What’s the interest rate for this loan scheme?

Question

Arun Bajaj · Accepted Answer

The interest rate is set according to RBI (Reserve Bank of India) guidelines. Some schemes offer a fixed rate, like 4% per year for the first year and 9% per year for the rest of the loan period. If you're from an economically weaker background, you might even get a 100% subsidy on the interest under certain schemes!

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