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  #1  
11th November 2016, 04:22 PM
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How much interest will be charged against loan amount of Rs. 20 Lacs in State Bank of Hyderabad? How to pay an EMI?


If I apply an Education Loan from State Bank of Hyderabad for Rs. 20 Lacs for studying Abroad then how much interest will be charged? And how I have to pay the EMI? Please let me know about this asap.




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  #2  
13th November 2016, 05:59 PM
SudeepKumarSaha
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Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: How much interest will be charged against loan amount of Rs. 20 Lacs in State Bank of Hyderabad? How to pay an EMI?

The rate of interest fluctuates from time to time. It depends on the orders of Reserve Bank of India and the market conditions. Usually it fluctuates in the range of 12-13℅ for State Bank of India. For the entire study period, the interest will be charged as simple interest. You can repay the loan in the form of EMI by depositing the EMI every month in the savings account which is linked to your loan account. The loan recovery amount will be automatically deducted from your savings account every month.
Do you have any question? or have anything to say?



« Is there any way to save tax on interest against an Education Loan of Rs. 3.5 Lacs? | Is it beneficial to apply for an Education Loan in State Bank of Hyderabad for Abroad studies? »

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