26th August 2015, 02:50 PM
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Does every Bank has its own rate of Margin for Education Loan?

I want an Education Loan of Rs. 15 Lacs for study in Germany. I have read all about Education Loan rates and all but I am confused about the rate of Margin? I would like to know that every Bank has own rate of Margin?

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17th September 2015, 12:11 AM
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Join Date: Jul 2013
Posts: 14,288
Default Re: Does every Bank has its own rate of Margin for Education Loan?

No, most of the banks have same rate of Margin for education loans except only some banks will have different rate of margins. The procedure and process to apply for Education loan is same in all most all banks as well as the rate of margin will also be the same. Before applying for education loan, try to know about the rate of margin offered by bank for Education loan.
18th September 2015, 12:00 AM
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Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Does every Bank has its own rate of Margin for Education Loan?

No, most of the banks follow the norms as specified by Reserve Bank of India. However, since it is not a mandatory norm, so every bank does not bear the same.

- Usually for loans below 4.5 lakhs it is 5-10 percent.
- For loan above 4.5 lakhs upto 7.5 lakhs, it is 15 percent .
- For loans above 7.5 lakhs, it is 20-25 percent.
Do you have any question? or have anything to say?

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