Education loan for studying abroad
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Which bank is the best for an education loan for studying abroad?
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@shruti-rai
There is no one right answer to this question. The bank you choose will depend on your personal financial situation. But let’s look at the options you have-- Public banks: Public Sector Banks or PSB’s, like SBI, offer low-interest rates. Apply for a loan here at least 20-25 days in advance.
- Private banks: The good thing about private banks like HDFC and Axis is that they offer higher amounts of loans than PSB’s for unsecured loans.
- NBFC’s: NBFC’s are a great option if you want to get an unsecured loan in a very short period of time.
You can read all about getting an education loan here: Education loan for abroad studies
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Many banks offer education loans for various courses in India and abroad. However, you should select a bank or NBFC that provides larger loan amounts, attractive interest rates, the best moratorium period, and relaxed terms to repay the loan. When applying for a [study loan for abroad], you should also ensure that the loan covers different expenses, including living expenses, tuition fees, the cost of devices, books, etc. Check whether the bank provides the customer with the ease of repaying the loan earlier or not. It is recommended to choose a bank that offers the best and most convenient loan terms.
