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  #1  
13th April 2018, 09:08 AM
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How much monthly EMI I should pay to Bank with 8% interest rates charged against an Education Loan of Rs. 4 Lacs?


Hello everyone, I am going to take an Education Loan from Bank of Rs. 4 Lacs. They are charging me 8% interest per annum for 3 years. I would like to know what monthly EMI I have to pay to the Bank? Kindly tell me immediately.




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  #2  
19th April 2018, 10:41 PM
sampathkumar29
Senior Member+++++
  
Join Date: Dec 2010
Posts: 2,992
Default Re: How much monthly EMI I should pay to Bank with 8% interest rates charged against an Education Loan of Rs. 4 Lacs?

For education loan of 4 Lakhs with 8% interest for 3 years duration,

Payable monthly EMI Rs. 12,535
Total interest payable Rs. 51,244
Total payment (Principal + Interest) Rs. 4,51,244
  #3  
20th April 2018, 06:35 AM
mebatman
 
Join Date: Jan 2018
Posts: 297
Default Re: How much monthly EMI I should pay to Bank with 8% interest rates charged against an Education Loan of Rs. 4 Lacs?

Your loan is 4 lakh
Rate of interest is 8%
Tenure 3 years

EMI is 12,534
Do you have any question? or have anything to say?



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