Top Trending Education Loans Providers in India

Education Loans provide to help students achieve their academic objectives. Both in India and out-of-India higher education can benefit from education loans. You can acquire a loan for full-time or part-time courses, as well as loans for working professionals, for higher education.

Comparison of Education Loans Providers

SL. NoName of a BankInterest ratesMaximum Loan Amount
1Panjab National Bank8.75% – 9.50% paAs per your need and your creditworthiness
2Bank of Baroda 7.85% – 9.85% paup to Rs.1.5 crores
3HDFC Bank 9.55% – 13.25% paUp to Rs. 30 Lakhs
4State Bank of India6.65% – 8.65% paUp to Rs.1.5 crore
5Axis Bank13.70% – 15.20% paUp to Rs. 40 Lakhs
6Canara Bankongoing 1-year MCLR+2%Up to Rs. 40 Lakhs
7IDBI Bank6.75% – 8.75% paUp to Rs. 10 Lakhs
8Federal Bankup to 7.80% paUp to Rs. 20 Lakhs
9Bank of India8.95% – 9.75% paUp to Rs. 40 Lakhs
10Union Bank of India8.80% – 10.05% paUp to Rs. 30 Lakhs
11Kotak Mahindra up to 16% paUp to Rs. 20 Lakhs
12Tata Capital Starts from 10.99% paUp to Rs. 20 Lakhs
13Avanse Financial ServicesVaries from person to personUp to Rs. 50 lakhs
14Central Bank of India 8.50% – 9% paNo limit if 100% secured
15ICICI Bank starts from 10.50% paup to Rs.50 lakhs in India
up to Rs.1 crore for abroad

1] Panjab National Bank(PNB)

PNB provide loan up to your requirements with an interest rate of up to 9.50% pa.

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SL. NoRequirementsFee and Charges
1 Interest rate 8.75% – 9.50% pa
2Maximum Loan Amount As per your need and your creditworthiness
2Collateral or guaranteeAbove Rs.7.5 lakhs required
4Loan Tenure15 years+12 months grace period.
5Processing feeMinimum Rs. 10,000 or 1% of Loan Amount

2] Bank of Baroda

Bank of Baroda provides loans up to 1.5 crores with an Interest rate of up to 9.85% pa.

SL.NoRequirementsFee and Charges
1 Interest rate 7.85% – 9.85% pa
2 Maximum Loan Amount up to Rs.1.5 crores
3 Collateral or guarantee Above Rs.7.5 lakhs required
4 Loan Tenure 10-15 years
5 Processing fee Nil

3] HDFC Bank

HDFC Bank provides loans up to 30 lakhs with an Interest rate of up to 13.25% pa.

SL.NoRequirements Fee and Charges
1 Interest rate 9.55% – 13.25% pa
2 Maximum Loan Amount Up to Rs. 30 Lakhs
3 Collateral or guarantee Above Rs. 7.5 lakhs required
4 Loan Tenure up to 15 years
5 Processing fee Minimum Rs. 1000 and can go up to 1% of the loan amount

To know more about HDFC Education Loan CLICK HERE.

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4] State Bank of India(SBI)

SBI provides loans up to 1.5 crores with an Interest rate of up to 8.65% pa.

SL.No Requirements Fee and Charges
1 Interest rate 6.65% – 8.65% pa
2 Maximum Loan Amount up to Rs.1.5 crore
3 Collateral or guarantee Above Rs. 7.5 lakhs required
4 Loan Tenure up to 15 years + 12 months grace period
5 Processing fee varies from scheme to scheme, Maximum Rs.10,000

To know about various SBI Education loan schemes CLICK HERE.

5] Axis Bank

Axis Bank provides loans up to 40 lakhs with an Interest rate of up to 15.20% pa.

SL.No Requirements Fee and Charges
1 Interest rate 13.70% – 15.20% pa
2 Maximum Loan Amount up to 40 lakhs
3 Collateral or guarantee Not required but a guardian as co-applicant required
4 Loan Tenure up to 15 years
5 Processing fee As per bank

6] Canara Bank

Canara Bank provides loans up to 40 lakhs with an Interest rate ongoing 1-year MCLR+2%, rate may vary.

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SL.No Requirements Fee and Charges
1 Interest rate ongoing 1-year MCLR+2%
2 Maximum Loan Amount up to Rs. 40 lakhs
3 Collateral or guarantee Not required
4 Loan Tenure up to 15 years+1 year grace period
5 Processing fee Nil

7] IDBI Bank

IBDI Bank provides loans up to 10 lakhs with an Interest rate of up to 8.75% pa.

SL.No Requirements Fee and Charges
1 Interest rate 6.75% – 8.75% pa
2 Maximum Loan Amount up to Rs. 10 lakhs
3 Collateral or guarantee Above Rs. 7.5 lakhs required
4 Loan Tenure up to 15 years
5 Processing fee As per scheme you choose

8] Federal Bank

Federal Bank provides loans up to 20 lakhs with an Interest rate of up to 7.80% pa.

SL.No Requirements Fee and Charges
1 Interest rate up to 7.80% pa
2 Maximum Loan Amount up to Rs. 20 lakhs
3 Collateral or guarantee Above Rs. 7.5 lakhs required
4 Loan Tenure up to 15 years+1 year grace period
5 Processing fee As per Bank

9] Bank of India

Bank of India provides loans up to 40 lakhs with an Interest rate of up to 9.75% pa.

SL.No Requirements Fee and Charges
1 Interest rate 8.95% – 9.75% pa
2 Maximum Loan Amount up to Rs. 40 lakhs
3Collateral or guarantee Above Rs. 7.5 lakhs required
4 Loan Tenure 1-5 years
5 Processing fee Nil if studying in India
Rs. 3000-5000 if studying abroad

10] Union Bank of India

Union Bank of India provides loans up to 30 lakhs with an Interest rate of up to 10.05% pa.

SL.No Requirements Fee and Charges
1 Interest rate 8.80% – 10.05% pa
2 Maximum Loan Amount up to Rs. 30 lakhs
3Collateral or guarantee Above Rs. 7.5 lakhs required
4 Loan Tenure up to 15 years
5 Processing fee Nil for Indian Students
0.5% of loan amount+GST
5

11] Kotak Mahindra

Kotak Mahindra provides loans up to 20 lakhs with an Interest rate of up to 16% pa.

SL.No Requirements Fee and Charges
1 Interest rate up to 16% pa
2 Maximum Loan Amount up to Rs. 20 lakhs
3Collateral or guarantee Not required but a guardian as co-applicant required
4 Loan Tenure 5-7 years
5 Processing fee 2% of loan amount+tax

12] Tata Capital

Tata Capital provides loans up to 25 lakhs with an Interest rate of up to 10.99% pa.

SL.No Requirements Fee and Charges
1 Interest rate Starts from 10.99% pa
2 Maximum Loan Amount up to Rs. 25 lakhs
3Collateral or guarantee Above Rs. 4 lakh required
4 Loan Tenure 12-72 months
5 Processing fee up to 2.75% of loan amount+ tax

13] Avanse Financial Services

Avanse Financial Services provides loans up to 50 lakhs with an Interest rate not fixed.

SL.No Requirements Fee and Charges
1 Interest rate Varies from person to person
2 Maximum Loan Amount As per your requirement, usually up to 50 lakhs
3 Collateral or guarantee Not required but a guardian as co-applicant required
4 Loan Tenure up to 120 months+6+3months grace period
5 Processing fee 1-2% of the loan amount, varies from person to person

14] Central Bank of India

Central Bank of India provides loans as per your requirement with an Interest rate of up to 9% pa.

SL.No Requirements Fee and Charges
1 Interest rate 8.50% – 9% pa
2 Maximum Loan Amount No limit if 100% secured
3 Collateral or guarantee Above Rs. 7.5 lakhs required
4 Loan Tenure up to 15 years
5 Processing fee Nil

15] ICICI Bank

ICICI Bank of India provides loans up to Rs. 1 crore with an interest rate of 10.50% pa.

SL.No Requirements Fee and Charges
1Interest rate starts from 10.50% pa
2Maximum Loan Amount up to Rs.50 lakhs in India
up to Rs.1 crore for abroad
3Collateral or guarantee Above Rs. 40 lakhs required for selected courses and institutions
4Loan Tenure up to 12 years
5Processing fee 1% of loan amount+Tax

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