In the 21st century every student wants to become educated and pursue higher studies in respective streams. But not every student or parents will able to afford college/university fees. For such students who wants to pursue their dream but unable to afford college fee, there are large number of banks (government and private) which provide education loan for complete course. There are banks like BOI, Canara, SBI, HDFC, Citibank, Bank of Baroda, AXIS bank and other banks which offer education loans. Students can take the loans from these banks not only for studying in India but also for abroad. Students need to note that they can get loan from only these banks State Bank of India, Bank of Baroda, Credila, Axis Bank, HDFC, United Bank of India, Central Bank of India, Bank of Maharashtra, Canara Bank, Dena Bank, Indian Overseas Bank and Punjab National Bank..
With so much of effort students got admission in best university but due any of the reason it become difficult for students or parents to bear such huge amount of fee. Education loan is the only way for such students to complete the education and fulfill the dream. Different State Bank of India, Bank of Baroda, Credila, Axis Bank, HDFC, United Bank of India, Central Bank of India, Bank of Maharashtra, Canara Bank, Dena Bank, Indian Overseas Bank and Punjab National Banks provide education load at different interest rate, before taking a final decision on taking loan, it is important to first compare various interest rates offered by different banks. In the below table we have listed down the names of different banks with their interest rate. We hope this information may help you.
List of Best Banks for Education Loan with Interest Rate
|Name of Bank||Rate of Interest*|
|State Bank of India||9.70% – 13.45% Rate|
|Bank of Baroda||9.90% – 12.40% Rate|
|Axis Bank||15%-16.5% Rate|
|United Bank of India||9.90% – 13.50% Rate|
|Central Bank of India||11.45% – 11.95% Rate|
|Bank of Maharashtra||11.25% – 12.50% Rate|
|Canara Bank||11.60% – 13.60% Rate|
|Dena Bank||11.25 % Rate|
|Indian Overseas Bank||11.45% – 12.95% Rate|
|Punjab National Bank||10.00% – 13.00% Rate|
Now you have checked interest rate of all these banks as follows State Bank of India, Bank of Baroda, Credila, Axis Bank, HDFC, United Bank of India, Central Bank of India, Bank of Maharashtra, Canara Bank, Dena Bank, Indian Overseas Bank and Punjab National Bank..
Education Loan Eligibility:
For education loan applicants should be residents of India. The student should have secured admission at any reputed institution for any diploma, degree course which is approved by the bank. The students got admission through valid entrance test or a merit based selection process.
How to get education loan easily:
There are number of important factors that you should one compare between all banks before taking up the education loans.
- The Interest rate plays very important role. Different banks having different interest rates. One must go through with the interest rate details before taking loan. The interest rate depends upon the amount of loan.
- There are such banks which offer education loans and student need to pay the loan when gets job.
- Kindly check out the minimum processing fees, administrative fees, documentation costs etc.in between all the banks.
- Check these guarantees or security with the bank which generally vary from bank to bank.
- Check the down payment amount or criteria which usually range between 5%-20% of the loan amount.
Those who wants to get loan they should need to visit the official web Page of Bank of Visit your nearest bank for furthermore details. Here we have provided full and direct info regarding Best Bank for Education Loan with Education Loan Details. If you wanted to know more than visit your nearest bank branch.
What are the Benefits of Education Loan?
- There are most banks which do not charge any processing fee for student availing education loan.
- Students can pay the loan after getting job without depending on parents or any other.
- The maximum loan amount grant by banks to study in India is upto Rs. 10 lakhs while studying in abroad up to Rs. 20 lakhs.
- There are banks which do not want any security collateral at the time of providing education loans below Rs. 4 lakhs.
- The bank grant education loan also depends upon the type of the institution or course enrolls by the student. There are banks which avail loans for specific institution or course.
At last we have also provided the Benefits of Education Loan., Now don’t wait and finally apply for online education loan and credit your loan in your account as soon as Possible. So that you can pay your college/ tuition as well as living fees through education loan.
To know and get more info regarding Best Bank for Education Loan… Education Loan Details you all should need to visit these banks as State Bank of India, Bank of Baroda, Credila, Axis Bank, HDFC, United Bank of India, Central Bank of India, Bank of Maharashtra, Canara Bank, Dena Bank, Indian Overseas Bank and Punjab National Bank.