Education Loan Interest Rates of Top 10 Banks in India

HDFC Bank grants education loans to study in India and abroad. The maximum loan amount for studying in India is limited to Rs. 50 Lakhs. Rate of interest: 9.55% to 13.25% and Repayment Term: 14 years.

Education loans start from Rs. 50,000. The upper limit depends on your need and eligibility. The rate of interest is 15.20% for Up to Rs 4 Lakhs, 14.70% for Above Rs. 4 Lakhs to Rs. 7.5 Lakhs and 13.70% Above Rs. 7.5 Lakhs.

Union Bank does not charge any processing fee from Indian students for education loans irrespective of the loan amount. The rate of interest for courses in India is up to 12.55% depending on the quantum of loan and the rate of interest for courses abroad is up to 10.80% depending on the quantum of loan.

Loan Amount Offered is Up to Rs. 20 Lakhs for studies in India and Rs. 30 Lakhs for foreign education. Rate of interest: Up to Rs. 7.5 Lakhs – 10.60% and Above Rs. 7.5 Lakhs – 11.10%. Repayment Term: 15 years.

SBI grants educational loans of up to Rs. 1.50 Crores under the SBI Global Ed-Vantage scheme for foreign studies. Rate of Interest: 11.15% for SBI Global Ed vantage Scheme and 8.55% to 10.05% for SBI Scholar Loan scheme.

No upper limit, depends on the repayment capacity and margin. PNB Udaan is an exclusive loan scheme to support meritorious students for pursuing higher education abroad in reputed universities. Rate of interest: up to 12% for PNB Saraswati Scheme and up to 12% for PNB Udaan.

ICICI Bank offers education loans up to Rs. 1 Crore for studies in India and up to Rs. 2 Crore for studies abroad. Rate of interest: 9.50% – 15.85%.

You can get foreign education loan from South Indian Bank (SIB) for pursuing a full-time UG/ PG/ PhD and diploma, skill development courses abroad with a duration of more than a year. Loan Amount: Up to Rs 1.5 Crore, rate of interest: 12.90% – 13.65%.

The minimum and maximum amount you can get is Rs 5,000 to Rs. 1.5 Lakhs. The amount of loan you get is need-based and can stretch up to Rs. 40 Lakhs for premier institutes like ISB- Hyderabad. Rate of interest: 10.85% – 11.35% for Education loan for Master’s Degree abroad and 9.25% – 9.85% for Vidya Turant.

Maximum Loan Limit is Rs. 4 Lakhs for school studies. Up to 150 Lakhs for other education loans. Rate of interest: 11.05%-11.15%.