.65% | ₹15,661 | ₹30,118/mo | Nil |
| IDBI Bank | 8.25 - 11.25% | ₹15,711 | ₹30,214/mo | Nil |
| HDFC Bank | 9.00 - 13.68% | ₹16,089 | ₹32,178/mo | Up to 1.50% + GST |
| South Indian Bank | 9.15 - 12.00% | ₹16,165 | ₹32,330/mo | Nil |
| ICICI Bank | 9.25 - 13.00% | ₹16,216 | ₹32,432/mo | 1% + GST |
| Karur Vysya Bank | 9.50 - 12.50% | ₹16,344 | ₹32,688/mo | Nil |
| Axis Bank | 9.70 - 13.70% | ₹16,447 | ₹32,894/mo | Nil |
| Federal Bank | 9.85 - 12.50% | ₹16,524 | ₹33,048/mo | 0.50% + GST |
| Kotak Mahindra Bank | 10.00 - 16.00% | ₹16,601 | ₹33,202/mo | Up to 2% + GST |
| Yes Bank | 10.00 - 15.00% | ₹16,601 | ₹33,202/mo | 1% + GST |
| IDFC First Bank | 10.50 - 14.00% | ₹16,861 | ₹33,722/mo | 1% + GST |
| IndusInd Bank | 11.50 - 14.50% | ₹17,386 | ₹34,772/mo | 1% + GST |
| Bandhan Bank | 12.00 - 15.00% | ₹17,653 | ₹35,306/mo | 1% + GST |
The EMI for ₹10 Lakh education loan at 7.95% for 7 years is approximately ₹15,561 per month.
You need a minimum monthly income of approximately ₹31,122 for a ₹10 Lakh education loan at 7.95% interest rate (assuming no existing EMIs and 50% FOIR).
The lowest interest rate for ₹10 Lakh education loan starts from 7.95% p.a. in 2026. Compare all banks above.
With a ₹30,000 monthly salary and no existing EMIs, your maximum education loan eligibility at 7.95% for 7 years is approximately ₹9.64 L.
The total interest on ₹10 Lakh education loan at 7.95% for 7 years is approximately ₹3.07 L.