u/Lower_Competition_61

my_qualifications btech

Guys, I am planning for masters in usa in a top 10 uni and looking for an education loan. I saw reviews that nbfc's ,even though they provide loans at 10% ir they will increase it abnormally as the interest rate is floating and also it is compound or partial interest.

Even in private sector banks like icici, idfc the interest rate is partial interest. Public sector banks with less interest rate like sbi, gives only 50l for non collateral loans.

Do private banks also increase interest rate abnormally like nbfc's after we take the loan?

Are there any banks or nbfc's which provide fixed interest rate and simple interest ?

I see that insurance is an mandatory part, but are there any banks with no insurance required?