Many banks and financial institutions
organize ‘loan festivals’ or ‘loan weeks’ where they offer significant discount
on the education loan rates. The
encouragingly invite students to come to the bank and explore what are the
latest offerings of the banks for loans over them. Students are always in
effort to obtain lucrative loan rates so that they can have cheaper EMIs to pay
every month. The education loan rates
being offered by the bank primarily depends on the students’ profile. Some more
factors that decide the education loan rates are – the amount of loan; the loan
tenure; and the repayment option. The banks provide fixed or floating rates of
interest depending over the subjective profile of the loan seekers. Normally,
interest on education loans are charged on monthly or daily basis by the banks.
Summary: Education loan rates depend on variety
of factors as per the individual profile of the students.
