Education and Career Forum

Hello Everyone,
I want to know that the rate of interest which all banks takes after providing an Education Loan is same? I have heard that it is same but couldn't find the suitable answer. Please tell me.

No, the rate of interest is different for all banks.

The rate of interest will change for every year and it mainly depends on amount of loan, loan period etc..,

To know the exact details of interest rates of educational loan, approach the bank and enquire about the loan interest rates.

No, the interest rates for educational loan for different banks are different. It’s totally depends upon bank to bank.

>>Interest to be charged at rates linked to the Base rate as decided by individual banks

>> If you take educational loan from a government bank then you have to pay more interest as the interest rate for private banks such as HDFC, Axis bank are more than government banks such as SBI, Central bank of India etc

>>If you take educational loan greater than 4 lakh then you have to pay one percent more in any bank.

>>A relaxation of 0.5% in interest will be given to girl candidates.