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Education Loan
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What is Personal Loan?
A Personal Loan is a form of unsecured loan availed by individuals on the basis of specific criteria, such as level of income, employment history, credit score, and scope for repayment.
The loan is usually taken for the fulfillment of personal needs from a banking institution or a non-banking financial company (NBFC). Borrowers can use online tools available at neutral financial websites, such as the Personal Loan EMI Calculator, to assess the interest payout throughout the tenure before applying for a personal loan.
Education Loans from Top Indian Banks*
| Name of Bank/Financial Institution | Education loan schemes | Amount | Interest Rate | Repayment Tenure |
|---|---|---|---|---|
| State Bank of India | SBI Student loan scheme | Up to Rs. 7.5 lakhs Above Rs. 7.5 lakhs |
10% 10.75% |
5-7 years |
| SBI Scholar loan scheme | Up to RS. 20 lakhs | 8.40%- 10% | ||
| SBI Global Ed-vantage scheme | More than Rs. 20 lakhs up to Rs. 1.5 crores | 10.50% | ||
| Axis Bank | Axis Bank education loan | Rs. 50,000 to Rs. 75 lakhs | 10.5% -12.5% | Up to 7 years |
| Punjab National Bank | PNB Saraswati |
Up to Rs. 7.50 lakhs Above Rs. 7.50 lakhs |
10.35% 10.60% |
Up to 15 years |
| PNB Prathiba |
Up to Rs. 7.50 lakhs Above Rs. 7.50 lakhs |
8.85%-8.95% | ||
| PNB Udaan |
Up to Rs. 7.50 lakhs Above Rs. 7.50 lakhs |
10.35% 10.60% |
||
| PNB Kaushal | Depends on the loan applicant | 8.45% 8.85% |
||
| HDFC Bank | HDFC Credila education loan | Minimum Rs. 50,000 , no maximum limit | Depends on the academic and financial track record of individual applicant | Up to 12 years |
| Avanse | Avanse Education loan | Minimum Rs. 50,000 , no maximum limit | Depends on the academic and financial track record of individual applicant | 1-10 years |
Please Note*: The figures provided in the table above are indicative only and are subject to change from time to time.