Education and Career Forum

Sir/Madam,
What interest rates will be charged if I will do MS in Germany by taking an Education Loan in India? I have an interest to do MS there and I have applied for various exams like GRE, TOEFL and IELTS. I would also like to know that I get any benefit for getting an Education Loan with any of these entrance exams?

There is no direct benefit as such in education loan on the basis of your scores in entrance exams like GRE, TOEFL, etc. However, you can get scholarship from foreign institutes on the basis of your performance in these entrance exams. This will aid to your savings and meeting the expense of your course in abroad. You can definitely take education loan to meet the expense of your course in abroad. The rate of interest fluctuates from time to time as per the orders from Reserve Bank of India and bank's internal policies. Usually the rate of interest fluctuates between 13-14.5 percent and is computed as simple interest for the entire study period. The rate of interest is usually same for most of the banks. You can get subsidies due to various internal policies of the concerned bank from which you are seeking education loan.