{"id":10856,"date":"2024-03-06T12:07:20","date_gmt":"2024-03-06T06:37:20","guid":{"rendered":"https:\/\/fly.finance\/blog\/?p=10856"},"modified":"2024-06-07T11:49:59","modified_gmt":"2024-06-07T06:19:59","slug":"federal-bank-education-loan-interest-rate","status":"publish","type":"post","link":"https:\/\/fly.finance\/blog\/education-loan\/federal-bank-education-loan-interest-rate\/","title":{"rendered":"Federal Bank Education Loan Interest Rate"},"content":{"rendered":"\n<p>Federal Bank is an Indian private sector bank that aims to provide education loans under various schemes like Federal Special Vidya Loan and Fed Scholars. However, education loans to study abroad are offered under the Federal Special Vidya Loan category. The bank provides financial assistance of up to INR 20 lakhs to study-abroad aspirants at interest rates ranging from 10.72% to 15.32%. Interest rates are subject to change from time to time as the bank provides floating rates education loans.&nbsp;<\/p>\n\n\n\n<p>Let\u2019s have a look at Federal Bank education loan interest rates in detail.<\/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-federal-bank-education-loan-interest-rate\" data-level=\"2\">Federal Bank Education Loan Interest Rate<\/a><ul><li><a href=\"#h-federal-bank-interest-rates-calculation-nbsp\" data-level=\"3\">Federal Bank Interest Rates Calculation&nbsp;<\/a><\/li><\/ul><\/li><li><a href=\"#h-factors-affecting-education-loan-interest-rates\" data-level=\"2\">Factors Affecting Education Loan Interest Rates<\/a><\/li><li><a href=\"#h-more-about-federal-bank-education-loans\" data-level=\"2\">More about Federal Bank Education Loans<\/a><\/li><li><a href=\"#h-faqs\" data-level=\"2\">FAQs<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-federal-bank-education-loan-interest-rate\"><span id=\"federal-bank-education-loan-interest-rate\">Federal Bank Education Loan Interest Rate<\/span><\/h2>\n\n\n\n<p><a href=\"https:\/\/fly.finance\/blog\/education-loan\/federal-bank-education-loan-for-studying-abroad-interest-rate-process-requirements\/\"><strong>Federal Bank education loan<\/strong><\/a> interest rates range from 10.72% to 15.32%. The interest rate varies based on the amount of loan taken, collateral security mortgaged, creditworthiness, and many other factors.&nbsp;<\/p>\n\n\n\n<p>Federal Bank provides education loans at <strong>floating rate of interest which are subject to revisions every quarter<\/strong>. The interest rates are directly linked to the RBI&#8217;s repo rate.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>As per the official website of the Federal Bank, the effective interest rate on education loans is <strong>12.55% (Repo-rate+ 6.05%) onwards<\/strong>.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Recommended Read: Planning to take an education loan from Karnataka Bank? Check out all the details about <\/strong><a href=\"https:\/\/fly.finance\/blog\/education-loan\/karnataka-bank-education-loan-interest-rate\/\"><strong>Karnataka Bank education loan interest rates<\/strong><\/a><strong>.&nbsp;<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-federal-bank-interest-rates-calculation-nbsp\"><span id=\"federal-bank-interest-rates-calculation\">Federal Bank Interest Rates Calculation&nbsp;<\/span><\/h3>\n\n\n\n<p>The interest rates are calculated based on the bank\u2019s MCLR (Marginal Cost of funds-based Lending Rate) and adding the Spread to it.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Education Loan Interest Rate =&nbsp; MCLR + Spread<\/strong><\/li>\n<\/ul>\n\n\n\n<p>MCLR is the minimum interest rate which is computed by taking operating costs and tenor premium. Spread is the difference between the lending rate and the deposit rate of the banks. It is decided in consideration of their internal policy and RBI guidelines.&nbsp;<\/p>\n\n\n\n<p>However, the federal bank education loan interest rates are calculated as the sum of the repo rate and the spread. As a result, the effective interest rate is 12.55% as the current repo rate is 6.50% and the bank\u2019s spread is 6.05%.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-factors-affecting-education-loan-interest-rates\"><span id=\"factors-affecting-education-loan-interest-rates\">Factors Affecting Education Loan Interest Rates<\/span><\/h2>\n\n\n\n<p>An individual taking a study-abroad education loan might wonder about differences in interest rates. This is true as <a href=\"https:\/\/fly.finance\/blog\/education-loan\/education-loan-interest-rates\/\"><strong>education loan interest rates<\/strong><\/a> vary based on different factors. These include the amount of loan taken, university\/ course chosen, collateral pledged, repayment period and most importantly creditworthiness of the applicant.&nbsp;<\/p>\n\n\n\n<p>Let\u2019s find out how these factors affect interest rates.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The amount of loan taken significantly decides the education loan interest rates. A higher amount of loan taken for a longer period of time means higher risk for the lender. Thus, interest rates are high.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The course and country chosen also decide interest rates. Countries and courses that have higher chances of employment and better career prospects allow lenders to provide discounts on education loan interest rates.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Another factor is the creditworthiness of the applicant\/ co-applicant. If they have an excellent credit score, banks provide lower interest rates. This is because banks feel confident about timely payments.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Collateral-free education loans have high-interest rates as pleading security with the lender reduces their risk.&nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Education loan interest rates are also influenced by the economic conditions in the country. Political instability and inflation can lead to higher interest rates on education loans.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Recommended Read: RBI lays important guidelines for aspiring students planning to study abroad. Read out this blog to find out more about <\/strong><a href=\"https:\/\/fly.finance\/blog\/education-loan\/rbi-guidelines-for-education-loan\/\"><strong>RBI guidelines for education loans<\/strong><\/a><strong>.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-more-about-federal-bank-education-loans\"><span id=\"more-about-federal-bank-education-loans\">More about Federal Bank Education Loans<\/span><\/h2>\n\n\n\n<p>In this section, we will brief you about Federal Bank education loans to study abroad. Students can easily apply through the <a href=\"https:\/\/fly.finance\/blog\/education-loan\/vidya-lakshmi-education-loan-federal-bank\/\"><strong>Vidya Lakshmi Portal from Federal Bank<\/strong><\/a>. Loans can availed under the Federal Special Vidya Loan Scheme. The maximum amount provided by the banks is INR 20 lakhs.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td>Quantum of Finance<\/td><td>Up to INR 20 lakhs<\/td><\/tr><tr><td>Interest Rates<\/td><td>10.72% to 15.32%; <strong>12.55% (Present)<\/strong><\/td><\/tr><tr><td>Repayment Period<\/td><td>The moratorium period+ 15 years<\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/what-is-moratorium-period-and-how-does-it-work\/\"><strong>Moratorium Period<\/strong><\/a><\/td><td>course period + one year<\/td><\/tr><tr><td>Collateral&nbsp;<\/td><td>Up to INR 4 lakhs- NIL<br>INR 4 lakhs to 7.5 lakhs- guarantor&nbsp; required<br>Above INR 4 lakhs- Security required&nbsp;<\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/margin-money-in-education-loans\/\"><strong>Margin Money<\/strong><\/a><\/td><td>Up to INR 4 lakhs- No Margin is applicable<br>For Studies Abroad above Rs 4 Lakhs &#8211; 15%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs\"><span id=\"faqs\">FAQs<\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1710224845138\"><strong class=\"schema-faq-question\"><strong>What is the Federal Bank education loan interest rate?<\/strong><\/strong> <p class=\"schema-faq-answer\">The Federal Bank Education Loan interest rates range from <strong>10.72% to 15.32%<\/strong> p.a. Education loans are provided at floating rates which are subject to revision every quarter.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1710224846465\"><strong class=\"schema-faq-question\"><strong>What is the current interest rate on Federal bank education loans?\u00a0<\/strong><\/strong> <p class=\"schema-faq-answer\">As per the official website of the Federal Bank, the effective interest rate on education loans is <strong>12.55% (Repo-rate+ 6.05%) onwards<\/strong>.\u00a0<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1710224847583\"><strong class=\"schema-faq-question\"><strong>Can I choose between fixed and floating interest rates for a Federal Bank education loan?<\/strong><\/strong> <p class=\"schema-faq-answer\">Federal Bank provides education loans at floating interest rates, which are subject to revision every quarter. An applicant can\u2019t avail of education loans at fixed interest rates from the Federal Bank.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1710224848733\"><strong class=\"schema-faq-question\"><strong>How are Federal Bank Education loans calculated?<\/strong><\/strong> <p class=\"schema-faq-answer\">The federal bank education loan interest rates are calculated as the sum of the repo rate and the spread<strong>. <\/strong>As a result, the effective interest rate is 12.55% as the current repo rate is 6.50% and the bank\u2019s spread is 6.05%.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1710224850168\"><strong class=\"schema-faq-question\"><strong>What are the factors affecting education loan interest rates?<\/strong><\/strong> <p class=\"schema-faq-answer\">Factors that affect education loan interest rates are loan amount and tenure, choice of country and course, credit score, collateral provided, and economic conditions.<\/p> <\/div> <\/div>\n\n\n\n<p>This was all about the Federal Bank&#8217;s education loan interest rates. Make sure to compare the interest rates provided by different lenders and then apply for education loans.&nbsp;<\/p>\n\n\n\n<p>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>Related Blogs<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/inflation-and-its-effects-on-education-loans\/\"><strong>Inflation and its Affect on Education Loan<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/collateral-free-education-loan-for-usa\/\"><strong>How to Get Collateral Free Education Loan for USA<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/money-transfer\/best-forex-cards-to-use-in-australia\/\"><strong>Best Forex Card to Use in Australia<\/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 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However, education loans to study abroad are offered under the Federal Special Vidya Loan category. The bank provides financial assistance of up to INR 20 lakhs to study-abroad aspirants at &#8230; <a title=\"Federal Bank Education Loan Interest Rate\" class=\"read-more\" href=\"https:\/\/fly.finance\/blog\/education-loan\/federal-bank-education-loan-interest-rate\/\" aria-label=\"Read more about Federal Bank Education Loan Interest Rate\">Read more<\/a><\/p>\n","protected":false},"author":29,"featured_media":10857,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-10856","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 v27.5 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Federal Bank Education Loan Interest Rate<\/title>\n<meta name=\"description\" content=\"Check all about Federal Bank Education Loan Interest Rate here. 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Know the calculation process and factors affecting the interest on loan.","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\/federal-bank-education-loan-interest-rate\/","og_locale":"en_US","og_type":"article","og_title":"Federal Bank Education Loan Interest Rate","og_description":"Check all about Federal Bank Education Loan Interest Rate here. 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I'm Shubhika- a proud graduate in English Literature and Language from Delhi University. My journey as a content writer transitioned from online teacher into the world of words. Stepping into the domain of blogs and articles, I discovered my passion for writing growing deeper and stronger. Having said that, I have experience of writing for diverse industries in automobile, technology, ed-tech, finance and mental-health; crafting details to help you find the solution to what you are looking for. Join me as I invite you all explore and learn together.","sameAs":["https:\/\/www.facebook.com\/shubhika.garg\/","https:\/\/www.instagram.com\/shubhika.garg\/","https:\/\/www.linkedin.com\/in\/shubhikagarg71\/","https:\/\/www.tumblr.com\/blog\/shubhikahere"],"url":"https:\/\/fly.finance\/blog\/author\/shubhika\/"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/federal-bank-education-loan-interest-rate\/#faq-question-1710224845138","position":1,"url":"https:\/\/fly.finance\/blog\/education-loan\/federal-bank-education-loan-interest-rate\/#faq-question-1710224845138","name":"What is the Federal Bank education loan interest rate?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The Federal Bank Education Loan interest rates range from <strong>10.72% to 15.32%<\/strong> p.a. Education loans are provided at floating rates which are subject to revision every quarter.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/federal-bank-education-loan-interest-rate\/#faq-question-1710224846465","position":2,"url":"https:\/\/fly.finance\/blog\/education-loan\/federal-bank-education-loan-interest-rate\/#faq-question-1710224846465","name":"What is the current interest rate on Federal bank education loans?\u00a0","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"As per the official website of the Federal Bank, the effective interest rate on education loans is <strong>12.55% (Repo-rate+ 6.05%) onwards<\/strong>.\u00a0","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/federal-bank-education-loan-interest-rate\/#faq-question-1710224847583","position":3,"url":"https:\/\/fly.finance\/blog\/education-loan\/federal-bank-education-loan-interest-rate\/#faq-question-1710224847583","name":"Can I choose between fixed and floating interest rates for a Federal Bank education loan?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Federal Bank provides education loans at floating interest rates, which are subject to revision every quarter. An applicant can\u2019t avail of education loans at fixed interest rates from the Federal Bank.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/federal-bank-education-loan-interest-rate\/#faq-question-1710224848733","position":4,"url":"https:\/\/fly.finance\/blog\/education-loan\/federal-bank-education-loan-interest-rate\/#faq-question-1710224848733","name":"How are Federal Bank Education loans calculated?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The federal bank education loan interest rates are calculated as the sum of the repo rate and the spread<strong>. <\/strong>As a result, the effective interest rate is 12.55% as the current repo rate is 6.50% and the bank\u2019s spread is 6.05%.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/federal-bank-education-loan-interest-rate\/#faq-question-1710224850168","position":5,"url":"https:\/\/fly.finance\/blog\/education-loan\/federal-bank-education-loan-interest-rate\/#faq-question-1710224850168","name":"What are the factors affecting education loan interest rates?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Factors that affect education loan interest rates are loan amount and tenure, choice of country and course, credit score, collateral provided, and economic conditions.","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/10856","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\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/comments?post=10856"}],"version-history":[{"count":3,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/10856\/revisions"}],"predecessor-version":[{"id":12920,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/10856\/revisions\/12920"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media\/10857"}],"wp:attachment":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media?parent=10856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/categories?post=10856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/tags?post=10856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}