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Bank of India Education Loan for ₹20 Lakh

EMI: ₹31,272/month at 8.1%. Min income: ₹60,139/month.

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Your Details
Income Details
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₹
Loan Parameters
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Eligibility Results
Maximum Eligible Loan
₹ 0
Monthly EMI
₹ 0
Total Interest
₹ 0
Total Payment
₹ 0
Monthly Income
₹ 0
Existing EMIs
₹ 0
0%
New Loan EMI
₹ 0
0%
Remaining Income
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Bank of India Education Loan for ₹20 Lakh - Key Details

Interest Rate
8.1% p.a.
Monthly EMI
₹31,272
Total Interest
₹6,26,848
Total Payment
₹26,26,848
Min Income Required
₹60,139/mo
Processing Fee
Nil

A ₹20 Lakh education loan from Bank of India at 8.1% interest for 7 years will cost you ₹31,272 per month as EMI. You will pay a total interest of ₹6,26,848 over the loan tenure. The minimum monthly income needed is ₹60,139 (assuming no existing EMIs).

Frequently Asked Questions

What is Bank of India education loan EMI for ₹20 Lakh?

Bank of India Education Loan EMI for ₹20 Lakh at 8.1% for 7 years is ₹31,272 per month.

What income do I need for ₹20 Lakh education loan from Bank of India?

You need a minimum monthly income of ₹60,139 for a ₹20 Lakh education loan from Bank of India (at 8.1% rate, assuming no existing EMIs).

What is the total interest on ₹20 Lakh education loan from Bank of India?

The total interest payable on ₹20 Lakh education loan from Bank of India at 8.1% for 7 years is ₹6,26,848.

What is Bank of India's processing fee for ₹20 Lakh education loan?

Bank of India charges a processing fee of Nil for Education Loan.

Can I prepay my Bank of India education loan?

Bank of India Education Loan prepayment policy: Nil.

₹20 Lakh Education Loan from Other Banks

SBIFrom 8.15 - 10.70%HDFC BankFrom 9.00 - 13.68%ICICI BankFrom 9.25 - 13.00%Axis BankFrom 9.70 - 13.70%Kotak Mahindra BankFrom 10.00 - 16.00%Bank of BarodaFrom 7.95 - 10.45%PNBFrom 8.10 - 10.90%Canara BankFrom 8.00 - 10.75%Union BankFrom 8.05 - 10.60%Indian BankFrom 8.00 - 10.30%

Other Bank of India Education Loan Amounts

₹5 LakhEMI ₹7,818/mo₹7 LakhEMI ₹10,945/mo₹10 LakhEMI ₹15,636/mo₹15 LakhEMI ₹23,454/mo₹25 LakhEMI ₹39,090/mo₹30 LakhEMI ₹46,908/mo₹40 LakhEMI ₹62,544/mo₹50 LakhEMI ₹78,180/mo