Education and Career Forum

Hello Sir,
I want to do BDS course with an education loan. I would like to know what is the interest rates scheme for this course in Banks? I don’t want to prefer financial institutions. I need to know the interest rates of Banks for BDS course. I also want to know how will they recover the loan amount given in education loan?

The rate of interest in banks for education loan varies from time to time as per orders from RBI. The rate of interest is fixed by RBI as per the economic market conditions of India. The rate of interest usually fluctuates the range of 13-14.5 percent computed as simple interest for the entire study period.
You need to start repaying the loan once you get a job offer six months completion from the year of completion of your study course, whichever is earlier. You need to appraising the bank and request the branch manager to start your repayment by writing an application to the branch manager. The bank will give you a fixed EMI which you need to pay every month. In the scenario, when you do not get a job, the bank will send you a notice after six months completion to start the repayment of loan.