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The education loans are nothing but study loans. Studying abroad is a life-changing decision and you should be prepared both financially and mentally to pursue studies abroad. The leading banks of the country offer education loans to students who are willing to study abroad. Education loans are also available for schools and for studying in the country.
The best banks providing education loans are
Maximum loan - Rs 20 lakhs
|
Scheme |
Rate of Interest |
|
Education Loan for Indian Education |
9.25% to 13.68% |
|
Education Loan for Foreign Education |
9.25% to 13.68% |
Repayment period of 15 years
Moratorium interest of 4%
1% processing fee
Maximum limit - Rs. 75 lakhs
|
Education loan amount |
Rate of Interest |
|
Up to Rs. 4 Lakhs |
15.20% |
|
Above Rs. 4 Lakhs to Rs. 7.5 Lakhs |
14.70% |
|
Above Rs. 7.5 Lakhs |
13.70% |
High-interest rate
15 % margin above 4 lakhs
24% pa penal interest
Union Bank of India Education loan
- Education loan for courses in India and anywhere
- Education loan for Kisan Shiksha Suvidha
- Education loan for Premier Management & Technical institutions in
- IndiaEducation loan for Tier II Management & Technical institutions in India
|
Education loan scheme |
Rate of Interest |
|
Courses in India and abroad |
up to 10.05% depending on the quantum of the loan |
|
For Kisan Shiksha Suvidha |
up to 10.05% depending on the quantum of the loan |
|
For Premier Management & Technical institutions in IndiaSkill Development Courses |
6.80% |
|
For Tier II Management & Technical institutions in India |
8.55% |
No processing fees
Lower interest rates
As we can see, above are some banks that provide study loans easily.