Monthly EMI: ₹33,721 at 10.5% for 7 years. Total interest: ₹8,32,564.
| Year | Principal | Interest | Balance |
|---|
With a ₹20 Lakh education loan from IDFC First Bank at 10.5% for 7 years, you will pay a monthly EMI of ₹33,721. The total amount payable is ₹28,32,564, of which ₹8,32,564 is interest.
At 10.5% interest rate for 7 years, the EMI for ₹20 Lakh Education Loan from IDFC First Bank is ₹33,721 per month. Total interest payable: ₹8,32,564.
IDFC First Bank offers Education Loan at 10.50 - 14.00% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹20 Lakh at 10.5% for 7 years, you would pay approximately ₹8,32,564 as total interest, making the total repayment ₹28,32,564.
IDFC First Bank's prepayment policy for Education Loan: Nil. Making prepayments can significantly reduce your total interest outgo.
IDFC First Bank offers competitive rates starting from 10.50 - 14.00% with tenure up to 10 years. Compare with other banks on this page to find the best option for your ₹20 Lakh education loan.