Interest Rates | Education Loan for Masters

Types of Interest Rates in Education Loan

The bank sets the interest rate for student loans; however, it can change at regular intervals. Some banks provide a fixed interest rate for the loan's life. Others have interest rates based on the one-year Marginal Cost of Funds Lending Rate (MCLR). Given below are the interest rates for various banks -

Bank

Interest Rates per annum

Punjab National Bank	6.75% to 9.50%
Central Bank of India	8.50% to 9.00%
Canara Bank	6.90% to 8.90%
State Bank of India	6.85% to 8.65%
Bank of Baroda	6.75% to 9.85%
IDBI Bank	6.75% to 8.75%
Bank of India	8.95% to 9.75%
Tamilnad Mercantile Bank	10.45% to 11.45%
HDFC	9.55% to 13.25%
UCO Bank	4.00% to 10.20%
Karnataka Bank	9.98% to 12.38%
Federal Bank	10.05%
Karur Vysya Bank	10.60% to 11.60%
Tata Capital	10.99%
Jammu and Kashmir Bank	RLLR + 1.50% to RLLR + 3.50% p.a.
Axis Bank	13.70% to 15.20%
Kotak Mahindra Bank	Up to 16%
Avanse	12.65%
Bank of India	8.95%
Bank of Maharashtra	8.55%
Indian Bank	7.15%
Indian Overseas Bank	9.05%
Oriental Bank	10.65%