Education and Career Forum

Hello Sir, I am interested to study MBA course in Abroad. I want to apply for an education loan for this course. I have an account in Indian Overseas Bank. So, I want to know that what interest rates charges are there for this MBA course in Abroad if I apply an education loan from Indian Overseas Bank?

Applicable interest rates on Education Loan from Indian Overseas Bank to study MBA Abroad.

• Canara Bank - 8.50 onwards.
• HDFC Bank - 13.86℅.
• Kotak Mahindra Bank - 11.5%.
• Punjab National Bank - 8.45℅.

Applicable interest rates on Education Loan from Indian Overseas Bank to study MBA Abroad:

1. Axis Bank
Loans greater than Rs. 4 Lakhs and up to Rs. 7.5 Lakhs
Interest rate - 14.70%.

Loans greater than Rs. 7.5 Lakhs
Interest rate - 13.70%.

2. Bank of Baroda
For all loan types and amounts - 8.50% onwards.

3. Canara Bank
Interest scheme - 6.60%.

Indian Overseas Bank offers an education loan, known as Vidyajyoti, to individuals who wish to pursue a Diploma, Graduation, or Post-Graduation course in a recognised university.

Indian Overseas Bank Education Loan Interest Rates:-

Scheme:- Vidyajyot.
Maximum Loan Amount:- India: Rs.30 lakh Abroad:- Rs.40 lakh.
Interest Rate:- 10.45 %

Indian Overseas Bank education loan eligibility----

Student should be a citizen of India hold the passport of India.

There is no as limit.

The student should have cleared 10 + 2 from recognised board with essential grades.

A co-signer is necessary for a loan above rupees 4 lacs.


--- Applicable interest rate---

Up to rupees 7.5 lacs the interest rate is 10.70 %.

Above rupees 7.5 lacs the interest rate is 11.70 %.

For vocational course the interest rate is 11.70.

Upto rupees 7.50 lacs the interest rate is 10.55%.