Which bank is best for education loan in India?

Which banks are best for education loan?

Best Bank For Education Loan

  • SBI Education Loan.
  • Bank of India Education Loan.
  • PNB Education Loan.
  • Indian Bank Education Loan.
  • IDBI Bank Education Loan.

Which bank is best for educational loan in India Quora?

Generally, interest rate for student loan is 8% to 12%. As per my analysis STATE BANK OF INDIA is best bank for educational loan. Government banks like State bank of india, Bank of India have less interest rate than private banks.

Which bank gives fastest education loan?

Axis Bank brings you Education Loans for studies both in India and abroad starting from Rs. 50,000 at attractive interest rates. With an Axis Bank Education Loan you can enjoy a host of benefits such as simple documentation, quick loan disbursal, tax benefit u/s 80(E), long repayment tenure, etc.

Which bank has minimum rate of interest for education loan?

Top Banks Education Loan Interest Rates

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Banks/NBFC Loan Amount Rate of Interest
HDFC Bank Minimum APR 9.00%
Maximum APR 13.86%
Average APR 11.57%
Kotak Mahindra Bank For all loan types and amounts 11.5% to 24%

Is education loan free of interest?

– No, education loan is not interest-free in India. However, student loan without interest is a possibility in India with scholarships and subsidies. You can negate the effect of interest on your education loan by availing 0% interest scholarships or subsidies with Government subsidy schemes.

Do banks give student loans?

Banks only offer private student loans. Before borrowing those, max out unsubsidized and subsidized federal student loans because of their low fixed rates and consumer protections. You can qualify for federal student aid by completing the Free Application for Federal Student Aid, or FAFSA.

Is Bank of India good for education loan?

Bank of India Education Loan “Good service ” 4.5/5 “Excellent!” It was a good experience with bank of india related to the education loan. The process was not hectic with them. They are no hidden process and everything based on service was transparent with this bank.

Is Axis bank good for education loan?

And here’s where an education loan serves as a great aid. Axis Bank India offers education loans at attractive interest rates for a loan amount ranging from Rs 50,000 to Rs 75 lakh. The education loan is available for career-oriented course such like medicine, engineering, management, etc.

Which bank has lowest interest for education loan Quora?

Any PSB offers lowest education interest rate than that of any Pvt. Bank . The lowest rate at this moment is of UNION BANK at 6.80% followed by Central Bank of India/BOI at 6.85% and PNB/ SBI at 6.90% plus . There is hardly any difference in loan interest rates among banks as it is deregulated and market determined.

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Can I take 2 education loans?

Well, the answer to the above question is – Yes, a student can be eligible for a second education loan. For this, they can either apply for a second education loan from the bank they already have taken their first loan from or they can apply to a different bank.

Can I get education loan for IAS coaching?

No there is no education loan for UPSC exam preparation.

How do I repay my education loan?

Education Loan Repayment – How to repay your education loan

  1. Repay Education Loan by Cheque/DD (Demand Draft repayment)
  2. Education loan repayment by cash.
  3. Automated EMI payments (ECS/NACH) of student loans.

What is average student loan interest rate?

5.8% is the average student loan interest rate among all student loans, federal and private. The average federal loan interest rate is 4.12%.

Which bank is best for education loan without collateral?

Banks Offering Education Loans and Collaterals Required

Bank Loan Amount and Collateral Required
HSBC Loan up to Rs.5 lakh do not require collateral
State Bank of India (SBI) Domestic Education – Up to Rs.15 lakh Foreign Education – Up to Rs.1.5 crore For loans up to Rs.7.5 lakh no collateral is required

Is education loan expensive in India?

Whereas education loan interest rate in India is generally much higher and goes as high as 15% with some banks. The primary reason behind this is the huge percentage of default that happens in student loans.