EMI: ₹8,430/month at 10.5%. Min income: ₹16,860/month.
A ₹5 Lakh education loan from IDFC First Bank at 10.5% interest for 7 years will cost you ₹8,430 per month as EMI. You will pay a total interest of ₹2,08,120 over the loan tenure. The minimum monthly income needed is ₹16,860 (assuming no existing EMIs).
IDFC First Bank Education Loan EMI for ₹5 Lakh at 10.5% for 7 years is ₹8,430 per month.
You need a minimum monthly income of ₹16,860 for a ₹5 Lakh education loan from IDFC First Bank (at 10.5% rate, assuming no existing EMIs).
The total interest payable on ₹5 Lakh education loan from IDFC First Bank at 10.5% for 7 years is ₹2,08,120.
IDFC First Bank charges a processing fee of 1% + GST for Education Loan.
IDFC First Bank Education Loan prepayment policy: Nil.