Education and Career Forum

I want to take an education loan from Bank of India. Kindly let me know about the interest rates which will charge in this bank’s education loan because I want to take an education loan for my MBBS course.

For education loan from Bank of India, you have to pay at the following rate:

1. For loan up to 7.5 lacs: base rate + 3%

2. For loan above 7.5 lacs: base rate + 2.5%

You can get the latest base rate from RBI website, which keeps on changing according to economic situation.

Interest rates against an education loan of Bank of India for pursuing MBBS course are mentioned below :-

--> For loans upto Rs. 7.5 lakhs :- 1 Year MCLR + 1.70%
--> For loans above Rs. 7.5 lakhs :- 1 Year MCLR + 2.50%.

Originally Posted by Unregistered

I want to take an education loan from Bank of India. Kindly let me know about the interest rates which will charge in this bank’s education loan because I want to take an education loan for my MBBS course.

Interest rates against an education loan by Bank of India are given below:

For education loans up to Rs 7.5 Lakhs is 10.20%

For education loans above Rs 7.5 Lakhs is 11.00%

Women students can get 0.50% concession in interest rate in Bank of India.

For professional courses like engineering / medical / management interest rate concession 0.50%

Students can find the details in the Bank of India education loan website link given Click Here