Why BankBazaar Education Loan?
  • Apply Online for Lowest Rates
  • Instant Eligibility Check
  • Quick Loan Sanction
Kolkata Education Loan Ratings
3.5 / 5.0 by 26 users

Fees & Charges

Promised Interest Rate

Customer Service


Kolkata Education Loan Reviews

"I have taken a educational loan from State bank of India ,the customer service was very awesome rate of interest they offered me was fine compared to others in the market. The documents have been collected from the branch directly it was been eight years I have taken the loan from State bank of India."

Ranajoy Singh Roy, Kolkata
More Reviews
Choose Loan Offers From

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.
Secure & Safe

Kolkata  Education Loan

Apply for Kolkata Education Loan online for lowest interest rate

We've identified the lowest interest rate quotes for your profile with great savings.

Rates & special offers displayed below are accurate & applicable ONLY for applications made on BankBazaar.com

  • 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.
  • loading..
Step 1 of 3

Kolkata Education Loan Overview

Kolkata 3.5 / 5.0 by 26 users  
Used this product? Write a review »
Kolkata Education Loan .

Kolkata Education Loan FAQs

  1. What are the courses in India for which education loans are available?

    Any of the following courses, as offered by recognized universities, is eligible for an education loan in India-

    • Professional courses including Engineering and Medicine
    • Management courses (both full time and part time)
    • ICWA, CA, CFA etc.
    • Courses conducted by IIMs, IITs, IISc, XLRI. NIFT,NID etc.
    • B.A/B.Com/M.A/M.Com/MCA/MCM etc.
    • Architecture, Agriculture studies, Fine Arts and Designing etc.
    • Hotel and Hospitality.
    • Courses such as SAP , ERP , GNIIT , Air Hostess Training programmes etc.
    • Distance learning programs and online certifications.
    • Degree/Diploma courses like Aeronautical, pilot training, shipping, etc.,
    • Aircraft Maintenance Engg, Pre-Sea Training courses and the like.
    • Nursing and Para Medical courses (includes admission via management quota).
    • Courses offered by reputed institutes that assure employment and are Govt. certified.
    • Courses offered in India by reputed and certified foreign universities.
    • All courses listed here- www.ugc.ac.in , www.education.nic.in and www.aicte-india.org
  2. What is the age restrictions for subscribing to an education loan?

    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.

  3. Aside from the fee payable to the school/college, what other expenses are covered by the loan?
    • Towards the purchase of books, uniforms, equipment and instruments.
    • Purchase of computers/laptops, if deemed necessary for the completion of the course.
    • Fees paid for Exams, Library, Laboratories, Hostel, etc.
    • Building fund, Caution deposit, Refundable deposit (must be supported by receipts/bills).
    • Costs incurred in travel, for studies abroad.
    • Additional costs that are required to successfully complete the course, including but not limited to, Study tours, Thesis work, Projects, etc.
  4. Does taking an education loan entitle me to any tax benefits?

    Not immediately. However, after you start repaying, you are free to deduct the loan interest amount from your total income when calculating tax.

  5. How does the bank track my educational progress through the course period?

    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.

Kolkata Education Loan Eligibility & Documentation


Kolkata Education Loan Interest RatesUpdated on

Details of Kolkata Education Loan


Education Loan Articles

  • Union Cabinet Minister Maneka Gandhi demands cheaper education loans for girl students
    With a view to promote higher education among girls students in the country, Maneka Gandhi has written a letter to to the HRD and Finance ministers, requesting them to cut the interest rates for education loans availed by female students. The Union Minister for Women & Child Development is seeking benefits on education loans under the much touted “Beti Bachao, Beti Padhao” program of the NDA government which aims to uplift and promote education for girls and bringing an end to female foeticide. In her letter to Smriti Irani and Arun Jaitley, the Union Minister has expressed her intent to make education loans more affordable so that girls can take up specialised courses. Parents generally shy away from taking a loan for daughter’s education, denying them the opportunity to pursue a course of their choice. With a concession in the interest rate on education loans, girl students can look forward to taking up higher education from an institute of their choice.
  • CM of HIMACHAL inaugurates Rajeev Gandhi Digital Vidyarthi Yojna
    Virbhadra Singh (Chief Minister of Himachal Pradesh) inaugurated the Rajeev Gandhi Digital Vidyarthi Yojna 2015-16, accomplishing the declaration he made in his recent Budget speech. Under this ambitious scheme unveiled at in Mandi, laptops and note books were given to the deserving students of classes 10 and 12, who sat the HP Board of School Education. This was a UPA Government initiative. The Chief Minister gave away laptops to 86 chosen students. They also plan to grant over 10,000 laptops the financial year 2015-16 to those students on whom an outlay of 18.32 lacs was being sustained. While addressing people gathered at the event, the minister briefed about the State Government’s considerable efforts to ensure quality education regardless of economic backgrounds. 'Mukhya Mantri Gyandeep Yojna' had also been declared which offers interest subsidy of four percent to every student who apply for education loan up to INR 10 lacs.
  • In Goa, 97% of education loan borrowers make repayments regularly.
    The Goa Chief Minister said that 97% of education loan borrowers have been repaying their debts in a timely manner. These figures relate to the interest-free education loans given to students, which also does not require any surety or security collateral. The Chief Minister was speaking at the Agnel Institute of Technology and Design (AITD) and Centre for Incubation and Business Acceleration in Assagao during an inaugural ceremony. The Goan Government allots Rs. 30 crores every year for education loans. The Chief Minister also said that investing in educational institutions across the state has proved to be very fruitful for the local population.
  • Court Rules in Favor of Students against Bank
    After their application for a 4-year educational loan was rejected by Canara Bank, two girls from Tuticorin sought the help of the court in 2014. The bank had rejected their application in 2012-13 as they had scored less than 60% marks in their Plus Two examinations. With the case going on for years, the bank had stated that the student’s course is ending by this year, therefore the case would not survive. But the judge has not accepted the bank’s submissions and has rejected “60% cut-off” as a reason for loan rejection. As the girls are in their final year, the bank’s branch manager has been directed to reconsider the loan application and sanction the loan for the last academic year of the course in accordance with the revised rules. This ruling should be carried out within two weeks from the receipt of the court order.
  • Avanse Financial Services to offer loans for schooling.
    As school fees skyrocket, Avanse Financial Services has come up with a new loan scheme to provide financing for schooling from Kindergarten to up to 12th standard. Avanse plans to target working parents whose children are studying in international schools affiliated to the International Baccalaureate based in Geneva, Edexcel and Cambridge International Examinations (CIE) based in the United Kingdom. Adding this to its existing education loan portfolio, Avanse is currently holding talks with international schools. A pilot will be launched within three months by Avanse. Customers going for financing for schooling can get custom-made loan packages and convenient EMI options. Avanse specialises in offering education loans for students pursuing education in India and abroad.
  • Bihar State Assembly approves education loans for Rs. 5 lakhs.
    The Bihar State Government has accepted the proposal put forward by the education department for granting student credit cards which will help avail education loans. As part of the seven resolves or Saat Nischay from the Chief Minister, this scheme was approved by the Bihar State Government. Around five lakh aspiring students would be presented with the credit card in order to pursue higher studies during the financial year of 2016-2017. An increase of 1 lakh students is expected every year. Students will have to register at the local offices and submit the required documents inclusive of ID proofs, address proofs, Aadhaar Card and qualification certificates. The Central Government would be the guarantor for 75% of the education loan amount and the State Government for the remaining 25%. The credit card scheme will be available for a period of five years to help students complete their higher education.
  • Banks are in a better position to vet foreign universities
    The end of 2014 witnessed a large number of students being deported from US universities. The reasons are unclear, but the common factor is that the universities were low profile such as NorthWestern Polytechnic University and Silicon Valley University. This also happen in 2011, where 6,500 Indian students were deported from Australia despite many of them being enrolled in accredited universities. These events result in shock, stress and a huge loss of money. To try to avoid such circumstances, Indian Bank Association has a list of 1,100 institutions that are accredited and pre-vetted. The list is not rigid but helps when seeking admission into a good college and while trying to get an educational loan. Also, check the employability after your course and the general placement record of your university. The type of degree chosen, the level of the course, and the specialisation also play an important role. If you choose to fund your studies abroad with an educational loan, banks will check applicable guidelines of a country and the immigration laws. Banks are also up to date on accredited universities as well as accreditation agencies. Each case is evaluated separately and you have a better chance of going abroad without much of the hassle.
  • Bhubaneshwar sees many new Universities and Reforms on Education Loan
    With the beginning of a brand new paradigm in higher education with introduction of Choice Based Credit System (CBCS) at the undergraduate level, the year 2015 would be remembered as a year of new universities. The Bhubaneswar government also upgraded three erstwhile colleges to universities - Gangadhar Meher University, Rama Devi Women's University and Khallikote Cluster University. The Odisha State Open University and VSS Institute of Medical Sciences (VIMSAR) also became functional with an upgraded status this year. Indian Institute of Management (IIM) at Sambalpur became operational this year and the Centre has also promised to establish Indian Institute of Science Education and Research by this year. The government has also recruited a significant number of faculty members for universities and offered liberal funding for their infrastructure upgradation. One of the biggest milestones in higher education in 2015 was that all universities and 32 autonomous colleges in the state introduced CBCS. Introduction of three-month short-term spoken English course for undergraduate students in over 25 state colleges to prepare job-ready student workforce is also one major milestone this year. The Odisha State Interest Subvention Scheme (OSISS) offers subsidy in education loan interest by 4 per cent for boys and six per cent by girls. This has encouraged students from the economically weaker sections to pursue professional and higher education.
  • Enlarging the access to Higher Education through Education Loans
    The Government is planning to offer schematic interventions that will subsequently overcome economic and social disadvantages to make higher education available for all. The Central Government is aiming to implement the Central Sector Plan Scheme named “Scheme on Interest Subsidy on Educational Loans" which aims to provide professional higher education for students from economically backward sections of the society. This scheme will offer full interest subsidy during the moratorium period of duration of the course plus a year. This loan scheme can be availed by students whose parent’s/guardian's’ annual income is not more than Rs.4.5 lakhs. Towards this, Rs.5501.36 crores have been released to National Scheduled Tribes Finance & Development Corporation (NSTFDC), National Safai Karmacharis Finance & Development Corporation (NSKFDC), National Scheduled Castes Finance & Development Corporation (NSCFDC) and Banks. Another education loan scheme aims at students from Jammu and Kashmir having a parental annual income of not more than six lakhs. The main aim of these education loan schemes introduced by the Central Government and the UGC is to offer education for all, especially professional higher education.
  • Lok Adalat in Trichy benefits education loan borrowers
    Education loan borrowers have benefitted in a huge manner through the Mega National Lok Adalat held in Trichy, recently. Around 35,334 cases were settled by the Lok Adalat, for a value of Rs. 23.35 crore. This included 980 non-performing assets cases, worth Rs.7.78 crore, 626 vehicle accident cases worth Rs.13.31 crore, 99 cheque bouncing cases worth Rs.51.08 lakh and 352 civil disputes worth Rs.99.21 lakh. Additionally, 31,625 traffic violation cases were also settled for Rs. 24.83 lakh. The Lok Adalat facilitated the settlement of education loans with special concessions. For example, a student had taken an education loan for Rs. 1.05 lakh from the Mannachanallur branch of Bank of Baroda. The Lok Adalat got in touch with the bank and reduced the loan repayment amount to Rs. 65,000

Education Loan Forum


 Kolkata  Education Loan Reviews
Page 1 of 3 1 2 3
  • (0)

    I have visited a branch of Allahabad Bank, IFSC- ALLA0211786, I am pursuing Btech in CSE from Lovely Professional University, Punjab, which is UGC approved. When I went for an education loan to this branch the manager is saying that he couldn't give me loan, he wants AICTE approved University. But according to AICTE act, there is no need of AICTE approval for technical education, if a university is already UGC approved. When I showed it to him, he just ignored and said he doesn't know this kind of act and he will not give me loan any way.

    Was this review helpful? Yes
    debasis took a Education Loan from ALLAHABAD BANK Reviewed on
    , kolkata
    Recommend Recommended by user
    Validated User

    I have taken a educational loan from State bank of India ,the customer service was very awesome rate of interest they offered me was fine compared to others in the market. The documents have been collected from the branch directly it was been eight years I have taken the loan from State bank of India.

    Was this review helpful? Yes
    ranajoy took a Education Loan from STATE BANK OF INDIA Reviewed on
  • Good service
    , kolkata
    Recommend Recommended by user
    Validated User

    I have taken Education Loan from Central Bank of India and my loan experience was good. I am not sure about the loan amount but the rate of interest was nominal when compared to other banks. The tenure of this loan is 7 years, documents were collected on time. There was no issues with the customer service, it was good and they responded on time.

    Was this review helpful? Yes
    bhujan took a Education Loan from CENTRAL BANK OF INDIA Reviewed on
    , kolkata
    Recommend Recommended by user
    Validated User

    Before 11 years I availed a Educational loan with the State Bank of India.The rate of interest was 10% as fixed was way high at that time.The loan got disbursed within a month The documentation is really huge with them.The service should be improved with them.Any updated status should be notify with the customers.They should clearly explain each and everything to the customers.

    Was this review helpful? Yes
    saptarshi took a Education Loan from STATE BANK OF INDIA Reviewed on
  • Its Excellent
    , kolkata
    Recommend Recommended by user
    Validated User

    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

    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
  • Great Experience
    , kolkata
    Recommend Recommended by user
    Validated User

    I have taken education loan with PNB, unfortunately I have missed some of the dues. First they asked me do the final settlement of my loan. Later on, they understood due to financial criteria I were missed my dues and they helped me to close my loan without any hassles, its a great support. PNB is really appreciable they helped me to get education by their loan product.

    Was this review helpful? Yes
    diwakar took a Education Loan from PUNJAB NATIONAL BANK Reviewed on
  • Average
    , kolkata
    Recommend Recommended by user
    Validated User

    The service offered by SBI was good in the initial stage.My repayment started from 2012 and at that time I was in search of job.I started to pay for education loan taken from Oct2015 but within that they have transferred the payment collection details to reliance and they were rushing me to make the full payment.

    Was this review helpful? Yes
    rajesh took a Education Loan from STATE BANK OF INDIA Reviewed on
  • Simple and good
    , kolkata
    Recommend Recommended by user
    Validated User

    In the year 2005, I took the education loan from Allahad bank. The process was very simple. I re payed the loan within two years after completing the education.The personal relationship with the bank was also good. Loan documents was send on time .

    Was this review helpful? Yes
    sudipta took a Education Loan from ALLAHABAD BANK Reviewed on
  • Need to lower interest rate!
    , kolkata
    Recommend Recommended by user
    Validated User

    Interest rate was considered to be high with Punjab and Sind bank and they are the only one to provide the educational loan at that time. My father took care of the entire loan process and the EMI amount was started in 2012. It would be nice if they lower the interest rate for the educational loan.

    Was this review helpful? Yes
    abhishek took a Education Loan from PUNJAB AND SIND BANK Reviewed on
  • Validated User

    My educational loan was done with United bank of India. I took it on 2007 and I have completed last year. Good thing is, Branch is near my home town which is very convenient for me. Easy to approach them in terms of educational loan. Staff were less and it would be great if they increase the number of employees.

    Was this review helpful? Yes
    kamalesh took a Education Loan from UNITED BANK OF INDIA Reviewed on
  • Validated User

    On 2008 I have taken my Educational loan from United bank of India. They have lots of documentary part. Very difficult to get loan from banks in terms of educational loan which is very secure. I am not happy with their service but I received my loan amount on time which was good in United bank of India.

    Was this review helpful? Yes
    surajit took a Education Loan from UNITED BANK OF INDIA Reviewed on
Page 1 of 3 1 2 3

Interest Rates

We're sorry. No offers were found. Based on your information, we are unable to find you an offer from any of our insurance partners. We invite you to return to BankBazaar.com to get an insurance for any of your other car Thank you for your using BankBazaar.com
  • This Page is BLOCKED as it is using Iframes.