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#1
16th February 2016, 03:51 PM
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Detailed information about margin and repayment in education loan scheme?
Hi Friends,
I want an education loan of about Rs. 18 Lacs for study in Canada. I have already read all about education loan rates and all but I am confused about margin i.e., given by every bank as 15% and about repayment of loan. Kindly let me know about these two. |
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#2
18th February 2016, 03:48 AM
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Re: Detailed information about margin and repayment in education loan scheme?
The interest on Educational Loan that is charged is 13.5% in all the Banks except SBI.
SBI charges an interest rate of 12.5%. These are the interest rates that will be charged by the Banks when you are going for the Floating Interest rate. The repayment is simple and you need to start repaying the Loan from 6 months after the completion of your course. This is the rule in each and every one of the Banks. You can repay the Loan from earlier if you want to. |
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