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  #1  
29th January 2017, 02:59 PM
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What is the interest rate and repayment period of PNB for an education loan of rupees 4 lakhs?


Hello sir, I wish to apply for an education loan of rupees 4 lakhs from PNB to study a degree course. Please tell me what will be interest rate and repayment period?




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  #2  
31st January 2017, 07:56 AM
SudeepKumarSaha
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Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: What is the interest rate and repayment period of PNB for an education loan of rupees 4 lakhs?

The rate of interest fluctuates from time to time as per orders from Reserve Bank of India. The interest is computed as simple interest for the entire study period. Usually the rate of interest fluctuates in the range of 12.5-13.5 percent. The repayment period can be long enough and is usually a maximum of 15 years. However, banks request to repay it by 7-10 years.
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« Can a minor apply for an education loan at SBI worth rupees 10 lakh if have two lands in Greater Noida, Uttar Pradesh? | What should I do to repay the amount of an education loan of SBI before repayment period? Is it a good decision? »

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