SBI slashes education loan interest rates
Students prefer to use the services of nationalised banks for study loans.
New Delhi: State Bank of India has lowered its interest rates on student loans to be sanctioned from May 2009 to September 2009.
Interest rates for loans upto Rs Four lakh has been reduced to 11.5 per cent from 11.75 per cent earlier.
Rate for loans between Rupees Four lakh to Rupees Seven lakh fifty thousand has been slashed to 11.25 per cent from 13.25 per cent.
Education loans for amount above Rupees Seven lakh fifty thousand will now be available at 11 per cent rate of interest.