1. Bank of Baroda:

  • Education Loan Schemes:
    • Baroda Scholar: 9.70% to 11.15%
    • Baroda Education to Students of Premier Institutions: 9.15% to 10.20%
    • Baroda Gyan: 11.05% to 11.15%
    • Baroda Vidya: 12.50%

2. State Bank of India (SBI):

  • Education Loan Schemes:
    • SBI Take Over of Education Loan: 8.55% - 10.05%
    • SBI Global ED-VANTAGE: 11.15%
    • SBI Scholar Loan: 8.55% - 10.05%
    • SBI Student Loan: 8.15% to 11.15%
    • More Information Click Here

3. Central Bank of India:

  • Education Loan Schemes:
    • Cent Vidyarthi: 8.30% to 11.50%
    • Cent Vidyarthi for Executive MBA: 8.80%
    • Cent Skill Loan: 11.15% to 11.20%
    • Cent Vidyarthi IIMs and other reputed management institutes: 8.30%
    • Cent Education Loan: 8.30% to 11.25%
    • More Information Click Here

4. Bank of India:

  • Education Loan Schemes:
    • Bank of India Star Vidya Loan: 9.25%
    • Bank of India Star Education Loan: 10.95% to 11.75%
    • Bank of India Education Loan Abroad: 10.95% to 11.75%
    • More Information Click Here

5. Punjab National Bank (PNB):

  • Education Loan Schemes:
    • PNB Pravasi Shiksha Loan: 11.25%
    • PNB Honhaar: 11.25%
    • PNB Kaushal: 10.25% - 10.75%
    • PNB Udaan: 10% to 11.25%
    • PNB Pratibha: 8.20% - 10.50%
    • PNB Saraswati: 10.00% - 10.75%
    • More Information Click Here

6. Union Bank of India:

  • Education Loan Schemes:
    • Union Education Skill Development: 10.80% to 12.05%
    • Union Education Special Education Loan Scheme: 9.30% to 10.55%
    • Union Education Loan for Indian School of Business (ISB) Students: 8.55% to 9.50%
    • Union Education (Up to 7.5 lakh): 11.50%
    • Union Education (Above 7.5 lakh): 10.90%
    • Union Education Premier Abroad: 9.30% - 10.80%
    • Union Education - SPECIAL SCHEME FOR PREMIER MEDICAL INSTITUTES: 10.30% - 10.80%
    • More Information Click Here

Education Loan Eligibility:

  • Courses: Various courses including professional certification, vocational training, undergraduate, postgraduate, PhDs, and job-oriented courses.
  • Nationality: Indian citizens, PIOs, NRIs, and OCIs are eligible.
  • Institutes: Loans available for government colleges, recognized universities, private institutions, and international colleges.

Documents Required:

  • Admission letter, mark sheets, PAN card, Aadhar card, passport, voter ID, bank passbook, co-applicant's salary slips, income tax returns for the last two years, and passport-size photographs.

Application Process:

  • Students can apply online by filling out the application form and uploading necessary documents or visit the nearest bank branch for offline application.

FAQs:

  1. Can I get an interest-free education loan?

    • No, banks do not offer interest-free education loans due to the risk associated with Non-Performing Assets (NPAs).
  2. What does an education loan cover?

    • Education loans cover tuition, exam fees, hostel fees, travel expenses, books, and other project-related expenses.
  3. What if a student discontinues the course and gets a job within the grace period?

    • The student must start repaying the loan after securing a suitable job.

It's important for students to carefully compare these options and choose the one that best suits their needs and financial capabilities.