Compare Top Education Loan Offers 2021
|Name of Bank||Interest Rate (p.a.)||Processing Fees|
|SBI||6.85% to 8.65%||Rs.10,000 + tax|
|Axis||13.70% to 15.20%||Nil to Rs.15,000 + tax|
|Bank of Baroda||7.85% to 9.85%||1% of loan amount up to Rs.10,000|
|HDFC||9.55% to 13.25%||Up to 1.5% of loan amount + tax|
Thereof, can I get 20 lakhs education loan?
The Credit Guarantee Fund for Education Loans (CGFEL) Scheme provides a guarantee for education loan dispersed by banks under the Model Education Loan Scheme of Indian Banks’ Association (IBA). … Under the CGFEL scheme you can get a loan up to Rs 10 lakh for study in India and up to Rs 20 lakh for studying abroad.
Besides, 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 poor students study abroad?
Some students might wonder how they can study abroad with less money in hand. … There are many similar questions that we have received from students like you. So will you be able to study abroad even if you don’t have sufficient money? The precise answer is – yes, you’ll definitely get to do that!
5 ways to raise funds for yourself if you want to study abroad
- Crowdfunding. Crowdfunding options like ‘Go-fund-me’ is one best way of rising finances to study abroad. …
- Scholarships. Scholarship is another means of getting funds towards studying abroad. …
- Students Grants. …
- Student Loans. …
- Find a Job.
It depends on the bank to bank. The majority of the banks offer loans maximum up to INR 20-30 lakhs. Also, if the loan amount is more than INR 20 lakhs then the interest rate also increases.
Embassy accepting HDFC Credila Education Loan:
An overseas education loan from HDFC Credila is the only NBFC that is accepted by all the country embassies. Right from USA, UK, Canada, Australia, New Zealand, Germany the education loan from HDFC Credila is accepted by all the major study overseas destinations.
Banks offering Education Loans and Collaterals Required
|Bank||Loan Amount and Collateral Required|
|HDFC Bank||Domestic Education – Up to Rs.15 lakhs Foreign Education – Up to Rs.20 lakhs For loans up to Rs.7.5 lakhs no collateral is required|
|HSBC||Loan up to Rs.5 lakhs do not require collateral|
1) Best International Bank: CitiBank
Citibank India is a full-service onshore foreign bank having a presence in India. Its Indian headquarters are in Mumbai, Maharashtra’s Bandra Kurla Complex. It is a subsidiary of Citigroup, a multinational financial services business based in New York City.