Central Bank of India Education Loan EMI Calculator
Pick one of the 6 Central Bank of India education loan schemes we read from the bank's own website, or type the rate you are offered. Add the course length and grace period to see the interest that builds up before EMIs start.
Official Rate Formula & Benchmark:
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is what you owe when the moratorium ends and r is the monthly rate.
Current official starting rate: 9.75% p.a. (Range: 9.75% – 9.75% p.a.). Read from Central Bank of India's own website; your rate depends on your profile.
Borrowing ₹10,00,000 at 9.75% with a moratorium of 3 years, ₹2,92,500 of interest is added to the loan before EMIs start. You then owe ₹12,92,500, an EMI of ₹16,902 for 10 years, and ₹10,28,251 in total interest.
Picking a lender fills in its lowest published figure for that scheme. Your rate depends on your profile, course or vehicle, and can be higher. Compare all education loan rates
Central Bank of India · Public sector bank
Cent Vidyarthi, up to ₹7.5 lakh (NCGTC guarantee, no collateral)
9.75%
Concession for girl students / women: 0.50% for Female / SC / ST
Effective: Not stated (page 'Last Updated on 08.10.2026') · Last verified 21 Oct 2026 · Lender’s rate page
The amount disbursed. Interest during the moratorium is worked out for you.
Check your sanction letter for the exact repayment holiday.
Interest during the moratorium
Assumption: Central Bank of India's rate page we read does not say how it charges interest during the moratorium. If interest compounds monthly instead, the moratorium interest would be ₹3,38,190.
Your tax slab (old regime)
Plus 4% cess. Surcharge is not included.
EMI after moratorium
₹16,902
for 10 years, from month 37
Moratorium interest
₹2,92,500
over 3 years, added to the loan
Owed when EMIs start
₹12,92,500
Total interest
₹10,28,251
₹7,35,751 in EMIs + ₹2,92,500 moratorium
Total payment
₹20,28,251
Est. 80E tax saving
₹2,17,557
old regime, 30% slab + cess, 8 years
Amount borrowed vs interest
- Principal
- 49.3%
- ₹10,00,000
- Total interest
- 50.7%
- ₹10,28,251
Section 80E estimate by year
| Year | Interest paid | Tax saved |
|---|---|---|
| Year 4 | ₹1,22,492 | ₹38,217 |
| Year 5 | ₹1,14,300 | ₹35,662 |
| Year 6 | ₹1,05,272 | ₹32,845 |
| Year 7 | ₹95,324 | ₹29,741 |
| Year 8 | ₹84,362 | ₹26,321 |
| Year 9 | ₹72,281 | ₹22,552 |
| Year 10 | ₹58,969 | ₹18,398 |
| Year 11 | ₹44,299 | ₹13,821 |
| Year 12 | ₹28,133 | Outside limit |
| Year 13 | ₹10,319 | Outside limit |
Years are 12-month periods from the first disbursement, not financial years. Interest added to the loan during the moratorium is repaid inside the principal part of later EMIs; this estimate counts only interest you pay as interest, which is what your lender’s interest certificate shows. The saving also needs enough taxable income to absorb the deduction. ₹38,452 of interest falls after the 8-year window.
Compare repayment tenures
| Tenure | EMI | Interest in EMIs |
|---|---|---|
| 5 years | ₹27,303 | ₹3,45,687 |
| 7 years | ₹21,290 | ₹4,95,913 |
| 10 years | ₹16,902 | ₹7,35,751 |
| 15 years | ₹13,692 | ₹11,72,166 |
Amortisation Schedule
How each instalment splits between interest and principal over time.
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EMI
₹16,902
Central Bank of India education loan schemes
6 schemes, each read from Central Bank of India's own website. Pick any of them in the calculator above.
AAA / AA institutes in India (PM-Vidyalaxmi and others)
6.95% – 7.2%
Only for listed/rated institutesIndiaPM-Vidyalaxmi
- Benchmark
- Repo 5.50% + 1.50% to 1.70%
- Processing fee
- Not published on the page we checked
- Effective
- Not stated (page 'Last Updated on 08.10.2026')
- Last verified
- 21 Oct 2026
Shown as printed. The AAA figure (6.95%) is 5 bps below its own formula (Repo 5.50% + 1.50% = 7.00%); AA at 7.20% matches. The service-charges PDF is image-only, so no fee was read.
MBA / Medical / Engineering in India, with collateral (A / B / C institutes)
8.15% – 9.75%
Only for listed/rated institutesOnly for MBA, medical and engineering coursesOnly with collateralIndiaWith collateral
- Benchmark
- RBLR 8.50% -0.35% to +1.25%
- Processing fee
- Not published on the page we checked
- Effective
- Not stated (page 'Last Updated on 08.10.2026')
- Last verified
- 21 Oct 2026
PM-Vidyalaxmi, A-category institutes
9%
Only for listed/rated institutesIndiaPM-Vidyalaxmi
- Benchmark
- RBLR 8.50% + 0.50%
- Processing fee
- Not published on the page we checked
- Effective
- Not stated (page 'Last Updated on 08.10.2026')
- Last verified
- 21 Oct 2026
Cent Vidyarthi, top-rated institutions abroad (with collateral)
9.45%
Only for listed/rated institutesOnly for management, engineering and medical coursesOnly with collateralAbroadWith collateral
- Benchmark
- RBLR 8.50% + 0.95%
- Processing fee
- Not published on the page we checked
- Effective
- Not stated (page 'Last Updated on 08.10.2026')
- Last verified
- 21 Oct 2026
Cent Vidyarthi, up to ₹7.5 lakh (NCGTC guarantee, no collateral)
9.75%
Without collateral
- Girl students / women
- 0.50% for Female / SC / ST
- Benchmark
- RBLR 8.50% + 1.25%
- Processing fee
- Not published on the page we checked
- Effective
- Not stated (page 'Last Updated on 08.10.2026')
- Last verified
- 21 Oct 2026
Cent Skill
10%
Only for skill coursesSkill course
- Benchmark
- RBLR 8.50% + 1.50%
- Processing fee
- Not published on the page we checked
- Effective
- Not stated (page 'Last Updated on 08.10.2026')
- Last verified
- 21 Oct 2026
The rate you are offered depends on the bank's assessment and can be higher than the starting rate. Compare education loan rates across lenders →
Central Bank of India education loan (study in India or abroad) rates
Verified on 21 October 2026 from Central Bank of India's site ↗
- Starting from
- 9.75% p.a.
- Published range
- Only the starting rate is published
- Processing fee
- Not published
The rate you are offered depends on your credit score, income and employer and can be higher than the starting rate. RBI rules do not allow foreclosure or part-prepayment charges on floating-rate loans to individuals (other than for business purposes).
How Central Bank of India compares
Central Bank of India's education loan starting rate of 9.75% is the 5th lowest of 18 banks with a verified rate. The lowest is Bank of Maharashtra at 8.8%, and the median is 10%.
- Central Bank of India
- ₹13,077
- Bank of Maharashtra
- ₹12,560
- Median bank
- ₹13,215
Monthly EMI on ₹10,00,000 on a 10-year loan, at each bank's starting rate. Your own rate depends on the bank's assessment.
Rate Verification & Official Notice
9.75% p.a.
9.75% – 9.75% p.a.
Not published
Applicable Conditions & Eligibility Factors:
- The lowest rate open to all students the bank publishes (study in India or abroad); lower rates for listed institutes, specific courses or with collateral are not used. Your rate depends on the course, the institution and the co-borrower's credit profile
Source: Central Bank of India education loan rates (official)
Rates subject to borrower risk-grade & RBI regulatory changes.How It Works
- 1Choose a Central Bank of India scheme: its rate, processing fee, effective date and source fill in.
- 2Enter the course length and the grace period after it; together they make the moratorium.
- 3Central Bank of India's pages we checked do not say how moratorium interest is worked out, so simple interest is an assumption; the compounded figure is shown alongside.
- 4The EMI is worked out on what you owe when repayment starts, and interest paid is estimated year by year for Section 80E (old tax regime).
Key Factors Influencing Your Rate
- •Where you study: Central Bank of India publishes separate rates for courses in India and abroad.
- •Collateral: Central Bank of India's rates differ with and without security.
- •PM-Vidyalaxmi: Central Bank of India has a separate rate for students at institutions covered by the scheme, set by the institution's tier.
- •Skill and vocational courses have their own scheme.
- •Girl students: Central Bank of India publishes a concession on some schemes (see the table).
- •Some Central Bank of India rates come with conditions (only for MBA, medical and engineering courses; only with collateral; only for management, engineering and medical courses; only for skill courses); they are tagged in the table, and the calculator starts on a rate open to all.
- •Some Central Bank of India rates are only for students at institutes on the bank's list or in its rating categories (AAA / AA institutes in India (PM-Vidyalaxmi and others); MBA / Medical / Engineering in India, with collateral (A / B / C institutes); PM-Vidyalaxmi, A-category institutes; Cent Vidyarthi, top-rated institutions abroad (with collateral)); they are tagged in the table, and the calculator starts on a rate open to all students.
- •Your institution, course, co-borrower's income and credit score decide where in the range you land.
PM-Vidyalaxmi: interest subvention
- 3% interest subvention during the moratorium on loans up to ₹10,00,000, for students with annual family income up to ₹8,00,000 who get no other government scholarship or subvention. It goes to one lakh students a year, and from the second year it depends on satisfactory academic performance.
- Collateral-free and guarantor-free loans for admission to qualifying institutions (top 100 in NIRF rankings, state government institutions ranked 101-200, and central government institutions) through merit-based admission.
- A 75% credit guarantee for loans up to ₹7,50,000.
- Rates are capped at the bank’s external benchmark lending rate (EBLR) + 0.5%. Repayment up to 15 years after the moratorium (course period + 1 year).
- Under the related CSIS scheme, students with family income up to ₹4,50,000 on technical or professional courses get full interest subvention during the moratorium on loans up to ₹10,00,000.
The calculator does not deduct the subvention, because the official pages do not say how it is worked out. Apply and check eligibility on the official PM-Vidyalaxmi portal. Figures from PIB: Cabinet release, 6 Nov 2024, Lok Sabha reply, 27 Jul 2026 and press note, 29 Jul 2026; checked 21 Oct 2026.
Section 80E: what we confirmed
- The deduction is the interest paid on a loan for higher education of yourself or a relative, with no rupee limit. Principal repayment does not count.
- Available only under the old tax regime. It is not in the income tax portal’s new regime list.
- The loan must come from a financial institution or an approved charitable institution.
- Individuals only; HUFs cannot claim it.
- The 8-year limit is in the Act itself. We could not open the Act text on an official site, so it is shown as unverified and you can switch it off above.
The Income-tax Act, 1961 was repealed on 1 April 2026 and replaced by the Income-tax Act, 2025; the AY 2026-27 return pages still use the 80E name. Sources: income tax portal, deductions for AY 2026-27, ITR-4 instructions, ITR-2 instructions and new Act FAQ; checked 21 Oct 2026.
Worked Numerical Example: Central Bank of India Education Loan EMI Calculator
For a ₹10,00,000 loan at the starting rate of 9.75% a year, with a 24-month course and a 12-month grace period, simple interest of ₹2,92,500 builds up before repayment starts, so ₹12,92,500 is repaid over 10 years (120 months). The EMI is ₹16,902, with total interest of ₹10,28,251. If you pay the interest while you study, the EMI is lower; the calculator above shows each option.
Frequently Asked Questions: Central Bank of India Education Loan EMI Calculator
- What is Central Bank of India's education loan (study in India or abroad) interest rate?
- Central Bank of India publishes education loan (study in India or abroad) rates starting from 9.75% a year, checked on 21 October 2026. The rate you are offered depends on your credit score, income and employer.
- Which Central Bank of India education loan schemes does this calculator cover?
- AAA / AA institutes in India (PM-Vidyalaxmi and others); MBA / Medical / Engineering in India, with collateral (A / B / C institutes); PM-Vidyalaxmi, A-category institutes; Cent Vidyarthi, top-rated institutions abroad (with collateral); Cent Vidyarthi, up to ₹7.5 lakh (NCGTC guarantee, no collateral); Cent Skill. Each rate was read from Central Bank of India's own website; the table lists the source, effective date and date checked.
- How does Central Bank of India charge interest during the moratorium?
- The Central Bank of India pages we checked do not say. The calculator assumes simple interest during the course and grace period, shows the compounded figure for comparison, and lets you choose to pay the interest while studying instead. Ask the branch how it will be charged.
- Is Central Bank of India's processing fee included in the EMI?
- No, a Central Bank of India loan EMI covers principal and interest only. The Central Bank of India pages we checked do not publish a processing fee for these schemes, so ask the branch before you apply.
- Can I claim Section 80E on a Central Bank of India education loan?
- Section 80E covers the interest (not the principal) on an education loan from a bank, under the old tax regime. The calculator estimates the saving from the interest you pay each year; see the Section 80E notes and official sources on the education loan EMI calculator.
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