Education Loan Interest Rates of Top 10 Government Banks in India

Last Updated : March 15, 2016, 10:30 a.m.

Nowadays, students want to pursue professional courses, which will help them to build their career. As the world is really competitive and in this throat cut competition, it is a necessity that you hone your skills to survive in this professional world. There are many colleges and institutes in India and abroad which offer courses at graduation, post-graduation level and professional courses to students. The list of courses to choose from is really vast, you can select a course according to your professional aspirations, interest and career goals. The cost to pursue these professional courses are high as compared to pursuing other courses. If you want to pursue engineering, medical or some management course from any leading institute or university you need to pay a good amount as fee. There are many students who are bright and intelligent and secured a seat in the top-notch institutes of the country and even abroad. But their dreams shattered because they do not have enough funds to support their studies. The students who have potential, doing academically good and have secured a seat in these prestigious colleges can borrow an education loan to chase their professional dreams.

Education loan is provided to such students who want to pursue their higher education in India and abroad from a recognised university, college or institute. If you have managed to secure a seat in the leading colleges and got your admission letter, on behalf of that letter you can apply for an education loan. Banks offer education loan for full-time, part-time and vocational courses from leading recognised colleges. There are many banks such as ICICI, HDFC, IDBI, Axis, SBI, Punjab National Bank, BOI, Bank of Baroda and many more which offer education loan to students. Although the interest rates, terms and conditions of these banks may vary. These banks offer different loan amount and the upper cap of maximum loan amount is also different. You can apply to your home banks to get the best rate of interest and maximum loan amount sanctioned if that bank offers an education loan. There are many colleges and institutes, which have tie-ups with leading national banks to help you in securing an education loan. In such scenario you need not to run from bank-to-bank to get your loan approved. Here is the list of top 10 banks of India and their interest rate for education loan.