Education and Career Forum

I am willing to study degree course so, I need education loan of 6 lakh from IDBI. Please tell me what will be the interest rate, processing fees, maximum tenure and pre-closer charges?

The interest rate, processing fees, maximum tenure, and pre-closure charges for an education loan of 6 lakh from IDBI Bank are as follows:

Interest rate: The interest rate for an education loan from IDBI Bank starts at 7.25% per annum. However, the final interest rate offered to you will depend on factors such as your credit score, collateral, and other details.

Processing fees: IDBI Bank charges a processing fee of up to 1% of the loan amount, subject to a minimum of Rs. 1,000.

Maximum tenure: The maximum tenure for an education loan from IDBI Bank is 10 years. However, the actual tenure may depend on the loan amount, repayment capacity, and other factors.

Pre-closure charges: IDBI Bank does not charge any pre-closure charges for education loans taken by individuals. This means you can repay the loan in full or in part at any time during the loan tenure without any additional charges.

It is important to note that the above details are subject to change and may vary based on the bank's policies and your specific loan application. It is recommended to check with IDBI Bank for the latest and most accurate information regarding their education loan product.