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  #1  
23rd April 2017, 09:10 PM
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Interest rate of Central Bank for education loan of amount 5 lakh? Can I set EMI myself?


Hello sir, I am from Ernakulam and want to study Electrical engineering course. So, I need education loan from Central Bank. Please tell me rate of interest of amount 5 lakh from Central Bank? Can I set EMI myself?




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  #2  
24th April 2017, 10:03 PM
MerajAmir
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Join Date: Jan 2017
Location: kolkata
Posts: 812
Default Re: Interest rate of Central Bank for education loan of amount 5 lakh? Can I set EMI myself?

Up to Rs. 4 lac there will not be any interest levied above Rs.4 lac the interest rate of 5% will be levied and you can repay the loan amount within the period of 10 years. No, you cannot set the EMI by yourself there is calculation for EMI. According to that you need to pay the monthly installments after completion of your course or after 6 months of getting the job.
Do you have any question? or have anything to say?



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