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  #1  
23rd February 2016, 12:58 AM
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Detailed information about Bank interest rates scheme against an Education Loan to study Abroad?


Dear Sir,
I am pursuing B.Tech course and I have a desire to do MS in Abroad. I will apply for an education loan for doing MS in Abroad. Kindly tell me about the interest rates schemes of various banks for studying Abroad?




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  #2  
27th February 2016, 07:49 PM
SudeepKumarSaha
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Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Detailed information about Bank interest rates scheme against an Education Loan to study Abroad?

It is nice to see you aspire for higher studies. You can definitely opt for education loan in order to study abroad. The rate of interest is almost same in all banks unless you get any kind of subsidy. This is because the rate of interest is fixed by Reserve Bank of India and all banks have to adhere to it. However, SBI offers 1% lesser interest rate owing to its privilege status but it has stricter terms and conditions as compared to other banks. The interest rate is computed as simple interest and fluctuates time to time as per orders from RBI. The usual rate of interest is in the range 13-14.5 percent.
Do you have any question? or have anything to say?



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