Federal Bank Education Loan Details

I want to MBA from Delhi university I am belong to poor family so I can not give MBA fee can you provide me interest rate on Federal Bank Education Loan?

[Pathak]

You want to know Federal Bank Education Loan interest Rate so here is its interest rate:

4 Lakhs- 16.25% p.a

4 lakhs to 7.5 lakhs- 17.75% p.a

Above 7.5 lakh – 17.75% p.a

for Female/girl students Federal bank providing special Education loans with 0.50% less interest rate


Federal Bank Education Loan – courses:

Regular Professional and Technical Education courses of Graduation and Post-graduation studies, which are approved by AICTE/UGC/Government of India.

Aeronautical, Shipping degree and Diploma courses
Teacher Training and Nursing Courses, approved by state government or central govt of India.

Job oriented professional courses for abroad studies

Degree/Intermediate courses

Hello sir I want to know what is the eligibility for taking Education Loan in Federal Bank so here can you please give me details ?

[pawan]

Hey as The Federal Bank Limited is a major Indian commercial bank in the private sector, headquartered at Aluva, Kochi, Kerala.

Federal Bank education loans were launched to provide financial assistance to meritorious students willing to pursue their higher education.

Eligibility

Candidates applying for Federal Bank student loan should be Indian nationals.

Candidates will be considered eligible only if they get admission to various professional or technical courses through merit based selection process or entrance examination.


Amount of Loan

Federal Vidya Loan –

The maximum education loan offered under this scheme is Rs.25 lacs.

Federal Special Vidya Loan –

The maximum education loan offered is Rs.7.5 lacs (Studies in India) and Rs.15 lacs (Studies abroad) respectively.


Rate of Interest

Federal Vidya Loan

Up to Rs.4 Lakhs – 12.75%

Above Rs.4 Lakhs – 14.25%

Federal Special Vidya Loan

Up to Rs.4 Lakhs – 13.75 (BPLR)

Above Rs.4 Lakhs – 14.75 (BPLR + 1%


Repayment

Federal Vidya Loan –

Eleven years is the maximum time period given for the repayment of loan.

Federal Special Vidya Loan –

Five to seven years of time is given to the candidates for paying back the loan.

The loan is repayable in equal monthly instalments in 5 to 7 years after moratorium period.