INSUBCONTINENT EXCLUSIVE:
Different banks offer varied choices of education loans.
Education loans are loans issued for the purpose of attending an academic university and pursuing an academic degree
According to the definition of Investopedia, education loans can be obtained from the government or through private sector lending sources
Federal loans often offer lower interest rates
Some also offer subsidized interest
Private sector loans generally follow more of a traditional lending process for application with rates typically higher than federal
Different banks offer varied choices of education loans
SBI's education loan is divided into five categories: scholar loan, global ed-vantage, student loan, skill Loan and take-over of education
HDFC Bank offers up to Rs 10 lakh as education loans for studies in India
Indian nationals for pursuing higher education in India or abroad where admission has been secured, as mentioned on the official website of
The repayment period can go of up to 15 years after course period plus 12 months of repayment holiday
No processing / upfront charges are levied on education loans
One can avail a loan amount upto Rs
10 lakh for studies in India and Rs
20 lakh for studies abroad.SBi's scholar loan is available for courses at select leading institutions in India like IITs, IIMs, NITs,
AIIMS and other premier institutions
One can avail a loan up to Rs
Global ed-vantage loan is exclusively available for full-time regular courses at foreign colleges and universities
One can avail a loan from Rs 20 lakh up to Rs 1.5 crores
SBI's take-over of education loans, one can switch his/her existing high cost education loan to SBI and reduce monthly EMIs (Equated
There are wide ranges of collateral options also available with HDFC Bank's education loans
According to HDFC, resident Indians between the ages of 16 and 35 are eligible for education loans
For Loan amount 4lac 7.5lac: tangible collateral security along with parents are required to be joint borrower(s)
The maximum tenure can go up to 10 years for loans up to Rs 7.50 lakh
