Interest Subsidy On Education Loan State Bank Of Mysore
 

I want to know the interest rate on Educational Loan in State Bank of Mysore so can you tell me?

Re: Interest Subsidy On Education Loan State Bank Of Mysore
 

State Bank of Mysore offers Gnanamitra Educational Loan to enable students with academic brilliance to meet tuition and other fees / maintenance costs / books and equipment and cost of passage for studies abroad etc., for pursuing studies at recognised school / college / institution.

Education Loan Interest rate-

SBM Base Rate inrespect of all advances (other than certain exempted categories): 9.65 %( w.e.f 07.10.2015)

SBM Prime Lending Rate- SBMPLR-15.00%( w.e.f 04.03.2013)

Marginal Cost of Funds based Lending Rate (MCLR) MCLR effective from 01.10.2016

Overnight MCLR 9.10%
One Month MCLR 9.20%
Three Month MCLR 9.25%
Six Month MCLR 9.35%
1 Year MCLR 9.45%
2 Year MCLR 9.60%
3 Year MCLR 9.70%

Education Loan Limit

Amount of loan MIN(Rs.) MAX(Rs.)
(in Indian Rupees)
Higher Education- In India 10000 30.00 lacs
Higher Education- Abroad 10000 40.00 lacs

Education Loan Margin

Upto Rs. 4.00 lacs Nil
Above Rs. 4.00 lacs -
For studies in India 5%
For studies abroad 15%