Student loan interest rates
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What are the interest rates on student loans?
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Hey Jay,
Loans are offered by almost all banks and student loan interest rates are relatively lower than other loans.- Each bank gives student loans at different rates.
- 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.
- You must remember that if you lend money with a shorter repayment time, you will probably get the lowest interest rate.
- Keep an eye on the discounts that a bank may offer if you fulfill certain criteria.
- 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.
- To use a student loan interest rate calculator you have to know the loan amount, tenure, and interest rate.
- Take the annual interest rate on your loan and divide it by 365 to get the amount of interest on a daily basis.
If you require further assistance with your student loan, feel free to reach out to us at Email- info@ischoolconnect.com Phone +91 9145332283