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 Education Loan Ratings
4.0 / 5.0 by 356 users

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 Education Loan Reviews

"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."

Hareesh Kaiprath Kumar, Bangalore
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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 31 1 2 3 4 5
  • (0)

    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
    (1)

    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
    (1)

    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
  • (2)

    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
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    , indore
    Recommend Recommended by user
    Validated User
    (4)

    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
  • (4)

    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
  • (2)

    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
  • Validated User

    SBI charged me like a local financier on my education loan. I had taken an education loan for10 lakhs but the amount credited was only Rs. 9.5 lakhs they have taken other extra charges on my loan. Initially I applied for this loan for an interest rate of 12% but suddenly they increased for 18%. After receiving my loan completion letter only I came to know they have debited certain charges also the interest rate offered is 18% it is extremely high.

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

    I had taken an education loan during the year 2010 from Union Bank of India. My loan amount was 1.64 lakh, I had made some part payment on that. They had offered me good interest rate on education loan. The bank kept disbursing the funds on a yearly basis however interest is charged well before that, even before the loan amount is disbursed,

    Was this review helpful? Yes
    rachayya took a Education Loan from UNION BANK OF INDIA Reviewed on
  • Edu.loan
    /images/common/default-unknown-person.png
    , tonk
    Recommend Recommended by user
    (3)

    BANK OF BARODAEducation Loan I have taken a educational loan from Bank of Baroda earlier and it was a pretty long process. They have delayed to provide the loan. The documentation was normal and the disbursement was satisfactory. They were normal on the interest rate and charges.

    Was this review helpful? Yes
    kishan took a Education Loan from BANK OF BARODA Reviewed on
  • Validated User

    At present I had taken an educational loan from State bank of India and when I took this loan interest rate was around 14.5% and now its 13.5%. The total capital amount is around 1 lakh Rupees and their customer service is good one with them, also I have got the account through my friends referral, also they are providing every information in the first approach itself. Charges are some what lesser and the rate of interest is huge with them.

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

    My all problem has been completely solved by taking this loan and the other service my request has been completed please sir But not studied in this life I am students from in Kota .This problem is not solved . Thanks. Yogendra Meena (Student of B.tech)

    Was this review helpful? Yes
    yogendra took a Education Loan from BANK OF BARODA Reviewed on
Page 1 of 31 1 2 3 4 5

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