| Education Loan Schemes | Interest Rate (p.a.) | Loan Amount |
|---|---|---|
| Axis | 13.70% to 15.20% | Up to 7.5 Lakh |
| Bank of Baroda | 6.75% to 9.85% | Up to 4 Lakh and above |
| HDFC | 9.45% to 13.34% | Max Apr |
| Tata Capital | 10.99% onwards | Up to 30 Lakh |
Which bank is best for education loan with low interest rate?
Hence, taking this into consideration we have listed here the top 10 banks that are currently offering the cheapest rates on education loans starting from 6.8% only.
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Education Loan Interest Rates.
| Sr No. | Banks | ROI in % |
|---|---|---|
| 1 | Union Bank of India | 6.80 |
| 2 | Central Bank of India | 6.85 |
| 3 | Bank of India | 6.85 |
| 4 | Bank of Baroda | 6.85 |
Which bank is best for educational loan?
5 Best education loan banks in India
- Benefits of SBI education loans.
- SBI Education Loan Interest Rates.
- Benefits of Axis Bank Education Loan.
- Axis Bank Education Loan Interest Rates.
- Benefits of HDFC education loan.
- HDFC education loan interest rates.
- Benefits of PNB education loan.
- Benefits of Canara Bank Education Loan.
Is education loan interest free in India?
However, can education loans in India be actually interest-free? The answer is no. Or at least, technically so. Unless you have availed some economic benefits or academic subsidies from either the government or your institution.
Can I get 20 lakhs education loan?
Collateral Required for Education Loan
According to RBI, the maximum amount eligible for a study loan for courses in India is Rs. 10 lakhs while for studying abroad, it is Rs. 20 lakhs.
Can I get 50 lakhs education loan?
The monthly installments on an education loan of 50 lakhs works out at least to 50,000-60,000. … With loan amount collateral value almost equals the loan amount . Generally taking loan more than 7-8 lakhs the bank asks for a collateral for the loan amount.
Is education loan a good idea?
Some students take an education loan for graduation and then avail of the top-up facility to complete their post-graduation. “Taking a top up on education loan is bad, because it will increase the liability further. It is better to finish the first education loan before taking the second one,” says C. S.
How do I repay my education loan?
Education Loan Repayment Methods
- Education loan EMIs. …
- Education loan part-payment. …
- Education loan pre-payment or foreclosure. …
- Repay Education Loan by Cheque/DD (Demand Draft repayment) …
- Education loan repayment by cash. …
- Automated EMI payments (ECS/NACH) of student loans.
Can I get 1 crore education loan?
The private sector lender ICICI Bank today launched ‘Insta Education Loan‘ where customers will get an instant approval of education loans of up to ₹1 crore. … With ‘Insta Education Loan’ facility, the borrower can generate the sanction letter within just few minutes.
Can I repay my education loan early?
As education loans run for as long as 15 years, the interest liability can be much more than you could think of. But you can pay off the loan early to reduce interest payments. Paying off education loans before the scheduled close can be difficult. But if you plan your loan payment, you can do it.
How much percentage is required for education loan?
The bank filed the present appeal saying candidates who have secured 60% marks and above alone are eligible to get education loan as they alone can be treated as meritorious candidates.
Is getting education loan easy?
Easily available: Education loans are widely and easily available. In fact, they are a priority product in all banks as per the RBI’s guidelines. Varied loan amounts: Banks can offer loans anywhere between Rs. 2 lakhs and Rs.