EMI: ₹16,524/month at 9.85%. Min income: ₹33,048/month.
A ₹10 Lakh education loan from Federal Bank at 9.85% interest for 7 years will cost you ₹16,524 per month as EMI. You will pay a total interest of ₹3,88,016 over the loan tenure. The minimum monthly income needed is ₹33,048 (assuming no existing EMIs).
Federal Bank Education Loan EMI for ₹10 Lakh at 9.85% for 7 years is ₹16,524 per month.
You need a minimum monthly income of ₹33,048 for a ₹10 Lakh education loan from Federal Bank (at 9.85% rate, assuming no existing EMIs).
The total interest payable on ₹10 Lakh education loan from Federal Bank at 9.85% for 7 years is ₹3,88,016.
Federal Bank charges a processing fee of 0.50% + GST for Education Loan.
Federal Bank Education Loan prepayment policy: Nil.