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new Delhi10 minutes ago
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Students or their parents can take education loan from banks for children’s graduation, post graduation or professional course.
- SBI is offering loans up to 40 lakhs at 8.85% interest rate
- Indian Bank is offering loans up to 25 lakhs at 8.60% interest rate.
The Corona epidemic has adversely affected the income of many people. Due to this, many people are also facing difficulty in affording higher education fees. If you are also facing such problem then you can complete your studies by taking education loan. There are many banks including State Bank of India (SBI) and Indian Bank which provide education loans at the cheapest rates not only for studying in the country but also for studying abroad. Let us know how much education loan can be taken from which bank and at what interest rate.
This includes all expenses related to studies.
Students or their parents can take education loan from banks for children’s graduation, post graduation or professional course. The condition here is that the educational institution must be recognized by the government. It is easy to take an education loan from the bank where you already have an account. The education loan covers college, hostel, library, purchase of computers for studies as well as travel expenses in the case of international education.
Know which bank is offering loans at what interest rate
|Bank||Rate of interest (%)||Loan amount for studies in India||Loan amount for studying abroad||Loan amount for IIT, IIM, ISB courses||Period|
|SB I||8.85 to 10.00||10 million||2 million||40 million||10-12 years|
|Axis Bank||13.70||75 lakhs||75 lakhs||75 lakhs||7 years|
|IDBI Bank||9.50||10 million||2 million||10 million||10 to 15 years|
|Canara Bank||9.95||10 million||2 million||2 million||10 to 15 years|
|Uco bank||10.65||10 million||2 million||10 million||10 to 15 years|
|Punjab National Bank||8.45 to 10.45||10 million||2 million||1.5 million||10 to 15 years|
|Indian Bank||8.60 to 10.60||1.5 million||2.5 million||10 million||7 years|
|Bank of baroda||8.40 to 9.15||8 million||8 million||8 million||10 to 15 years|
|Central bank||10 to 10.10||10 million||2 million||2 million||10 to 15 years|