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  #1  
13th September 2015, 05:27 PM
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Interest rates charges against Education Loan in State Bank of India for doing B.Tech in IIT?


Hello All,
I am preparing for JEE Main & Advances. I want to study B.Tech in IIT campus. And I am preparing well for my entrance exam. I just want to get an Education Loan from State Bank of India for doing B.Tech. I have a Savings Account in SBI. So, I would like to know the interest rates charges against Education Loan for my study?




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  #2  
30th November 2015, 12:11 AM
SudeepKumarSaha
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Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Interest rates charges against Education Loan in State Bank of India for doing B.Tech in IIT?

The rate of interest for education loan is fixed by the Reserve Bank of India. Hence it is same for all the banks under government of India. However, State Bank of India offers one percent lesser interest rate as compared to other banks. The rate of interest fluctuates from time to time. The rate of interest fluctuates in the range of 12-13.5 percent per annum and the interest is computed as simple interest for the entire study period.
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