EMI: ₹7,856/month at 8.25%. Min income: ₹15,108/month.
A ₹5 Lakh education loan from IDBI Bank at 8.25% interest for 7 years will cost you ₹7,856 per month as EMI. You will pay a total interest of ₹1,59,904 over the loan tenure. The minimum monthly income needed is ₹15,108 (assuming no existing EMIs).
IDBI Bank Education Loan EMI for ₹5 Lakh at 8.25% for 7 years is ₹7,856 per month.
You need a minimum monthly income of ₹15,108 for a ₹5 Lakh education loan from IDBI Bank (at 8.25% rate, assuming no existing EMIs).
The total interest payable on ₹5 Lakh education loan from IDBI Bank at 8.25% for 7 years is ₹1,59,904.
IDBI Bank charges a processing fee of Nil for Education Loan.
IDBI Bank Education Loan prepayment policy: Nil.