18th January 2017, 01:04 PM
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Rate of interest (Per annum) of SBI for the education loan of rupees 7 lakh? Processing fee for the same?

Hello sir, I am planing to apply for an education loan of 7 lakh from SBI next year. I wan to know the rate of interest off loan per annum of SBI? Processing fee for the same?

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23rd January 2017, 09:51 AM
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Default Re: Rate of interest (Per annum) of SBI for the education loan of rupees 7 lakh? Processing fee for the same?

The rate of interest fluctuates from time to time as per orders from Reserve Bank of India. You need to comply to this condition of education loan scheme. Usually the rate of interest fluctuates in the range of 11.5-12.5 percentage. The interest will be computed as simple interest for the entire study period. The processing fees of SBI is not high and is usually around 200 INR which is the cost of all documentation for the education loan .

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