Which bank is best for educational loan in India?
Which bank is best for educational loan in India?
Compare Top Education Loan Offers 2021
| Education Loan Schemes | Interest Rate (p.a.) | Processing Fees |
|---|---|---|
| Bank of India | 6.85% to 9.35% | Nil for courses in India Rs.5,000 + other fees for study abroad |
| Kotak Mahindra Bank | Up to 16% | Contact the bank |
| ICICI Bank | 10.50% onwards | Contact the bank |
| Federal Bank | 10.05% onwards | Contact the bank |
What is the rate of interest of education loan in SBI bank?
The interest rates will be floating for entire period of loan
| SBI STUDENT LOAN SCHEME | ||
|---|---|---|
| Loan Limit | 3 Year MCLR | Effective Interest Rate |
| Upto Rs 7.5 Lacs | 6.65% | 8.65% |
| Concession | 0.50% concession in interest for girl students | |
| Above Rs 7.5 Lacs | 6.65% | 8.65% |
Is there any interest on education loan in India?
– 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.
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….Find out more about the features and benefits of Student Loan in India, below.
- Pre Admission Sanction*
- Maximum loan repayment tenure.
- Tax Benefit U/s 80 (E)
Can I repay my education loan early?
As education loans run for as long as 15 years, the interest liability can be much more than you could think of. But you can pay off the loan early to reduce interest payments. Paying off education loans before the scheduled close can be difficult. But if you plan your loan payment, you can do it.
What is the best education loan in India?
– State Bank of India. Named SBI Student Loan Scheme, the State Bank of India offers education loan to students to pursue their dream education. – Axis Bank. – HDFC Bank. – Punjab National Bank. – Canara Bank.
What banks offer student loans?
Some of the more notable lending institutions offering student loans include: Citibank. Wells Fargo. Chase. SunTrust. Sallie Mae.
What is the current student loan rate?
Federal Student Loan Rates: 2020 to 2021 Undergraduate Direct Subsidized and Unsubsidized loans – 2.75% Graduate or Professional Unsubsidized loans – 4.3% Direct PLUS loans – 5.3%