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Education Loan for Bachelors

Updated on Nov 15, 2022
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Using a student loan to pay for higher education is challenging. You must pick a product that not only covers your expenses but also does not burn a hole in your wallet. After all, an education loan is a ten-year financial commitment, so you should pick a package that will allow you to pay for your bachelor's degree while saving money.

Name of the bank

Loan amount limit

Processing Fees

Loan tenure

Moratorium period

Margin Money

State Bank Of India

For India - Upto INR 20 Lakhs

For abroad - Upto INR 1.5 crore

INR 10,000 + GST

Maximum 15 years

Course period + 6 months

10%

Bank of Baroda

For India - Upto INR 60 Lakhs

For abroad - Upto INR 80 lakhs

INR 10,000 + GST

Maximum 15 years

Course period + 12 months

Above INR 4 lakhs - 10%

Canara Bank

Upto INR 40 lakhs

Nil

Maximum 15 years

Course period + 12 months

5% to 15%

Bank of India

For India - INR 10 lakhs

For abroad - INR 20 lakhs

For India - NIL

For abroad - INR 5000

Maximum 15 years

Course period + 12 months

15%

Central Bank of India

No upper limit

Loans upto INR 10 lakhs - INR 500

Loan above INR 10 lakhs - INR 1000

10 - 15 years

Course period + 6 or 12 months

15%

Indian Overseas Bank

For studies in India - INR 30 lakhs

For abroad studies - INR 40 lakhs

Nil

15 years

Course period + 12 months

5% to 15%

IDBI Bank

INR 20 lakhs

For India - NIL

For abroad - INR 5000 (refundable)

10 - 15 years

Course period + 6 months

upto 15%

Karur Vysya Bank

For India - INR 10 lakhs

For abroad - INR 20 lakhs

Nil

Upto 7 years

Course period + 6 or 12 months

upto 15%

United Bank of India

For India - INR 10 lakhs

For abroad - INR 20 lakhs

Nil

10 - 15 years

Course period + 6 or 12 months

upto 15%

Union Bank of India

No upper limit

Nil

15 years

Course period + 12 months

15%

Indian Bank

For India - INR 15 lakhs

For abroad - INR 25 lakhs

-

10 - 15 years

Course period

5% to 15%

UCO Bank

For India - INR 10 lakhs

For abroad - INR 20 lakhs

Nil

Up to 15 Years

Course period + 1 year

For India - 5%

For abroad - 15%

Punjab National Bank

INR 40 lakhs to INR 60 lakhs

1% of the loan amount

15 years

Course period + 12 months

15%

Oriental Bank of Commerce

For premium colleges - INR 20 lakhs

For others - INR 10 lakhs

-

Up to 15 Years

Course period + 12 months

15%

Andhra Bank

INR 20 lakhs

-

5-7 years

Course period + 12 months

upto 15%

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