{"id":10589,"date":"2024-02-28T16:34:25","date_gmt":"2024-02-28T11:04:25","guid":{"rendered":"https:\/\/fly.finance\/blog\/?p=10589"},"modified":"2024-03-04T16:48:11","modified_gmt":"2024-03-04T11:18:11","slug":"idbi-education-loan-interest-rate","status":"publish","type":"post","link":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/","title":{"rendered":"IDBI Education Loan Interest Rate: Calculation, Discounts"},"content":{"rendered":"\n<p>IDBI (Industrial Development Bank of India) is one of the leading banks in India and a preferred choice for education loans to study abroad. The bank offers education loans on interest rates ranging from 10% to 12% subject to eligibility criteria and the bank\u2019s internal policy. IDBI bank is one of the associated banks with the Vidya Lakshmi portal and you can easily check all the loan-related terms and conditions on the portal. The schemes for education loans to study abroad are also mentioned on the portal and you can check the features for the same. Let\u2019s understand more about IDBI Education loan interest rates and how the bank determines them.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><h2 id=\"table-of-contents\">Table of contents<\/h2><ul><li><a href=\"#h-what-is-idbi-education-loan-interest-rate\" data-level=\"2\">What is IDBI Education Loan Interest Rate?<\/a><ul><li><a href=\"#h-rebate-on-interest-rate\" data-level=\"3\">Rebate on Interest Rate<\/a><\/li><\/ul><\/li><li><a href=\"#h-factors-affecting-education-loan-interest-rate\" data-level=\"2\">Factors Affecting Education Loan Interest Rate<\/a><ul><li><a href=\"#h-credit-score\" data-level=\"3\">Credit Score<\/a><\/li><li><a href=\"#h-type-of-course-and-institution\" data-level=\"3\">Type of Course and Institution<\/a><\/li><li><a href=\"#h-loan-amount\" data-level=\"3\">Loan Amount<\/a><\/li><\/ul><\/li><li><a href=\"#h-faqs-on-idbi-education-loan-interest-rate\" data-level=\"2\">FAQs on IDBI Education Loan Interest Rate<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-idbi-education-loan-interest-rate\"><span id=\"what-is-idbi-education-loan-interest-rate\">What is IDBI Education Loan Interest Rate?<\/span><\/h2>\n\n\n\n<p>IDBI Bank provides education loans on both fixed and floating rates of interest. As per the current updates, the bank charges an 11.10% interest rate on education loans below INR 7.5 lakhs and 10.60% for education loans above INR 7.5 lakhs. The bank also provides a Remission of 1% of interest during the moratorium available for servicing of interest during the moratorium. Check more details on the interest rates below:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Loan Amount<\/strong><\/td><td><strong>IDBI Education Loan Interest Rate<\/strong><\/td><\/tr><tr><td>Up to INR 7.5 lakhs (studies in India and abroad)<\/td><td>11.10%<\/td><\/tr><tr><td>Above INR 7.5 lakhs (studies abroad and studies in Premier Institutions abroad)<\/td><td>11.10%<\/td><\/tr><tr><td>Above Rs. 7.5 lakhs (studies abroad and studies in Premier Institutions abroad)<\/td><td>10.60%<\/td><\/tr><tr><td>All amount (for Vocational Courses)<\/td><td>11%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-rebate-on-interest-rate\"><span id=\"rebate-on-interest-rate\">Rebate on Interest Rate<\/span><\/h3>\n\n\n\n<p>IDBI bank provides certain rebates to female students, bank customers, the physically challenged etc. The discount is applicable only on the interest rate and is implemented to make the loan cheaper so that they can afford the loan. It is very important to check and compare interest rates before initiating the <a href=\"https:\/\/fly.finance\/blog\/education-loan\/idbi-bank-education-loan-disbursement-process\/\"><strong>IDBI education loan disbursement process<\/strong><\/a>. Check the discount on the interest rate below:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Rebate of 50 bps for all female students<\/li>\n\n\n\n<li>Rebate of 25 bps for existing Bank customer (Asset \/ Liability) and their children<\/li>\n\n\n\n<li>Rebate of 25 bps for physically challenged applicants<\/li>\n\n\n\n<li>Rebate of 25 bps for students belonging to ST, SC and minority community<\/li>\n<\/ul>\n\n\n\n<p><strong>Note: <\/strong>The total discount on the applicable interest rate shall not exceed 50 bps for studies abroad subject to prevailing RLLR (repo-linked lending rate). Here, BPS stands for basic points as determined by the bank.<\/p>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong><em>Also Read: Want education loan from a government bank? Check here all about <\/em><\/strong><a href=\"https:\/\/fly.finance\/blog\/education-loan\/pnb-education-loan-interest-rate\/\"><strong><em>PNB Education Loan Interest Rate<\/em><\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-factors-affecting-education-loan-interest-rate\"><span id=\"factors-affecting-education-loan-interest-rate\">Factors Affecting Education Loan Interest Rate<\/span><\/h2>\n\n\n\n<p>There are certain factors which may impact the interest rate like the credit score of the student, total loan amount, collateral etc. Check all the details on major factors below:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-credit-score\"><span id=\"credit-score\">Credit Score<\/span><\/h3>\n\n\n\n<p>The credit score and report show the repayment behaviour of past debts and the use of credit. A higher credit score indicates a lower risk for the lender, and as a result, borrowers with higher credit scores are likely to secure education loans at lower interest rates. Similarly, individuals with lower credit scores may face higher interest rates as the bank senses high risk.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-type-of-course-and-institution\"><span id=\"type-of-course-and-institution\">Type of Course and Institution<\/span><\/h3>\n\n\n\n<p>The nature of the educational program and the reputation of the institution play a role in determining the interest rate. Courses at renowned institutions or those leading to professions in high demand may be considered less risky by lenders. As a result, loans for such courses may come with lower interest rates compared to loans for less recognized courses or institutions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-loan-amount\"><span id=\"loan-amount\">Loan Amount<\/span><\/h3>\n\n\n\n<p>The total loan amount may also impact the interest rate for education loans. Generally, larger loan amounts may be associated with higher interest rates. This is because lending larger sums of money is considered a higher risk for the lender, and they may adjust interest rates accordingly to mitigate potential losses.<\/p>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong><em>Also Read: Are you travelling to New Zealand for studies? Check here all about the <\/em><\/strong><a href=\"https:\/\/fly.finance\/blog\/student-account\/best-banks-in-new-zealand-for-international-students\/\"><strong><em>best banks in New Zealand for International Students<\/em><\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs-on-idbi-education-loan-interest-rate\"><span id=\"faqs-on-idbi-education-loan-interest-rate\">FAQs on IDBI Education Loan Interest Rate<\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1709550005187\"><strong class=\"schema-faq-question\">What is the current IDBI Education Loan Interest Rate?<\/strong> <p class=\"schema-faq-answer\">IDBI education loan interest rate ranges between 10% to 12%. However, this may vary depending on the loan amount, type of loan, type of interest rate etc.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1709550015192\"><strong class=\"schema-faq-question\">How is the interest on IDBI Education Loans calculated?<\/strong> <p class=\"schema-faq-answer\">The interest rate is calculated based on the repo-linked lending rate (RLLR) + the basic points (BPS) determined by the bank.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1709550172909\"><strong class=\"schema-faq-question\">Are there any special interest rate concessions available for certain categories of borrowers?<\/strong> <p class=\"schema-faq-answer\">All the female students will get a rebate of 50 bps. The existing bank customers, physically challenged and students belonging to the SC\/ST category will get a rebate of 25 bps on the interest rate.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1709550182593\"><strong class=\"schema-faq-question\">Can I choose between fixed and floating interest rates for an IDBI Education Loan?<\/strong> <p class=\"schema-faq-answer\">IDBI Bank may provide both fixed and floating interest rate options for education loans. Borrowers can choose the type of interest rate based on their preferences and financial planning.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1709550191943\"><strong class=\"schema-faq-question\">Is there any provision for availing a reduction in interest rates for early repayment of IDBI Education Loans?<\/strong> <p class=\"schema-faq-answer\">IDBI Bank may have provisions for reducing interest rates on education loans if the borrower opts for early repayment.\u00a0<\/p> <\/div> <\/div>\n\n\n\n<p>This was all about the IDBI education loan interest rate. It is very important to understand the specific terms and conditions related to education loan interest rates. To know more about <a href=\"https:\/\/fly.finance\/blog\/education-loan\/\"><strong>education loans<\/strong><\/a>, the best <a href=\"https:\/\/fly.finance\/blog\/student-account\/\"><strong>bank accounts for students<\/strong><\/a>, forex and banking experience for global students or <a href=\"https:\/\/fly.finance\/blog\/money-transfer\/\"><strong>international money transfers<\/strong><\/a>, reach out to our experts at 1800572126 to help ease your study abroad experience.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-pale-ocean-gradient-background has-background\"><tbody><tr><td><strong>Recommended Blogs<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/money-transfer\/best-banks-in-india-for-inward-remittance\/\"><strong>Best Bank in India for Inward Remittance<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/idfc-first-bank-education-loan-disbursement\/\"><strong>IDFC First Bank Education Loan Disbursement Process<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/money-transfer\/bank-of-baroda-forex-card\/\"><strong>Bank of Baroda Forex Card for Students<\/strong><\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Follow Us on Social Media <\/strong><\/p>\n\n\n\n<ul class=\"wp-block-social-links is-layout-flex wp-block-social-links-is-layout-flex\"><li class=\"wp-social-link wp-social-link-instagram  wp-block-social-link\"><a href=\"https:\/\/instagram.com\/flydotfinance\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M12,4.622c2.403,0,2.688,0.009,3.637,0.052c0.877,0.04,1.354,0.187,1.671,0.31c0.42,0.163,0.72,0.358,1.035,0.673 c0.315,0.315,0.51,0.615,0.673,1.035c0.123,0.317,0.27,0.794,0.31,1.671c0.043,0.949,0.052,1.234,0.052,3.637 s-0.009,2.688-0.052,3.637c-0.04,0.877-0.187,1.354-0.31,1.671c-0.163,0.42-0.358,0.72-0.673,1.035 c-0.315,0.315-0.615,0.51-1.035,0.673c-0.317,0.123-0.794,0.27-1.671,0.31c-0.949,0.043-1.233,0.052-3.637,0.052 s-2.688-0.009-3.637-0.052c-0.877-0.04-1.354-0.187-1.671-0.31c-0.42-0.163-0.72-0.358-1.035-0.673 c-0.315-0.315-0.51-0.615-0.673-1.035c-0.123-0.317-0.27-0.794-0.31-1.671C4.631,14.688,4.622,14.403,4.622,12 s0.009-2.688,0.052-3.637c0.04-0.877,0.187-1.354,0.31-1.671c0.163-0.42,0.358-0.72,0.673-1.035 c0.315-0.315,0.615-0.51,1.035-0.673c0.317-0.123,0.794-0.27,1.671-0.31C9.312,4.631,9.597,4.622,12,4.622 M12,3 C9.556,3,9.249,3.01,8.289,3.054C7.331,3.098,6.677,3.25,6.105,3.472C5.513,3.702,5.011,4.01,4.511,4.511 c-0.5,0.5-0.808,1.002-1.038,1.594C3.25,6.677,3.098,7.331,3.054,8.289C3.01,9.249,3,9.556,3,12c0,2.444,0.01,2.751,0.054,3.711 c0.044,0.958,0.196,1.612,0.418,2.185c0.23,0.592,0.538,1.094,1.038,1.594c0.5,0.5,1.002,0.808,1.594,1.038 c0.572,0.222,1.227,0.375,2.185,0.418C9.249,20.99,9.556,21,12,21s2.751-0.01,3.711-0.054c0.958-0.044,1.612-0.196,2.185-0.418 c0.592-0.23,1.094-0.538,1.594-1.038c0.5-0.5,0.808-1.002,1.038-1.594c0.222-0.572,0.375-1.227,0.418-2.185 C20.99,14.751,21,14.444,21,12s-0.01-2.751-0.054-3.711c-0.044-0.958-0.196-1.612-0.418-2.185c-0.23-0.592-0.538-1.094-1.038-1.594 c-0.5-0.5-1.002-0.808-1.594-1.038c-0.572-0.222-1.227-0.375-2.185-0.418C14.751,3.01,14.444,3,12,3L12,3z M12,7.378 c-2.552,0-4.622,2.069-4.622,4.622S9.448,16.622,12,16.622s4.622-2.069,4.622-4.622S14.552,7.378,12,7.378z M12,15 c-1.657,0-3-1.343-3-3s1.343-3,3-3s3,1.343,3,3S13.657,15,12,15z M16.804,6.116c-0.596,0-1.08,0.484-1.08,1.08 s0.484,1.08,1.08,1.08c0.596,0,1.08-0.484,1.08-1.08S17.401,6.116,16.804,6.116z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Instagram<\/span><\/a><\/li>\n\n<li class=\"wp-social-link wp-social-link-linkedin  wp-block-social-link\"><a href=\"https:\/\/www.linkedin.com\/company\/flyfinance\/\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M19.7,3H4.3C3.582,3,3,3.582,3,4.3v15.4C3,20.418,3.582,21,4.3,21h15.4c0.718,0,1.3-0.582,1.3-1.3V4.3 C21,3.582,20.418,3,19.7,3z M8.339,18.338H5.667v-8.59h2.672V18.338z M7.004,8.574c-0.857,0-1.549-0.694-1.549-1.548 c0-0.855,0.691-1.548,1.549-1.548c0.854,0,1.547,0.694,1.547,1.548C8.551,7.881,7.858,8.574,7.004,8.574z M18.339,18.338h-2.669 v-4.177c0-0.996-0.017-2.278-1.387-2.278c-1.389,0-1.601,1.086-1.601,2.206v4.249h-2.667v-8.59h2.559v1.174h0.037 c0.356-0.675,1.227-1.387,2.526-1.387c2.703,0,3.203,1.779,3.203,4.092V18.338z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">LinkedIn<\/span><\/a><\/li>\n\n<li class=\"wp-social-link wp-social-link-twitter  wp-block-social-link\"><a href=\"https:\/\/twitter.com\/flydotfinance\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M22.23,5.924c-0.736,0.326-1.527,0.547-2.357,0.646c0.847-0.508,1.498-1.312,1.804-2.27 c-0.793,0.47-1.671,0.812-2.606,0.996C18.324,4.498,17.257,4,16.077,4c-2.266,0-4.103,1.837-4.103,4.103 c0,0.322,0.036,0.635,0.106,0.935C8.67,8.867,5.647,7.234,3.623,4.751C3.27,5.357,3.067,6.062,3.067,6.814 c0,1.424,0.724,2.679,1.825,3.415c-0.673-0.021-1.305-0.206-1.859-0.513c0,0.017,0,0.034,0,0.052c0,1.988,1.414,3.647,3.292,4.023 c-0.344,0.094-0.707,0.144-1.081,0.144c-0.264,0-0.521-0.026-0.772-0.074c0.522,1.63,2.038,2.816,3.833,2.85 c-1.404,1.1-3.174,1.756-5.096,1.756c-0.331,0-0.658-0.019-0.979-0.057c1.816,1.164,3.973,1.843,6.29,1.843 c7.547,0,11.675-6.252,11.675-11.675c0-0.178-0.004-0.355-0.012-0.531C20.985,7.47,21.68,6.747,22.23,5.924z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Twitter<\/span><\/a><\/li>\n\n<li class=\"wp-social-link wp-social-link-facebook  wp-block-social-link\"><a href=\"https:\/\/www.facebook.com\/Flydotfinance\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M12 2C6.5 2 2 6.5 2 12c0 5 3.7 9.1 8.4 9.9v-7H7.9V12h2.5V9.8c0-2.5 1.5-3.9 3.8-3.9 1.1 0 2.2.2 2.2.2v2.5h-1.3c-1.2 0-1.6.8-1.6 1.6V12h2.8l-.4 2.9h-2.3v7C18.3 21.1 22 17 22 12c0-5.5-4.5-10-10-10z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Facebook<\/span><\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>IDBI (Industrial Development Bank of India) is one of the leading banks in India and a preferred choice for education loans to study abroad. The bank offers education loans on interest rates ranging from 10% to 12% subject to eligibility criteria and the bank\u2019s internal policy. IDBI bank is one of the associated banks with &#8230; <a title=\"IDBI Education Loan Interest Rate: Calculation, Discounts\" class=\"read-more\" href=\"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/\" aria-label=\"Read more about IDBI Education Loan Interest Rate: Calculation, Discounts\">Read more<\/a><\/p>\n","protected":false},"author":24,"featured_media":10595,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-10589","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>IDBI Education Loan Interest Rate: Calculation, Discounts<\/title>\n<meta name=\"description\" content=\"This blog includes the details about the IDBI Education Loan Interest Rate. To know more about it read the blog.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IDBI Education Loan Interest Rate: Calculation, Discounts\" \/>\n<meta property=\"og:description\" content=\"This blog includes the details about the IDBI Education Loan Interest Rate. To know more about it read the blog.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/\" \/>\n<meta property=\"og:site_name\" content=\"Fly Finance\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-28T11:04:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-04T11:18:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/flyblog.s3.ap-south-1.amazonaws.com\/wp-content\/uploads\/2024\/02\/04164747\/IDBI-Education-Loan-Interest-Rate-1.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Shekhar Suman\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shekhar Suman\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"IDBI Education Loan Interest Rate: Calculation, Discounts","description":"This blog includes the details about the IDBI Education Loan Interest Rate. To know more about it read the blog.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/","og_locale":"en_US","og_type":"article","og_title":"IDBI Education Loan Interest Rate: Calculation, Discounts","og_description":"This blog includes the details about the IDBI Education Loan Interest Rate. To know more about it read the blog.","og_url":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/","og_site_name":"Fly Finance","article_published_time":"2024-02-28T11:04:25+00:00","article_modified_time":"2024-03-04T11:18:11+00:00","og_image":[{"width":1024,"height":640,"url":"https:\/\/flyblog.s3.ap-south-1.amazonaws.com\/wp-content\/uploads\/2024\/02\/04164747\/IDBI-Education-Loan-Interest-Rate-1.webp","type":"image\/webp"}],"author":"Shekhar Suman","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Shekhar Suman","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#article","isPartOf":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/"},"author":{"name":"Shekhar Suman","@id":"https:\/\/fly.finance\/blog\/#\/schema\/person\/fed86910ad7a5396db3f509f7f6f2e48"},"headline":"IDBI Education Loan Interest Rate: Calculation, Discounts","datePublished":"2024-02-28T11:04:25+00:00","dateModified":"2024-03-04T11:18:11+00:00","mainEntityOfPage":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/"},"wordCount":960,"commentCount":0,"publisher":{"@id":"https:\/\/fly.finance\/blog\/#organization"},"image":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#primaryimage"},"thumbnailUrl":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2024\/02\/04164747\/IDBI-Education-Loan-Interest-Rate-1.webp","articleSection":["Education Loan"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#respond"]}],"accessibilityFeature":["tableOfContents"]},{"@type":["WebPage","FAQPage"],"@id":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/","url":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/","name":"IDBI Education Loan Interest Rate: Calculation, Discounts","isPartOf":{"@id":"https:\/\/fly.finance\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#primaryimage"},"image":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#primaryimage"},"thumbnailUrl":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2024\/02\/04164747\/IDBI-Education-Loan-Interest-Rate-1.webp","datePublished":"2024-02-28T11:04:25+00:00","dateModified":"2024-03-04T11:18:11+00:00","description":"This blog includes the details about the IDBI Education Loan Interest Rate. To know more about it read the blog.","breadcrumb":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#breadcrumb"},"mainEntity":[{"@id":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#faq-question-1709550005187"},{"@id":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#faq-question-1709550015192"},{"@id":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#faq-question-1709550172909"},{"@id":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#faq-question-1709550182593"},{"@id":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#faq-question-1709550191943"}],"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#primaryimage","url":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2024\/02\/04164747\/IDBI-Education-Loan-Interest-Rate-1.webp","contentUrl":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2024\/02\/04164747\/IDBI-Education-Loan-Interest-Rate-1.webp","width":1024,"height":640,"caption":"IDBI Education Loan Interest Rate"},{"@type":"BreadcrumbList","@id":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fly.finance\/blog\/"},{"@type":"ListItem","position":2,"name":"Education Loan","item":"https:\/\/fly.finance\/blog\/category\/education-loan\/"},{"@type":"ListItem","position":3,"name":"IDBI Education Loan Interest Rate: Calculation, Discounts"}]},{"@type":"WebSite","@id":"https:\/\/fly.finance\/blog\/#website","url":"https:\/\/fly.finance\/blog\/","name":"Fly Finance","description":"Explore blogs related to Education Loan, Student Bank Account, International Money Transfer, Scholarships along with latest news at Fly Finance.","publisher":{"@id":"https:\/\/fly.finance\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fly.finance\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/fly.finance\/blog\/#organization","name":"Fly Finance","url":"https:\/\/fly.finance\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fly.finance\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2024\/01\/29151141\/Fly-Finance-Logo-1.webp","contentUrl":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2024\/01\/29151141\/Fly-Finance-Logo-1.webp","width":1080,"height":1080,"caption":"Fly Finance"},"image":{"@id":"https:\/\/fly.finance\/blog\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/fly.finance\/blog\/#\/schema\/person\/fed86910ad7a5396db3f509f7f6f2e48","name":"Shekhar Suman","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/f364ae9617b8586195ccc6e5aff93f87f3a2072d38861c2f686c4a2a55b25de5?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/f364ae9617b8586195ccc6e5aff93f87f3a2072d38861c2f686c4a2a55b25de5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f364ae9617b8586195ccc6e5aff93f87f3a2072d38861c2f686c4a2a55b25de5?s=96&d=mm&r=g","caption":"Shekhar Suman"},"description":"Shekhar is a versatile writer with a passion for sharing knowledge and creativity. With expertise in crafting informative blogs on study abroad and finance, Shekhar helps readers navigate the complexities of education and financial planning. Most of his writings blend the practicality of finance and the beauty of language, making a meaningful impact in both spheres. Beyond his professional pursuits, he finds solace in the writing Shayari.","sameAs":["https:\/\/in.linkedin.com\/in\/thahankmoody","https:\/\/www.tumblr.com\/blog\/dhanlabh"],"url":"https:\/\/fly.finance\/blog\/author\/shekhar\/"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#faq-question-1709550005187","position":1,"url":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#faq-question-1709550005187","name":"What is the current IDBI Education Loan Interest Rate?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"IDBI education loan interest rate ranges between 10% to 12%. However, this may vary depending on the loan amount, type of loan, type of interest rate etc.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#faq-question-1709550015192","position":2,"url":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#faq-question-1709550015192","name":"How is the interest on IDBI Education Loans calculated?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The interest rate is calculated based on the repo-linked lending rate (RLLR) + the basic points (BPS) determined by the bank.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#faq-question-1709550172909","position":3,"url":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#faq-question-1709550172909","name":"Are there any special interest rate concessions available for certain categories of borrowers?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"All the female students will get a rebate of 50 bps. The existing bank customers, physically challenged and students belonging to the SC\/ST category will get a rebate of 25 bps on the interest rate.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#faq-question-1709550182593","position":4,"url":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#faq-question-1709550182593","name":"Can I choose between fixed and floating interest rates for an IDBI Education Loan?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"IDBI Bank may provide both fixed and floating interest rate options for education loans. Borrowers can choose the type of interest rate based on their preferences and financial planning.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#faq-question-1709550191943","position":5,"url":"https:\/\/fly.finance\/blog\/education-loan\/idbi-education-loan-interest-rate\/#faq-question-1709550191943","name":"Is there any provision for availing a reduction in interest rates for early repayment of IDBI Education Loans?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"IDBI Bank may have provisions for reducing interest rates on education loans if the borrower opts for early repayment.\u00a0","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/10589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/comments?post=10589"}],"version-history":[{"count":3,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/10589\/revisions"}],"predecessor-version":[{"id":10594,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/10589\/revisions\/10594"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media\/10595"}],"wp:attachment":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media?parent=10589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/categories?post=10589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/tags?post=10589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}