Q. What is the Interest rate charged for Student/ Education loan ?
Loans for some leading institutions are available at rates starting from 10.5% (p.a.) Most banks are competing with other banks, aggressively market student loans. The student loan segment has vast untapped potential. Banks and NBFCs are offering somewhat alike schemes. Almost every bank in the country is offering a student loan scheme in some form. What matters the most is obviously the interest rate and credit terms and conditions for education loans. These, like other loans, vary among banks. Along with the pricing of the product, another most valuable thing is documentation requirement and the quality of service offered by the bank and the approval speed of the loan.