MoneyLens / Education loans
Your education loan, explained.
Education loan · Narmada Global Scholar · Narmada Bank Ltd · ••••5518
Illustrative
Education loan · abroad · Bank
Sanction10 Jul
Interest to pay while studying
₹5,63,836
paid as it falls due
Paid out
₹30,00,000
of ₹30,00,000 sanctioned
EMIs start
30 Nov 2027
in 13 months
EMI
₹32,238
for 180 months
100% of the loan paid out
An education loan of ₹30,00,000 from Narmada Bank Ltd at 10.50% a year (floating), for study abroad. Interest is paid as it falls due while studying; EMIs start on 30 Nov 2027 and run 180 months. The interest is tax-deductible for 8 years under the old regime.
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