The largest lender of the country, State Bank of India has decided for a dip in interest rates of education loans. The slash in rates should take place by as much as 100 basis points, said the bank without furnishing further details.
Presently the range of interest rates in this segment ranges from 12.25% to 14.50% for the bank.
Education loan forms less than 7% of the total retail loan book of SBI.
Women students would get a 0.5% waiver on interest rates from the bank.
