EMI: ₹33,048/month at 9.85%. Min income: ₹66,096/month.
A ₹20 Lakh education loan from Federal Bank at 9.85% interest for 7 years will cost you ₹33,048 per month as EMI. You will pay a total interest of ₹7,76,032 over the loan tenure. The minimum monthly income needed is ₹66,096 (assuming no existing EMIs).
Federal Bank Education Loan EMI for ₹20 Lakh at 9.85% for 7 years is ₹33,048 per month.
You need a minimum monthly income of ₹66,096 for a ₹20 Lakh education loan from Federal Bank (at 9.85% rate, assuming no existing EMIs).
The total interest payable on ₹20 Lakh education loan from Federal Bank at 9.85% for 7 years is ₹7,76,032.
Federal Bank charges a processing fee of 0.50% + GST for Education Loan.
Federal Bank Education Loan prepayment policy: Nil.