Education and Career Forum

Hello,
I want to study Bachelor of Hotel Management course.
I want to apply for Education Loan for this.
My question is, what interest rates will charges
from Public Sector Banks and Private Banks?
Please let me know asap.

The interest rate charged by the banks is fixed by Reserve Bank of India and the banks have no hand in it. So the interest rate is same for all the banks irrespective of public and private sector banks for education loan. However, State Bank of India offer one percent lesser interest rate than the market interest rate offered by rest of the banks. The interest is computed as simple interest and fluctuates from time to time. Usually it fluctuates between 13-14.5 percent per annum.

Originally Posted by Unregistered

Hello,
I want to study Bachelor of Hotel Management course.
I want to apply for Education Loan for this.
My question is, what interest rates will charges
from Public Sector Banks and Private Banks?
Please let me know asap.

Different Banks have their own rates of interest being charged on the education Loan although they follow the RBI rule and regulations. So, you need to chose the bank who will Sanction you the Loan at the lowest interest rate. Since, most if the Public Sector Bank will charge less interest rate as compare to the private Sector bank. So, i will suggest you to seek your Loan from SBI.