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  #1  
10th August 2015, 09:47 PM
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Bank of India Interest rate charges for Education Loan to study MBA course?


Hello,
I just want to know that what is the interest rates of Bank of India which they will charge against the Education Loan for doing MBA course? Please let me know immediately.




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  #2  
24th August 2015, 01:32 PM
SudeepKumarSaha
Senior Member+++++
  
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Bank of India Interest rate charges for Education Loan to study MBA course?

The rate of interest is decided by the Reserve Bank of India and it depends on the market conditions. It fluctuates from time to time. So, the bank will charge interest as per RBI orders. Usually it fluctuates in the range 13-14.5 percentage per annum. The interest is accounted as simple interest for the entire study period.
  #3  
1st September 2015, 01:16 AM
ArunavaBasu
Senior Member++++
  
Join Date: Mar 2015
Posts: 2,155
Default Re: Bank of India Interest rate charges for Education Loan to study MBA course?

The interest rates fluctuate and if you are taking loan on the floating criteria then the interest rate for Bank of India at present for the Educational Loan is about 12-13% per annum.
If you are taking Loan on the Floating rates then the rate will vary on the policy of the Reserve Bank of India.
Do you have any question? or have anything to say?



« Interest rates charged against Education Loan of Andhra Bank to study MBBS in Chennai for a candidate of Hyderabad? | What kind of benefits I will get to apply for Bank Education Loan for studying B.Tech being a female candidate? »

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