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Educational loan rates?
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Hi I am planning to apply for an educational loan to finance my MBA degree. I wanted to know whether a fixed interest or a floating interest rate is better, given the present economic scenario. I would be very grateful if you could explain to me the factor that affect the floating interest rate.
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Education Loans
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Asked by Vikas G -
1 year ago
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Best Answer:
Some banks offer fixed interest rate and some floating rate on education loan this you must check with banks while doing research and finalizing. If there is not much difference between fixed and floating rate e.g. of 1% then opt for fixed rate. But some banks do not offer fixed rate for a full period of loan they offer fixed with a reset clause in which they get option of revising the rate whenever it feels say when rates increases. So always all check these factors very carefully. In the current economic scenario as banks are planning to increase interest rates after the RBI CRR so fixed be best but check every thing carefully. To compare education loans of different banks visit rupeetimes.com.
1 year ago - By Kartik
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