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#1
16th September 2019, 12:15 AM
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How can I calculate the interest rates of an education loan of City Union Bank Limited?
Hello Sir, I am interested to study BTech course by taking an education loan from City Union Bank Limited. I don’t know how they calculate the interest rates. So, I just want to know how can I calculate the interest rates of an education loan of this particular bank. Please help me in this regard.
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#2
19th September 2019, 05:50 PM
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Re: How can I calculate the interest rates of an education loan of City Union Bank Limited?
Interest rates for education loan depends on the rates released by the RBI according to their policy. The basal rate is same for all the banks and they charge over that basal rate. For IDFC Bank the rates are calculated in the following way.
- For education loan up to 4 lakhs: Base Rate + 4.75% - For education loan above 4 lakhs: Base Rate + 5.75% There is a concession of 0.50% for female students. |
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