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 Education Loan Ratings
4.0 / 5.0 by 376 users

Fees & Charges

Promised Interest Rate

Customer Service

Responsiveness

 Education Loan Reviews

"The state bank of India provided me a educational loan within 2 days of time. The service is really good with SBI. The Equated Monthly Installments process was very good with SBI. They asked me to pay the Emi how much ever I can afford. The scheme of EMI is very good with SBI. The rate of interest is nominal with SBI. I am satisfied with the loan amount from SBI."

Ram Pravesh Yadav, Chittorgarh
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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 33 1 2 3 4 5
  • Excellent Service
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    , chittorgarh
    Recommend Recommended by user
    Validated User
    (0)

    The state bank of India provided me a educational loan within 2 days of time. The service is really good with SBI. The Equated Monthly Installments process was very good with SBI. They asked me to pay the Emi how much ever I can afford. The scheme of EMI is very good with SBI. The rate of interest is nominal with SBI. I am satisfied with the loan amount from SBI.

    Was this review helpful? Yes
    ram took a Education Loan from STATE BANK OF INDIA Reviewed on
  • Not smooth
    /images/common/default-unknown-person.png
    , hyderabad
    Recommend Recommended by user
    Validated User
    (0)

    I have an experience with IDBI bank for the educational loan. Actually to say, the entire loan process took two months as it is educational loan. The process was not smooth but it is little hectic. I had to visit the bank often. Moreover the interest rate was 11.25%.

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

    SBI education loan process was flexible, within the time they have disbursed the amount. I felt interest rate was high for the education loan, they offered me around 13 to 14% but for the car loan and other products they were offering around 7 to 8% of interest. It would be great if they reduce the interest rate for the education loan.

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

    Hi myself bharathi, I had taken my educational loan on 2013 3 year of my course it is a sum of 75000 rupees they promised me no interest for educational loan under 1 lakh and I'm eligible to apply the loan. In 2017 while demonetization I deposited 13000 in my savings account after 15 days I try to withdraw a sum of 2000 in ATM I found all the amount gets withdraw even there is no minimum balance in my account . I approached bank manager he replied indecently & said that is Done by bank for educational loan intrest. I asked while getting loan manager said no intrest for educational loan. He replied "you fool who I'll give u money without interest" and he said u have to repay 128753 rs with interest. So guys though they promise you that won't be any interest please get a written statement.

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

    My previous experience of UCO Bank was not good that much, but currently they have improved a lot. Their staff are very cooperative and good in service. They offered the interest of 7.5% it is nominal. Still loan is active condition, but there is no option to make EMI through online, I should directly visit to the bank and make the loan amount.

    Was this review helpful? Yes
    vasanth took a Education Loan from UCO BANK Reviewed on
  • (0)

    SBI provides 9.5% interest rate if you apply through this SBI global-Edvantage scheme launched recently. You can avail loan amount minimum of 20 lakhs to maximum of 1.5 crore. Simple Interest will be charged during Course Period + Moratorium Period. You can get time up to 15 years post-completion of your course to repay the SBI loan. Not all the SBI branches are able to process this scheme. Therefore, you can start the application process at https://goo.gl/dG27dd. Your application will be assigned to the respective branch near to you. Hope it is helpful!

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

    Hdfc Credila bangalore will just waste your time. They will call you multiple times to collect the documents and not update you about the status. I had very bad experience with Mallesh the deputy manager with Credila and when it was escalated to Adharsh who was regional manner I suppose straight away he told it's rejected because it's unsecured loan. When Mallesh had come for documents he gave all glass hopes that this will be approved within 4 working days and when it is time to apply for visa these guys don't even pick the call. Very much disappointed. I provide my email id as well here if someone wants to reach me. It's [email protected] be careful guys u will miss an opportunity if u depend on these guys.

    Was this review helpful? Yes
    david took a Education Loan from CREDILA FINANCIAL SERVICES Reviewed on
  • Validated User
    (0)

    Three years back, I have education loan from SBI with the interest rate of 13.25% it was nominal, documentation process was inconvenient, their customer support is not up to the mark, they have taken long days process the loan. I took the amount of Rs.2.05 lakhs, they asked me to pay the EMI after getting a job it was best part.

    Was this review helpful? Yes
    rohit took a Education Loan from STATE BANK OF INDIA Reviewed on
  • Validated User
    (1)

    SBI customer service is not good when I approached them for education loan. My loan amount was Rs. 1.80 for the tenure based on the period of my course, SBI gave me interest rate based on RBI but its was high . If I have any queries, I could not reach any branch, I would like to suggest them to be flexible to the customer's query.

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

    I had earlier taken a educational loan from State Bank of India. The process was good, but I had to visit the bank often to provide the documents. They had a good deal on the rate of interest and processing charges. The after loan services is also good.

    Was this review helpful? Yes
    rahul took a Education Loan from STATE BANK OF INDIA Reviewed on
  • Good Experienced
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    , bangalore
    Recommend Recommended by user
    Validated User
    (0)

    I taken education loan from Canara Bank, it was near to home. I directly went to the bank and got it. It was very helpful for my studies, I took the loan amount of 2 lakhs its great. Bank understand the customer's and provided the loan it was nice experience.

    Was this review helpful? Yes
    mahend took a Education Loan from CANARA BANK Reviewed on
  • Good Process
    /images/common/default-unknown-person.png
    , mumbai
    Recommend Recommended by user
    Validated User
    (0)

    Interest rate for the educational loan with Oriental Bank of Commerce is less than 12%. The tenure is for seven years. Even there is a facility to pay the loan amount at anytime. Customer service is good and I had no issues with OBC while taking the loan.

    Was this review helpful? Yes
    sreevalsa took a Education Loan from ORIENTAL BANK OF COMMERCE Reviewed on
Page 1 of 33 1 2 3 4 5

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