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  #1  
1st March 2016, 01:56 PM
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Interest rates charges against an Education Loan in State Bank Of India for study B.Tech in IIT?


Hello Everyone,
I am preparing for several Engineering entrance exams. I want to study B.Tech in IIT and I am preparing seriously for my entrance exams. I just want to get an education loan from State Bank Of India for doing B.Tech course. I have a Savings Bank account in SBI. So, I would like to know the interest rates charges against an education loan for me?




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  #2  
28th March 2016, 06:33 PM
ArunavaBasu
Senior Member++++
  
Join Date: Mar 2015
Posts: 2,155
Default Re: Interest rates charges against an Education Loan in State Bank Of India for study B.Tech in IIT?

The interest rate changes according to the changes in policy of the Reserve Bank of India so it will change according to the policy changes.
If you are taking the Educational Loan on the basis of the fixed interest rate then the interest rate charged will not change during the course of your Loan.
If you are opting for a Loan in the variable interest rate which is more advisable considering the present economic situation in the country then the interest rate charged by SBI is 1% less than other Banks when it comes to Educational Loan.
So the interest rate charged by SBI is 9.5% per annum now.
Do you have any question? or have anything to say?



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