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#1
26th September 2019, 07:16 PM
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Whether the interest rates fluctuate under Bank education loan system?
Dear friends, I want to take an education loan from any bank for further studies. I know that I have to pay the interest of the loan amount. I just want to know whether the interest rates fluctuate under such education loan system?
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#2
3rd October 2019, 06:19 PM
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Re: Whether the interest rates fluctuate under Bank education loan system?
Interest rates vary according to the base rate determined by the RBI (Reserve Bank of India). Hence, the interest rate will marginally vary according to the RBI policy which is reviewed quaterly according to the inflation rate in India.
Normally, the education loan interest rates fluctuate between 12% to 14% at various PSU and Private sector banks in India. It can be marginally up and down according to the RBI guidelines. |
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