Education and Career Forum

I am interested to study BSc(IT) by taking an education loan from State Bank of India. I don’t know how they calculate the interest rates. So, I just want to know about the calculation of education loan. Please tell me asap.

Details of interest rates of State Bank of India Education Loan are mentioned below :-

--> For loans upto Rs. 7.5 lakhs :- 10.25% per annum
--> For loans above Rs. 7.5 lakhs :- 10.50% per annum.

Concession of 0.50% on rate of interest is provided to girl candidates.

The details of State Bank of India Education Loan are mentioned below :-

--> Upto Rs. 7.5 Lacs :- 1 year MCLR (8.25%) + 2.00% spread i.e., 10.25% per annum.
--> Above Rs. 7.5 Lacs :- 1 year MCLR (8.25%) + 2.25% spread i.e., 10.50% per annum.

For girl candidates, 0.50% concession is provided on Interest of State Bank of India Education Loan.