Education and Career Forum

Hello sir, I want to get an education loan of 6 lakh from Indian Overseas Bank. Please tell me what will be the rate of interest, repayment period and processing fees?

The Rate of Interest, Repayment Period and Processing fees to get an education loan of Rs.6 lakh from Indian Overseas Bank is mentioned below :-

--> Rate of Interest :- 13.50%

--> Repayment Period :- 5-7 years

--> Processing Fees :- Maximum Rs.5000/-

Education Loan is provided to students pursuing professional courses in Engineering, Medical, Law, Agriculture, shipping etc. You are interested to take education loan from Indian Overseas Bank and want to know about the details about it.

**Rate of Interest: 13.50%. A nominal discount of 0.50% is given to female candidates.

**Repayment Period: The education loan can be repaid in monthly installments for a maximum period of 5-7 years.

**Loan Tenure: Period of course and one year or six months after getting job whichever is earlier.

**Processing Fee: No processing Fee.

>>In my opinion, you have to visit the nearest bank branch office of Indian Overseas Bank to get through all the relevant information regarding education loan.