#1  
2nd March 2017, 11:51 AM
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Possibility to get an education loan from SBI with less than 9% of interest rate?


Hello sir, I have got 5 band in IELTS and already get confirmation latter from a university of Germany for MS course. How can I get an education loan from SBI less than 9% of interest rate?





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  #2  
9th March 2017, 09:05 PM
AshitaBanerjee
Senior Member
 
Join Date: Feb 2017
Posts: 247
Default Re: Possibility to get an education loan from SBI with less than 9% of interest rate?

This is what SBI norms say:
>>Interest Rates:

::SBI Student Loan Scheme::
Loan Amount & Rate of Interest

Up to Rs.4 lakhs - 3.50% above base rate

Above Rs.4 lakhs and up to Rs.7.5 lakhs - 3.75% above base rate

Above Rs.7.50 lakhs - 1.75% above base rate

The base rate is fixed at 9.85%. Do make an enquiry with the bank about the prevailing base rates. A concession of 0.50% is provided for girl students and a 1% concession is offered for full tenure of loan, if the interest is serviced promptly during moratorium and course period.
  #3  
15th March 2017, 12:52 PM
MerajAmir
Senior Member+
 
Join Date: Jan 2017
Location: kolkata
Posts: 812
Default Re: Possibility to get an education loan from SBI with less than 9% of interest rate?

No, you can not get the education loan less than 9% from SBI to study abroad as the minimum percentage for rate of interest is 10.10% for List AA type of Institution and for list A type of institution it is 10.10% for list B type of Institution it is 10.35% and for list C type of institution it 11.60%. There is no processing fees to get education loan from SBI.
Do you have any question? or have anything to say?



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