Monthly EMI: ₹32,893 at 9.7% for 7 years. Total interest: ₹7,63,012.
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With a ₹20 Lakh education loan from Axis Bank at 9.7% for 7 years, you will pay a monthly EMI of ₹32,893. The total amount payable is ₹27,63,012, of which ₹7,63,012 is interest.
At 9.7% interest rate for 7 years, the EMI for ₹20 Lakh Education Loan from Axis Bank is ₹32,893 per month. Total interest payable: ₹7,63,012.
Axis Bank offers Education Loan at 9.70 - 13.70% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹20 Lakh at 9.7% for 7 years, you would pay approximately ₹7,63,012 as total interest, making the total repayment ₹27,63,012.
Axis Bank's prepayment policy for Education Loan: Nil. Making prepayments can significantly reduce your total interest outgo.
Axis Bank offers competitive rates starting from 9.70 - 13.70% with tenure up to 15 years. Compare with other banks on this page to find the best option for your ₹20 Lakh education loan.