Education Loan in indian bank
In India, bank offers various Education Loan at an affordable interest rate with flexible repayment tenure of up to 5 to 7 years. Students can get a loan for their higher education in India as well as abroad.
Interest Rate of financeseva for Education Loan
Loan amount - Up to 30 lakhs
Interest rate - @9.75% onwards*
Loan tenure - Up to 7 years
Processing fee - Nil
Interest rate by top Indian banks
Bank name Interest rate
Avanse 10.50%
HDFC Bank Ltd. 8.50%
Bank of Baroda 8.25%
Punjab National Bank 7.30% onwards
Axis Bank Ltd. 13.70%
Credila Financial Services Private Limited 8.25%
State bank of India 7.97%
Purpose of Education loan
There are several purposes of Indian bank education loan given below: -
- It covers the expense of stationery, uniform, and books.
- Passage money for higher education abroad.
- Hostel, library, and education fees.
- Purchase of tablets, laptops, etc.
Eligible courses
Studies in India
- Students who apply for undergraduate, postgraduate courses, or Diploma are eligible to get education loan from Indian banks.
- It can also be provided for computer certificate courses from the department of Electonics.
Studies Abroad
- Indian banks provided education loan for technical courses given by universities, or job-oriented professionals.
- Students can apply for various courses such as MCA, MS, MBA and courses conducted by CPA in USA, and CIMA in London, can get education loan from Indian Banks.