7th March 2015, 10:55 PM
Posts: n/a

Can I get deduction in Bank Education Loan to study MBA if my father is a Government serviceman?

Respected Sir,
I want to apply for Education Loan
for doing MBA. My father is working in
a corporation in Government Service.
So, I get any deduction in interest
if I apply for Education Loan from any Bank?

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10th March 2015, 05:24 PM
Senior Member+++++
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Can I get deduction in Bank Education Loan to study MBA if my father is a Government serviceman?

I am sorry to state that there is no subsidy or deduction in the interest rate if your father is working in Government service. However, if you pay the interest every month during the study course, then you will get a rebate of 1% in the interest of your education loan after completion of the course during repayment. If you are father is a senior citizen, then you can get a subsidy but it is upto the concerned bank's policies. If you take education loan from State Bank of India, then you can get interest rate 1% lesser than other nationalized banks.
Do you have any question? or have anything to say?

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