Compare Top Education Loan Offers 2021
| Name of Bank | Interest Rate (p.a.) | Loan Amount |
|---|---|---|
| SBI | 6.85% to 8.65% | Up to Rs.1.5 crore |
| Axis | 13.70% to 15.20% | Up to 75 Lakh |
| Bank of Baroda | 7.85% to 9.85% | Up to 4 Lakh and above |
| HDFC | 9.55% to 13.25% | Max Apr |
Secondly, can I get 20 lakhs education loan without collateral?
Collateral Required for Education Loan
20 lakhs. Guidelines show that loan taken up to Rs. 4 lakhs does not require collateral security. It is only when the loan exceeds a specified amount as set by the bank that collateral will be required as well as third-party guarantee.
In this regard, can I get education loan 1 crore?
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. This first-of-its-kind facility will enable thousands of customers to take education loans in a fully digital process against their fixed deposits with the bank.
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 students get loans after 12th?
The age of the candidate must fall within the bracket of 18 to 35 years during loan application. … He/she must be undergoing a graduate/postgraduate degree or a PG diploma. The applicant should have a secured admission in a college or university affiliated by UGC/AICTE/Govt.
Can students get loans without parents?
Getting a student loan without your parents’ information or credit history may be difficult, but it is possible. Independent students and some dependent students can take out federal student loans without parental help. Borrowers can also look into private student loans, which may or may not require a credit history.
Does education loan cover hostel fees?
Generally, a complete education loan covers all expenses including your tuition fees, hostel stay, library fees, books and courseware, and other miscellaneous expenses. Some banks also provide additional covers such as vehicle purchase for up to a certain amount, insurance protection, free credit cards, etc.
How do I repay my education loan?
How to repay your education loan with limited income
- Choose a higher loan tenure, pre-pay if you have funds. If you opt for a secured education loan, you can avail a tenure of 10 years and above. …
- Start a side hustle or work part-time. …
- Live frugally. …
- Future income.
How much percentage is required for study 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 any property required for education loan?
To get a loan from a lender, you generally have to pledge security such as house property, fixed deposits, shares, bond, etc., to take the loan. … There is no margin requirement if you apply for a loan within this limit through a scheduled commercial bank under the CGFSEL scheme.
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.
Which bank is best for abroad education loan?
Top Education Loans Providers in India for Study Abroad
- HDFC Bank. HDFC Bank offers education loans with preferential interest rates for reputed universities. …
- State Bank of India. …
- Axis Bank. …
- Punjab National Bank. …
- Bank of Baroda. …
- Canara Bank. …
- IDBI Bank. …
- Avanse Financial Services.