#1  
22nd October 2015, 01:06 AM
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Which one should I choose among Fixed and Floating Interest Rates in Bank Education Loan?


Respected Sir,
I have applied for Bank Education Loan. But the Bank Manager given me the option to choose the interest rate scheme. Kindly tell me between Fixed Interest Rates and Floating Interest Rates. which should I choose?





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  #2  
31st October 2015, 07:35 PM
ArunavaBasu
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Join Date: Mar 2015
Posts: 2,155
Default Re: Which one should I choose among Fixed and Floating Interest Rates in Bank Education Loan?

It is best to choose the Floating Rate Scheme as looking at the present situation of the Indian Economy the interest rates will only come down and it will not increase.
So it is best for you to take the Floating Rate as you will be able to benefit the most if you take the Floating Interest Rate for your Educational Loan.
  #3  
31st October 2015, 08:23 PM
ArunavaBasu
Senior Member++++
 
Join Date: Mar 2015
Posts: 2,155
Default Re: Which one should I choose among Fixed and Floating Interest Rates in Bank Education Loan?

Yes you need to notify the Bank about the step that has been taken by your University.
You need to show the official letter to the Bank which states that the Fee for your course has been increased.
Once you have shown that and applied for the extra amount in your Education Loan it is likely to get sanctioned soon and you will be able to increase the Educational Loan that you have taken.
Do you have any question? or have anything to say?



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