Education and Career Forum

Dear Sir, now I have recently completed my BTech. I need to apply for MTech course. I am planning to study MTech with the help of an education loan. Kindly let me know about the Interest rates of Bank of India for an education loan for MTech course?

Originally Posted by Unregistered

Dear Sir, now I have recently completed my BTech. I need to apply for MTech course. I am planning to study MTech with the help of an education loan. Kindly let me know about the Interest rates of Bank of India for an education loan for MTech course?

The rate of interest against an education loan in Bank of India is given below:

For education loans up to Rs 7.50 Lakhs – 1 year MCLR + 1.70% - i.e. 8.35 + 1.70 = 10.05%

For education loans above Rs 7.50 Lakhs – 1 year MCLR + 2.50% - i.e. 8.35 + 2.50 = 10.85%

Students can find the details in the website link given Click Here

Interest rates charges against an education loan in Bank Of India to study M.Tech are as follows:-
Maximum loan amount- Rs. 10 Lakh
Interest rates:-
Loans upto Rs. 4 Lakh-
10.35%, For girls- 9.80%

Loans Rs. 4.0 to 7.5 Lakh-
10.35%, For girls- 9.85%

Loans > Rs. 7.5 Lakh-
11.15%, For girls- 10.65%