EMI: ₹67,443/month at 10.5%. Min income: ₹1,34,886/month.
A ₹40 Lakh education loan from IDFC First Bank at 10.5% interest for 7 years will cost you ₹67,443 per month as EMI. You will pay a total interest of ₹16,65,212 over the loan tenure. The minimum monthly income needed is ₹1,34,886 (assuming no existing EMIs).
IDFC First Bank Education Loan EMI for ₹40 Lakh at 10.5% for 7 years is ₹67,443 per month.
You need a minimum monthly income of ₹1,34,886 for a ₹40 Lakh education loan from IDFC First Bank (at 10.5% rate, assuming no existing EMIs).
The total interest payable on ₹40 Lakh education loan from IDFC First Bank at 10.5% for 7 years is ₹16,65,212.
IDFC First Bank charges a processing fee of 1% + GST for Education Loan.
IDFC First Bank Education Loan prepayment policy: Nil.