Education and Career Forum

Hello everyone, I want to apply an education loan in State Bank of Mysore. I want to do BTech through this education loan from this bank. Can I know about the interest rates charges of this bank education loan? Waiting for your response!

Interest rates under State Bank of Mysore (which is now part of State Bank of India) are :

=> Upto Rs. 7.5 Lacs :- 10.45% per annum
=> Above Rs. 7.5 Lacs :- 10.70% per annum

Concession of 0.50% on rate of interest of education loan is provided to female candidates.

Interest rate of State Bank of Mysore Education Loan Scheme for B.Tech Course are:-
For loans up to Rs. 4 Lakhs – 11.50%
Loan ranging from Rs. 4 Lakhs to Rs. 10 Lakhs – 12.50%
Loans above Rs. 10 Lakhs – 13.00%

All five associate banks of State Bank of India like Mysore, Patiala, Travancore etc are now merged with main parent bank and called State Bank of India.

The interest rate for state bank of India Education loan for Bachelor of Technology course is 10.45% effective. It changes with time.

The interest rate of education loan is now linked with Marginal Cost of Lending rate. It fluctuates when rates are changed.

At present, education loan interest is around 12.5%. It is subjected to variation in education loan.