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  #1  
21st October 2015, 01:46 PM
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Whether Private Banks charge higher interest rates than Public banks against Education Loan?


Hello Sir,
If I apply for an Education Loan from any private bank then will they charge interest rates more than Public banks? Kindly clarify my doubts.




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  #2  
24th October 2015, 01:41 PM
SudeepKumarSaha
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Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Whether Private Banks charge higher interest rates than Public banks against Education Loan?

There is no difference in the rate of interest for education loan between public and private banks as the rate of interest is fixed by the Reserve Bank of India which applies for all the banks which are under the status of government undertaking. However, State Bank of India charges 1% lesser interest rate as compared to other banks. The rate of interest usually fluctuates in the range of 13-14.5 percent.
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