Which bank provide education loan easily in India?
Compare Top Education Loan Offers 2021
| Name of Bank | Interest Rate (p.a.) | Loan Amount |
|---|---|---|
| Axis | 13.70\% to 15.20\% | Up to 75 Lakh |
| Bank of Baroda | 7.85\% to 9.85\% | Up to 4 Lakh and above |
| HDFC | 9.55\% to 13.25\% | Max Apr |
| Tata Capital | 10.99\% onwards | Up to 30 Lakh |
How do I choose my bank for education loan to study abroad?
How to choose your bank for Education Loan to Study Abroad
- Interest Rate. Interest rate remains the most important factor to be considered while selecting a bank for education loan since even a small difference can help you save a significant amount of money.
- Tax Benefits.
- Eligibility and Documents.
Is Axis bank good for education loan?
And here’s where an education loan serves as a great aid. Axis Bank India offers education loans at attractive interest rates for a loan amount ranging from Rs 50,000 to Rs 75 lakh. The education loan is available for career-oriented course such like medicine, engineering, management, etc.
Which bank gives education loan without collateral for abroad?
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 |
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 |
Does credila give loan without collateral?
As per the IBA guidelines, the banks offer up to Rs. 4 Lakhs and Rs. 7.5 Lakhs without collateral security for studies in India and Abroad respectively. 20 Lakhs without surety for talented and deserving applicants.
Which loan is better for students?
Federal student loans are generally the first choice for students because you can get approved regardless of your income or credit, and they offer the same interest rate to every student. Additionally, federal student loans are eligible for repayment plans and assistance programs, such as student loan forgiveness.
Can I get 60 lakhs education loan without collateral?
The security pledged against a loan is termed as collateral. However, you can get an education loan without pledging any security. But, if you take a loan of more than Rs 7.5 lakh, the bank may ask for collateral for the loan amount. The bank may also ask you to deposit margin money and seek third-party guarantee.
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.
Can I get 20 lakhs education loan without collateral?
Collateral Required for Education Loan 20 lakhs. Guidelines show that loan taken up to Rs. 4 lakhs does not require collateral security. It is only when the loan exceeds a specified amount as set by the bank that collateral will be required as well as third-party guarantee.
Is HDFC credila part of HDFC?
HDFC Credila Financial Services Limited (Formerly known as HDFC Credila Financial Services Private Limited) is a part of the HDFC Group Companies, and itself gives education loans.
What are the 3 types of student loans?
There are three types of federal student loans:
- Direct Subsidized Loans.
- Direct Unsubsidized Loans.
- Direct PLUS Loans, of which there are two types: Grad PLUS Loans for graduate and professional students, as well as loans that can be issued to a student’s parents, also known as Parent PLUS Loans.
Which is the best education loan provider in India for foreign education?
Top Education Loan Providers in India for Foreign Education 1 State Bank of India: 2 Axis Bank: 3 HDFC Bank: 4 Punjab National Bank: 5 Canara Bank: 6 IDBI Bank: 7 Bank of Baroda: 8 Avanse Financial Services:
What is the best form of financing for foreign education?
Funding the foreign education is a major factor that affects the type of course that students enroll for and also the institution selected. The best form of financing is to avail an education loan for foreign studies. Banks in India offer various schemes depending on the institution selected and the course of study.
What is Indian Bank education loan?
Indian Bank is a well-established premier banking name in our country. Indian Bank Education Loan covers a student’s hostel fees, college tuition fees, books, travel expenses, and other student-related costs. The details of the same are listed below:
What is the maximum loan amount for studying in India?
The maximum loan amount for studying in India is limited to Rs. 20 Lakhs. Whereas, all the cost of education is covered under the loan for foreign education, with no upper limit. But you need to provide collateral in the form of a fixed deposit or immovable property to the bank.