Machhapuchchhre Bank Education Loan interest rate 2083
Machhapuchchhre Bank's education loan is priced at 5.96%–7.96% effective in Bhadra 2083: a 4.96% base rate plus a 1%–3% premium. That ranks 5th cheapest of the 18 commercial banks we track for this product. On Rs. 10 Lakh over 60 months the EMI is about Rs. 19,314, plus a 0.5% processing fee.
- Effective rate
- 5.96% – 7.96%
- Base rate
- 4.96%
- Premium
- 1% – 3%
- Processing fee
- 0.5%
- Maximum tenure
- 180 months
- Maximum loan-to-value
- 80%
- Rank by rate
- 5 / 18
- Rates effective
- Bhadra 2083
Effective from: 1 Bhadra 2083Source: www.machbank.com/loan-interest-rate/
Machhapuchchhre Bank Education Loan: effective rate 5.96%, EMI from Rs. 19,314 per month. Compare with 17 other banks.
Rate breakdown
Base rate
4.96%
Premium
1%–3%
Effective rate
5.96%–7.96%
Fixed
Not published
- Processing fee
- 0.5% (Min Rs. 1,000)
- Prepayment penalty
- 1.57%
- Loan amount
- Rs. 2 Lakh – Rs. 1 Cr
- Tenure
- 12 – 180 months
- Max financing
- 80%
- Age
- 21 – 40 years
Highlights
- Nepal and abroad study
- Moratorium during study
- Covers tuition, living and travel
Who is eligible
Admission letter and fee structure required. Parent or guardian as co-borrower.
Documents you will need
- Citizenship certificate (copy)
- 2 passport-size photos
- Latest 6 months bank statement
- PAN card
- Admission letter
- Fee structure
- Passport (for abroad)
Machhapuchchhre Bank Education Loan FAQ
What is Machhapuchchhre Bank's current Education Loan interest rate?+
Machhapuchchhre Bank's Education Loan floating rate is base rate 4.96% plus a premium of 1% to 3%, giving 5.96% to 7.96% effective from Bhadra 2083.
What is the EMI on a Rs. 10 Lakh Education Loan from Machhapuchchhre Bank?+
At 5.96% over 60 months, the EMI is roughly Rs. 19,314. Use the calculator above to change the amount or tenure.
Can I prepay a Machhapuchchhre Bank Education Loan?+
Yes. The published prepayment charge is 1.57% of the outstanding balance. Confirm with the branch, as some banks waive it after a minimum period.
