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15th April 2016, 11:42 AM
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Join Date: May 2012
Re: Top Student Loan Providers

Education Loans are given by banks and other specialised financial institutions to deserving students for completing their graduation and post- graduation studies.

Loans are given for studies in India as well as abroad.

In India, not all banks offer education loans.

Top Student Loan Providers in India (April 2016)

Cent Vidyarthi

Central bank of India offers loans up to 10 lakhs in India and up to 20 lakhs abroad.

It is offered to all graduate courses in Management/Job-oriented courses, Professional Courses of recognized Universities / reputed Institutes, Computer courses conducted by NIIT, APTECH, CMC, C-DAC with duration of one year and more.
To apply for the loan, the candidates must have a consistent academic record with 60% marks in 10th as well as 12th.

There is no processing fee for loans in India while Rs.500/- for loan up to Rs.10 lakh and Rs.1000/- for loan above Rs.10 lakh will be charged on abroad loans.

Interest for male students 10.25+2%
Interest for female students 10.25%+1.5%

United Bank of India


United Bank of India offers loans for students who wish to pursue education in India as well as abroad.

You have to be an Indian national and must have passed the entrance exam for a professional or technical course.

Maximum amount of loan is 10 lakhs in India and abroad is 20 lakhs.

Up to 4 lakhs 10.25%+2%
4.00 lakh to7.50% lakhs 10.25%+2.75%
Above 7.5% 10.25%+2%

State Bank of India’s Student Loan

SBI offers educational loans at very attract interest rates.

It can be availed for graduate/post graduate courses approved by UGC/ AICTE/IMC/Govt.

Extra expenses like hostel fees, laboratory fees, caution deposit, travel expenses can also be considered for the loan.

You can get up to 10 lakhs for studying in India and 30 lakhs for studying abroad.

Up to 4 lakhs 13.50%
4.00 lakh to7.50 lakhs 13.75%
Above 7.5 lakh 11.75%

PNB Saraswati

Punjab National Bank offers financial assistance for graduate/post graduate courses from recognized colleges and university.

To be eligible for this loan you have to be an Indian national and must have completed 10+2 or equivalent.

For education in India you can avail loans up to 10 lakh while abroad you can get up to 20 lakhs.

Amount of loan Interest
Loans up to 4 lakhs 10.25%+3%
Loans from 4.00-7.50 lakhs 14.25%
Above 7.50 lakhs 12.25%*

IDBI Bank’s Student Loan

Students who wish to pursue their higher studies can avail loans from IDBI bank.

They offer loans for non-vocational courses, vocational courses, management quota and under Financial Inclusion Program.

There is no processing fee for studies in India while studying abroad there is 1% of the loan amount subject to a maximum of Rs. 5000 plus taxes.

Loan qualifying as Priority Sector Lending (PSL) 11.25% (BR+1.00%)
Loan amount not qualifying as Priority Sector Lending (PSL) 12.25% (BR+2.00%)
Vocational Courses 11.25% (BR+1.00%)
Education Loans for students studying in Premier Education Institutes 10.25% (BR+0.00%)
Education Loan for other students who secured admission under Management Quota 13.75% (BR+3.50%)
Education Loan under Financial Inclusion program (FIP) 11.75% (BR+1.50%)


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