Nationalized and Private Banks
Various financial institutions in India work with Eduloans and are able to, create awareness to the next generation of customersprovide services at there convenience. The centralized system reduces the processing time of the loan and Bank is able to provide timely feedback. They usually provide collateral based loan.
Bank of Baroda
Education is the most important investment one makes in life. Higher studies and specialization in certain fields call for additional financial support from time to time. The Bank of Baroda Education Loans can help finance your ambitions and goals.
Bank of Baroda (BOB) offers the following benefits :
- Loan Processing: Fast Online Processing.
- Interest Rate: Preferential Interest Rate starting at 9.95 %.
- Special Rate: Discount of 0.50 % for Girl Students.
- Loan amount: Up to Rs 80 Lacs.
- Tax Benefit: Interest paid on education loan to the bank is Tax waived under section 80E.
- Margin: For overseas studies, select colleges with 0 % margin, all other colleges 10.00 % margin.
- Repayment Period: Up to 15 years.
- Moratorium Period: Course Period + 1 year.
- Loan Proceeds: Proceeds happen from your nearest BOB branch.
- Processing Fee: 1 % of the Loan amount (maximum ₹ 10,000/-) which is Refundable on availment of the first disbursement.
State Bank of India
State Bank of Indai (SBI) offers the following benefits :
- Interest Rate : Interest Rate starting at 10.65 %.
- Special Rate : Discount of 0.50 % for Girl Students.
- Concession : 0.50 % against LIC policy kept as security.
- Loan amount : Up to Rs.1.50 Crores.
- Tax Benefit : Interest paid on education loan to bank is Tax waived under section 80E.
- Margin : 10.00 % margin for overseas studies.
- Repayment Period : Up to 15 years.
- Moratorium Period : Moratorium on repayment during the study period available + 1 year or 6 months after getting the job, whichever is earlier.
- Loan Proceeds : Proceeds happen from your nearest SBI branch.
- Processing Fee : Rs.10,000/- for any amount upto Rs.1.50 Crores (Not Refundable).
Axis Bank
Axis Bank offers attractive Education Loan interest rates in India.
Apply for Study loan at highly affordable interest rates and associated servicing charges.
AXIS Bank offers the following benefits :
- No Processing Fees (Depends on Case).
- No Pre-Payment Charges.
- Only bank to have dedicated RM and door to door service.
- Income Tax Benefit Under Section 80E.
- Sanction Letter prior to receiving I20 for US.
- Re-payment term upto 15 years.
- Validity of Sanction Letter is upto 6 months.
ICICI Bank
You may have studied hard and excelled in your exams or just planned the next move in your career. Whatever be your reason to study, your research should end at finding the right institute. Let finance be the last thing to worry about. We at ICICI Bank, understand your career aspirations and offer the best student loan to successfully aid your journey as a student.
ICICI Bank offers the following benefits :
- Clubbing of both Secured and Unsecured Loan together as per students requirement.
- Lesser Currency Conversion Charges as compared to other Financial Institutions.
- NRI Co-Signor acceptable along with an additional Co-Signor for Secured Loans.
- Economical Valuation and Legal Formalities Charges as compared to other Banks.
- Sanction Letter process through Loan Centre instead of Bank Branch and so its Faster.
- Sanction Letter prior to receiving I20 , VISA and disbursement prior to departure.
- Income Tax Benefit Under Section 80E (For both Secured and Unsecured Loans).
- Doorstep service as per convenience of the customer available at selected locations.
