Education and Career Forum

I want to take an education loan from Indian Overseas Bank. Kindly let me know about the interest rates which will charge in this bank’s Vidya Jyoti Education Loan Scheme because I want to take an education loan for my Diploma Engineering course.

The interest rate of the Indian Overseas Bank Vidya Jyoti Education Loan Scheme for Diploma Engineering is 10.45%. For courses in India, you get the maximum loan of up to Rs.30 lakhs with an interest rate of 10.45%. The bank interest rate is RLLR + Spread (Repo Connected Lending Rate + Spread), which means it is linked to the RBIs rate. The RLLR is 6.85 percent, with a spread of 3.20 percent, resulting in a 10.05 percent effective rate of interest. Women candidates are eligible for a 0.50 percent discount.

Rate of Interest of Indian Overseas Bank Vidya Jyoti :-
The interest rate starts from 10.45% per annum, and it is the same over the tenure. You can get your graduation, post-graduation, or diploma degree with the help of an education loan.

Interest rates of the Indian Overseas Bank Vidya Jyoti Education Loan Scheme for the Diploma Engineering course will be about 8.15%

The interest rate of Indian overseas bank starts from 9.45%.

The interest on loan is applied as per the bank base rate that is 7 .25 % plus spread over the tenure .

The interest rate starts from 10.45% p.a and it is the same over the tenure.

If a co-borrower is a working indivudual of bank , they will get lower rate of interest on their borrowed loan starting from 8.15% p.a

1%rate concession if the interest is serviced to your loan during the moratorium period.