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 Education Loan Ratings
4.0 / 5.0 by 361 users

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Responsiveness

 Education Loan Reviews

"I have taken the education loan in SBI around Rs. 3.25 lakhs with the interest rate of 13% for the tenure of five years, now my tenure has been increased and my EMI got reduced. I am very much fine with SBI, my whole family is using SBI service always. "

Deep Ranjan Ghose, Kolkata
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What is Education Loan?

An Education Loan is designed to help students pay for university tuition, books, and living expenses.

Student Loan Income Tax Benefits

Get tax benefits under Section 80E of Income Tax Act of India for the Student Loans.

Student Loan Repayment

Generally Repayment will start after the Course period + 1 year or 6 months after getting job.
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Education Loan

education loan Interest RatesUpdated on

Details of education loan

Education Loan Interest Rate.(Monthly reducing balance)
12.00% to 17% floating.
Processing Fees
NA
Education Loan Tenure
1 year to 10 years
Educationa Loan Amount
Up to 100% of educational expenses
Pre-closure Charges
NA
Guarantor Requirement
Yes, guarantor required

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  • Some fields are incorrect or have not been filled in. Please correct this to proceed.
  • Details of Course For Which Loan is Needed
  • Slowly start typing your university's name and choose from the recommendations provided. If you do not see your university on our list, simply type the name in this field.
  • Include all tuition fees, living expenses, hostel expenses, purchases of books & equipment, and travel fare to country of study (if applicable).
  • Co-borrower Details
  • A relative with good income who can support your education loan applicant. Father or Mother are highly preferred as co-borrowers.
  • This is the co-applicant's net monthly salary as credited to his/her bank account after all deductions.
  • Gross Total Income as per latest ITR.
  • You will be charged a lower interest rate and be eligible for a higher loan amount if you provide collateral for the loan. Collateral can be a flat, house, non-agricultural land or fixed deposit.
  • Details of Collateral That Can Be Provided For Loan
  • Property with an existing loan on it can only be accepted as collateral if HDFC Ltd is the lender. Commercial properties and agricultural land cannot be accepted as collateral.
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Reviews

   Education Loan Reviews
Page 1 of 32 1 2 3 4 5
  • Its Excellent
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    , kolkata
    Recommend Recommended by user
    Validated User
    (0)

    I have taken the education loan in SBI around Rs. 3.25 lakhs with the interest rate of 13% for the tenure of five years, now my tenure has been increased and my EMI got reduced. I am very much fine with SBI, my whole family is using SBI service always.

    Was this review helpful? Yes
    deep took a Education Loan from STATE BANK OF INDIA Reviewed on
  • Validated User
    (0)

    I had closed the educational loan with the Oriental bank of commerce and I have done it a way long back. I did not get any NOC from them till now and it was the smooth process to close the loan because of some offers at that time for that speicific tenure.

    Was this review helpful? Yes
    maheswaran took a Education Loan from ORIENTAL BANK OF COMMERCE Reviewed on
  • (0)

    It was a very pleasant experience with Union bank from sanction disbursal and repayment services for education loan which I had taken for my daughters. Very cooperative attitude of BRS Nagar Branch and very quick service too. I will recommend this for others too

    Was this review helpful? Yes
    darshan took a Education Loan from UNION BANK OF INDIA Reviewed on
  • Good
    /images/common/default-unknown-person.png
    , cuddalore
    Validated User
    (0)

    I got the education loan from the Indian bank and the interest rate was around 8.5%. The loan amount got disbursed to my account within two months of time because of some delay. Documentation procedures were very much minimal with INDIAN Bank.

    Was this review helpful? Yes
    rajmohan took a Education Loan from INDIAN BANK Reviewed on
  • Validated User
    (0)

    Oriental Bank of Commerce, customer service is not so good, their responsiveness is also not that much good. But they sanctioned the requested amount of Rs.2.5 lakhs for the tenure of five years. At the time I was not aware of the interest rate, I took it without verifying but I hope it was nominal.

    Was this review helpful? Yes
    arijit took a Education Loan from ORIENTAL BANK OF COMMERCE Reviewed on
  • I had applied to SBI for an education loan for my studies abroad. I had applied 3 months in advance, but they took a very long time to complete the process. I was promised that upto 80% of the loan would be covered by the bank, but finally after 3 months they approved only 57% of the loan amount.

    Was this review helpful? Yes
    jason took a Education Loan from STATE BANK OF INDIA Reviewed on
  • Validated User
    (5)

    During the year 2008, I had taken education loan to do BE education. My loan amount was Rs.4.60 lakhs with tenure of eight years. Bank of India offered the interest rate of 11.5% it was floating interest rate. Still my loan is running, I am about to pay around Rs.50,000 as the loan amount.

    Was this review helpful? Yes
    hareesh took a Education Loan from BANK OF INDIA Reviewed on
  • Validated User
    (2)

    I have closed he education loan with the Bank of Baroda and the interest rate was around 11.25%. The service aspects were not much good like it was referred by my father. Processing charges were a kind of okay and it was not much costly.

    Was this review helpful? Yes
    animesh took a Education Loan from BANK OF BARODA Reviewed on
  • (5)

    while contacting you for first time, they present themselves as very convenient, but friends they are no good. they will just waste your time and could be the reason behind not paying the college fees on last day. after taking the basic documents they will say that do not worry, your fees will be paid in just one week. so, do not rely on them, because in the end your parents will have to arrange the money in order to pay your fees.

    Was this review helpful? Yes
    akram took a Education Loan from CREDILA FINANCIAL SERVICES Reviewed on
  • Fast process
    /images/common/default-unknown-person.png
    , indore
    Recommend Recommended by user
    Validated User
    (5)

    Central bank helped me lot on my studies, they gave me demand draft to make payment to my college. Interest rate was very high. I took the loan amount of Rs.2.5 lakhs with the tenure of four years and then I closed my loan on 2014, then I got my NOC from them.

    Was this review helpful? Yes
    apoorv took a Education Loan from CENTRAL BANK OF INDIA Reviewed on
  • I got the educational loan for the academic year 2012 - 2016. My course was completed by May 2016. I got a job on June 2016. At November 2016, the bank had taken money from account without any notification for the repayment of my educational loan. Whether this is legal?

    Was this review helpful? Yes
    shanmugasundari.s took a Education Loan from CANARA BANK Reviewed on
  • (4)

    Poorest service for the customers. Please go onto other banks the Manager is unaware of the conditions of the loan himself. Useless..got trapped. Other banks provide rate of interest based on ur work experience also while the manger at branch has no clue. Try sbi best I would say.

    Was this review helpful? Yes
    jatin took a Education Loan from UCO BANK Reviewed on
Page 1 of 32 1 2 3 4 5

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