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  #1  
24th April 2018, 05:39 PM
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Interest rates calculation of Education Loan in Bank of Maharashtra?


I am interested to study BSc(IT) by taking an education loan from Bank of Maharashtra. 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.




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  #2  
11th June 2018, 02:16 PM
ppsahu
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Join Date: Apr 2018
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Default Re: Interest rates calculation of Education Loan in Bank of Maharashtra?

"Interest Rate of Bank of Maharashtra Education Loan"

Up to 7.5 Lakhs:- 1 Year MCLR + 2.00%

Above 7.5 Lakhs:- 1 Year MCLR + 1.25%

Bank of Maharashtra charges simple interest rate during moratorium period, there after charges compounded interest monthly. There are 1% concession in Interest is also available for moratorium period
Last edited by ppsahu; 6th August 2018 at 08:34 PM. Reason: Remove *
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