Compare Top Education Loan Offers 2021
| Name of Bank | Interest Rate (p.a.) | Processing Fees |
|---|---|---|
| Bank of India | 8.95% to 9.75% | Nil for courses in India Rs.5,000 + other fees for study abroad |
| Kotak Mahindra Bank | Up to 16% | Contact the bank |
| Federal Bank | 10.05% onwards | Contact the bank |
In this regard, 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.
Co-applicants are required to hold an account in Indian banks. Applicants are required to submit confirmation from the college/university before the sanction or approval of the loan. Co-applicants are required to have a stable financial condition to support the loan.
Then, is education loan free of interest?
However, can education loans in India be actually interest-free? The answer is no. Or at least, technically, you cannot avail of an interest-free education loan unless you have availed some economic benefits or academic subsidies from either the government or your institution.
Is HDFC credila accepted for UK visa?
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.
What is the rate of interest for HDFC credila?
HDFC Credila Education Loan Features & Benefits
| S.No. | Features | Credila Education Loan Details |
|---|---|---|
| 2. | Interest Rate (ROI) | 11% to 12.5% |
| 3. | Processing Fee | 1 % to 1.25% of the loan amount |
| 4. | Margin Money | NIL; Finance up to 100% of the expenses |
| 5. | Loan Tenure | Up to 10 years |
Which bank is best for overseas 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.
Which banks give education loan easily?
Banks offering Education Loans and Collaterals Required
| Bank | Loan Amount and Collateral Required |
|---|---|
| HSBC | Loan up to Rs.5 lakhs do not require collateral |
| State Bank of India (SBI) | 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 |