Fees & Charges
Promised Interest Rate
"I have taken Educational loan from INDIAN OVERSEAS Bank. The loan period was 5 years, already 2 years has been completed. I am happy with their service when compare with other account. I taken this loan on 7 years back. I got this loan offer for 1.5L. EMI need to pay of 4,300 rupees. Pre closure option is available. "
Any of the following courses, as offered by recognized universities, is eligible for an education loan in India-
Generally, there are no restrictions. Most banks and financial institutions do not impose this rule. However, certain lenders do mark an age limit spanning from 16-35 years.
Not immediately. However, after you start repaying, you are free to deduct the loan interest amount from your total income when calculating tax.
The applicant is expected (and mandated) to submit his/her progress reports periodically. The progress reports could be mark sheets or a suitably attested letter from the applicant’s school/college.
I have taken Educational loan from INDIAN OVERSEAS Bank. The loan period was 5 years, already 2 years has been completed. I am happy with their service when compare with other account. I taken this loan on 7 years back. I got this loan offer for 1.5L. EMI need to pay of 4,300 rupees. Pre closure option is available.
I have taken Educational Loan on 3 years before. At an initial when I had applied this loan with VIJAYA Bank but now its merged with BANK OF BARODA. The amount of 2L and I got the same amount from them. The rate of interest was 10% which is nominal. I can close the loan at any time.
Interest rates are quite for the educational loan from State Bank of Travancore which i took for my daughter. Since i am a long term account holder of SBT, i have selected the educational loan. The loan sanctioned time was faster. When i availed the loan, it was State bank of Travancore after that it was merged into State bank of India. I don't find any problem while taking the loan.
There was no other nationalized bank in our region thats the reason i approached the syndicate bank for my educational loan. I got the loan amount of Rs. 2.38 lakhs and they took around 20 days to sanctioned the loan. The interest rate is 12% and i have closed the loan 5 years back.
Long back, I have taken a Educational loan for my college studies in Central Bank of India which was closed. This is the one bank where I get this help, their services are not good. They don't have online facility every time I need to visit the branch. The staffs are not helping the customer in a good manner. The interest rate is low.
When i was doing my post graduation i got my education loan from State bank of India. They came to my college and filled my application and within a week, they have provided the loan to me. The given interest rate is 8.75% which is a variable rates. I have taken the loan amount of Rs. 5 lakhs. I have closed the loan and got my NOC letter.
I was taken a Educational loan with State Bank of India on 7 years before. The amount was sufficient which was provided from bank. The interest rate is fine when compared to other banks.But the customer service is no proper response from their end. For any queries need to visit branch only and no proper update for the loan details. now closed the loan and provided NOC letter.
The process is very stringent and i purchased the loan 6 years ago. That was a little bit difficult to get the loan because it took almost 20 days. The given interest rate is 13.5%. Overall, it was an average educational loan experience with State bank of India. The branch is nearby my college hence i have chosen them.
I took education loan in Union Bank of India based on the semester they disbursed the amount. I got 9 to 10% of interest for per annum, the process was very easy. I went to the branch and submitted the papers to take the loan. Now I closed and got the noc letter.
I was taken an educational loan with State Bank of India on 12 years before. I did not find any hassle in it. The process was good and they have sanctioned a loan on time. The rate of interest was nominal for this loan from institute I have taken a loan. On time I closed the loan.
I took an educational loan with Federal bank. The loan provided with sufficient amount for the tenure of 6 years but I have closed the loan within 2 years. I am paying the EMI amount of Rs.16 thousands which was nominal.But the rate of interest was high for this loan due to that I have closed at earlier.
I know the persons who is working in UCO bank hence i have availed the Educational loan from UCO bank. I have taken the loan amount of Rs. 1.25 lakhs in that i used Rs. 30000 for the first year hence i haven't get the cash for second year onwards. I already close the loan before 3 years.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.