EMI: ₹11,802/month at 10.5%. Min income: ₹23,604/month.
A ₹7 Lakh education loan from IDFC First Bank at 10.5% interest for 7 years will cost you ₹11,802 per month as EMI. You will pay a total interest of ₹2,91,368 over the loan tenure. The minimum monthly income needed is ₹23,604 (assuming no existing EMIs).
IDFC First Bank Education Loan EMI for ₹7 Lakh at 10.5% for 7 years is ₹11,802 per month.
You need a minimum monthly income of ₹23,604 for a ₹7 Lakh education loan from IDFC First Bank (at 10.5% rate, assuming no existing EMIs).
The total interest payable on ₹7 Lakh education loan from IDFC First Bank at 10.5% for 7 years is ₹2,91,368.
IDFC First Bank charges a processing fee of 1% + GST for Education Loan.
IDFC First Bank Education Loan prepayment policy: Nil.