Student loan interests
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Could you please tell me what are the various interest rates on student loans?
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Hi Pranay,
Loans are offered by almost all banks and student loan interest rates are relatively lower than other loans. These loans give all students the equal opportunity to get a good education, irrespective of their financial backgrounds.- The student loan interest rate for each bank are different.
- Most of these loans are federal loans and can range from 3.73% to 6.28% depending on the student’s level of study.
- Bank of Baroda charges 6.75% over a loan of 20 lakh for a tenure of seven years.
- Union Bank’s student loan interest rate is 6.8%.
- For international student loan interest rates, you can consider checking loan and finance companies like Ascent, College Ave, and others.
Keep an eye on the discounts that a bank may offer if you fulfill certain criteria. For further assistance, feel free to get in touch with our study abroad counselors.
