EMI: ₹33,721/month at 10.5%. Min income: ₹67,442/month.
A ₹20 Lakh education loan from IDFC First Bank at 10.5% interest for 7 years will cost you ₹33,721 per month as EMI. You will pay a total interest of ₹8,32,564 over the loan tenure. The minimum monthly income needed is ₹67,442 (assuming no existing EMIs).
IDFC First Bank Education Loan EMI for ₹20 Lakh at 10.5% for 7 years is ₹33,721 per month.
You need a minimum monthly income of ₹67,442 for a ₹20 Lakh education loan from IDFC First Bank (at 10.5% rate, assuming no existing EMIs).
The total interest payable on ₹20 Lakh education loan from IDFC First Bank at 10.5% for 7 years is ₹8,32,564.
IDFC First Bank charges a processing fee of 1% + GST for Education Loan.
IDFC First Bank Education Loan prepayment policy: Nil.