Student loan interest rates
What are the interest rates on student loans?
ChristineJoseph last edited by
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- firstname.lastname@example.org Phone +91 9145332283