Top Indian banks offering an education loan for studying abroad

education loan for studying abroad

You are delighted to know that your dream of studying abroad has come true. You have got an admission you had worked so hard for. Also, you have decided to opt for an education loan for studying abroad to finance your studies overseas. The only thing that has been confusing you is which bank should you choose? There are a plethora of options for education loan for studying abroad with banks providing competitive interest rates and attractive schemes. You want to choose the best possible option but you aren’t aware of all the banks and the schemes offered. To help you make an informed decision, here is a list of top Indian banks providing education loan for abroad studies, the schemes available and their respective interest rates, loan amount, processing fee.

 

Abhyudaya Cooperative Bank Limited – Educational Loan under the scheme of Abhyudaya Gyan Vardhini

Interest Rate :

Male (Fixed):

  • Up to Amount 4 Lakhs: No Fixed Rate of Interest is Offered
  • Rs. 4 Lakh to Rs. 7.5 Lakh: No Fixed Rate of Interest is Offered
  • Above Rs. 10 Lakh: No Fixed Rate of Interest is Offered

Male (Floating):

  • Up to Rs. 10.00 Lakh @ ROI = PLR – 0.5% i.e.12.50% p.a.
  • Above Rs. 10.00 Lakh up to Rs. 20.00 Lakh @ ROI = PLR +0.50% i.e.13.00% p.a.

Female (Fixed):

  • Up to Amount 4 Lakhs: No Fixed Rate of Interest is Offered
  • Rs. 4 Lakh to Rs. 7.5 Lakh: No Fixed Rate of Interest is Offered
  • Above Rs. 10 Lakh: No Fixed Rate of Interest is Offered

Female (Floating):

  • Up to Rs. 10 Lakh @ ROI = PLR – 1% i.e.12.00% p.a
  • Above Rs. 10.00 Lakh up to Rs. 20.00 Lakh @ ROI = PLR i.e.13.00% p.a.

Maximum Loan Amount

  • Up to INR 20 Lakhs

Processing Fee

  • NIL

Apply to this bank for study abroad education loan here

 

Allahabad Bank – Education Loan

Interest Rate

Maximum Loan Amount

  • Up to INR 50 Lakhs

Processing Fee

  • Up to 20 Lac (Study abroad) – NIL
  • Above Rs 20 Lac (Study abroad) -0.10% Max Rs.5000)

Apply to this bank for study abroad education loan here

 

 

Andhra bank – Dr. Pattabhi Vidya Jyothi Scheme

Interest Rate

  •  Interest rate for Male (Floating) :-
  •  Upto Rs.7.50 lakhs = Base Rate+2.75% =12.75%
  •  Above Rs.7.50 lakhs = Base Rate +1.50% = 11.50
  •  Interest rate for Female (Floating):-
  •  Upto Rs.7.50 lakhs = Base Rate+2.75-0.50%= 12.25%
  •  Above Rs.7.50 lakhs =B.R +1.50%-0.50%=11.00%

Maximum Loan Amount

  • Up to INR 50 Lakhs

Processing Fee

  • NIL

Apply to this bank for study abroad education loan here

 

 

Axis Bank – Axis Bank Education Loan Scheme

Interest Rate

For Male Student

  • Up to Rs 4 Lakh – MCLR +7.00% (Floating)
  • Rs. 4 lakh to Rs. 7.5 lakh – MCLR +8.00% (Floating)
  • Above Rs 7.5 Lakh – MCLR +6.00% (Floating)

For Female Student

  • Up to Rs 4 Lakh – MCLR +6.50% (Floating)
  • Rs. 4 lakh to Rs. 7.5 lakh – MCLR +7.50% (Floating)
  • Above Rs 7.5 Lakh – MCLR +5.50% (Floating)

Maximum Loan Amount

  • Up to INR 30 Lakhs without collateral or upto 60 lacs with collateral

Processing Fee

  • Refundable Processing Fees for Studies Abroad

Apply to this bank for study abroad education loan here

 

Bank of Baroda – Baroda Scholar

Interest Rate

Interest rate for Male (Floating): List Specific

  • Upto Rs. 4 lacs: 9.60%
  • Between Rs. 4 lacs and Rs. 7.5 lacs: 9.60%
  • Above Rs. 7.5 Lacs: 9.60%

Interest rate for Male (Floating): Apart from list

  • Upto Rs. 4 lacs : 11.10%
  • Between Rs. 4 lacs and Rs. 7.5 lacs: 11.10%
  •  Above Rs. 7.5 Lacs: 11.10%

Interest rate for Female (Floating): List Specific

  •  Upto Rs. 4 lacs: 9.10%
  • Between Rs. 4 lacs and Rs. 7.5 lacs: 9.10%
  • Above Rs. 7.5 Lacs : 9.10%

Interest rate for Female (Floating): Apart from list

  • Upto Rs. 4 lacs : 10.60%
  • Between Rs. 4 lacs and Rs. 7.5 lacs: 10.60%
  • Above Rs. 7.5 Lacs: 10.60%

Maximum Loan Amount

  • Upto INR 60 Lacs for specific list

Processing Fee

  • 1% to be recovered upfront, the amount shall be refunded by way on disbursement of the loan

Apply to this bank for study abroad education loan here

 

Bank of India – BOI Star Education Loan Scheme

Interest Rate

  • Upto Rs.7.50 lacs – 3% above Base Rate, (presently 12.95 %
  • Above Rs.7.50 lacs – 2.50% above Base Rate, (presently 12.45 %)
  • Int. Concession of 0.50%p.a. for woman beneficiaries for limits up to Rs.50,000/- and 1% for limits over Rs.50,000/-
  • For Professional courses (like Engg./Medical/ Management, etc.) int. concession : 0.50% (Maximum under a) and b), above is 1%)

1% int. concession if interest is serviced during moratorium period, where repayment holiday is specified for interest/repayment under the scheme (concession available for moratorium period only)

Note: Simple interest during the repayment holiday/moratorium period. Penal interest @2% for loans above Rs.4 lakh for the overdue amount and overdue period

Maximum Loan Amount

  • Up to INR 20 Lakhs

Apply to this bank for study abroad education loan here

 

 

Bank of Maharashtra – Model Educational Loan Scheme

Interest Rate

Male (Floating):

  • For loans up to Rs. 4.00 lakh – Base Rate + 2.50 %
  • For loans above Rs. 4.00 lakh & upto Rs. 7.50 lakh – Base Rate + 2.00 %
  • Above Ra. 7.50 lakh – Base Rate + 1.25 %

Female (Floating):

  • For loans up to Rs. 4.00 lakh – Base Rate + 2.00 %
  • For loans above Rs. 4.00 lakh & upto Rs. 7.50 lakh – Base Rate + 1.50 %
  • Above Ra. 7.50 lakh – Base Rate + 0.75 %

Note: Concessions in the rate of interest on Education loans are available. Check the banks’ website for more details.

Maximum Loan Amount

  • Up to INR 20 Lakhs

Processing Fee

  • 0.50% of loan sanctioned for study abroad

Apply to this bank for study abroad education loan here

 

 

Bharatiya Mahila Bank Limited – BMB Saraswati Education Loan Scheme

Interest Rate

Male (Floating):

  • Up to Rs. 4 lacs: 11.95%
  • Between Rs. 4 lacs and Rs. 7.5 lacs: 12.45%
  • Above Rs. 7.5 Lacs: 12.20%

Female (Floating):

  • 1 % concession for all categories for girl student upto Rs 4.00 lac

Maximum Loan Amount

  • Up to INR 20 Lakhs

Processing Fee

  • NIL

Apply to this bank for study abroad education loan here

 

 

Canara Bank – IBAs Model Education Loan Scheme for study in India and Abroad

Interest Rate

  •  Loans upto Rs. 7.5 Lacs : MCLR(9.35%) + 2% = 11.35%
  •  Loans above Rs.7.50 lacs : MCLR(9.35%) + 1.80% = 11.15%
  •  For girl students concession of 0.50 % in rate of interest is available

Maximum Loan Amount

  • Upto INR 20 Lakhs

Note: Higher quantum of educational loans on course to course basis beyond Rs.20.00 lacs for study abroad can be considered subject to terms and conditions.

Processing Fee

  • NIL

Apply to this bank for study abroad education loan here

 

 

Central Bank Of India – Cent Vidyarthi

Interest Rate

  • Male: 09.95 % + 2.00%
  • Female: 09.95 + 1.50%

Maximum Loan Amount

  • Upto INR 20 Lakhs

Processing Fee

  • NIL

Apply to this bank for study abroad education loan here

 

 

Corporation Bank – Corp Vidya Loan Scheme

Interest Rate

Floating rate presently offered under the following slab linked to the MCLR.

  • Upto Rs. 7.50 Lakhs : 11.55% (MCLR+2%)
  • Above Rs.7.50 Lakhs : 11.90% ( MCLR+2.35%)

Note:

  •  Rate of interest are subject to change from time to time.
  •  Concession in rate of interest at 50 bps (inclusive of 25 bps available for SC/ST/Women) below the applicable card rate for Girl students.
  •  Interest concession of 0.50% is extended to Physically Challenged students.

Maximum Loan Amount

  • Up to INR 20 Lakhs

Processing Fee

  • Rs 2000/- + tax only for studies abroad to be refunded once the loan is availed, However amount of tax is not refunded.

Apply to this bank for study abroad education loan here

 

Dena Bank – Skill Loan Scheme ( Kaushal Wrin Yojana)

Interest Rate

Interest rate for Male (Floating)

  • MCLR + 1.50 = 11.10% payable within 3 years , & MCLR + 1.00 + 0.50 (TP) =11.10% payable above 3 Years
  • 1% Interest concession to be provided, if interest is serviced during moratorium period .

Interest rate for Female (Floating)

  • MCLR + 1.50 = 11.10% payable within 3 years , & MCLR + 1.00 + 0.50 (TP) =11.10% payable above 3 Years
  • 1% Interest concession to be provided, if interest is serviced during moratorium period .

Maximum Loan Amount

  • Up to INR 1.5 Lakhs

Processing Fee

  • Rs. 1000 (Refundable on availing Loan from the bank)

Apply to this bank for study abroad education loan here

 

 

Dena Bank – Dena Vidya Laxmi Education Loan Scheme for Pursuing Higher Education In India And Abroad

Interest Rate

Interest rate for Male and Female (Floating)

  • Student Admitted in Banks approved Educational Institutions MCLR = 9.60%
  • Student Admitted in A rated Educational Institutions : MCLR +1.05 + 0.50 (TP) =11.15%
  • Student Admitted in other Educational Institutions : MCLR +1.05 + 0.50 (TP) =11.15%
  • Repayable within 3 years MCLR + 1.55 = 11.15%

Note: 1% Interest concession for interest servicing during moratorium period

Maximum Loan Amount

  • Upto INR 20-25 Lakhs

 Processing Fee

  • Rs. 1000 (Refundable on availing Loan from the bank)

 

Apply to this bank for study abroad education loan here

 

Dombivli Nagari Sahakari Bank Limited -Vidyavardhini Education Loan Scheme

Interest Rate

Interest rate for Male

  • Above Rs.10.00 lacs to Rs.20.00 lacs 11.00% (Floating)
  • Above Rs.20.00 lacs 12.00% (Floating)

Interest rate for Female

  • Above Rs.10.00 lacs to Rs.20.00 lacs 10.50 % (Floating)
  • Above Rs.20.00 lacs 11.50% (Floating)

Maximum Loan Amount

  • Upto INR 40 Lakhs

Processing Fee

  • 0.50% of loan amount + applicable service tax

Apply to this bank for study abroad education loan here

 

 

Dombivli Nagari Sahakari Bank Limited – Suvidya Education Loan Scheme

Interest Rate

Male

  • Upto Rs. 4 lakh 10.50% (Floating)
  • Rs. 4 lakh to Rs. 20 lakh 11.00% (Floating)

Female

  • Upto Rs. 4 lakh 10.00% (Floating)
  • Rs. 4 lakh to Rs. 20 lakh 10.50% (Floating)

Maximum Loan Amount

  • Upto INR 20 Lakhs

Processing Fee

  • 0.50% of loan amount + applicable service tax

Apply to this bank for study abroad education loan here

 

Federal Bank – Federal Special Vidya Loan Scheme

Interest Rate

Male (Floating)

  • Upto Rs.4 lakh : 10.72% to 15.32%
  • Rs.4 lakh to Rs.7.5 lakh : 10.72% to 15.32%
  • Above Rs.7.5 lakh : 10.72% to 15.32%

Female (Floating)

  • Upto Rs.4 lakh : 10.72% to 15.32%
  • Rs.4 lakh to Rs.7.5 lakh : 10.72% to 15.32%
  • Above Rs.7.5 lakh : 10.72% to 15.32%Maximum Loan Amount

Maximum Loan Amount

  • Upto INR 20 Lakhs

Processing Fee

  • 0.25% of the loan amount subject to a maximum of Rs.2500/-

Apply to this bank for study abroad education loan here

 

 

GP Parsik Bank Ltd – Vidya Siddhi

Interest Rate

For Male Student

  • Upto Rs. 10 lakh -12.50 % pa (Fixed)
  • Above Rs. 10 lakh – 13.50 % pa (Fixed)
  • Up to Rs 10 Lakh -11% pa (Floating)
  • Above Rs 10 Lakh -12% pa (Floating)

For Female Student

  • Upto Rs. 10 lakh – 12.50% pa (Fixed)
  • Above Rs. 10 lakh – 13.50% pa (Fixed)
  • Upto Rs. 10 lakh – 11% pa (Floating)
  • Above Rs. 10 lakh – 12% pa (Floating)

Maximum Loan Amount

  • Upto INR 20 Lakhs

Processing Fee

  • NIL

Apply to this bank for study abroad education loan here

 

HDFC BANKEducation Loan

Interest Rate

  • For loan amount Upto Rs. 4.00 lacs Min: 10.25% – Max: 12.25%
  • For loan amount more Rs. 4.00 lacs Min: 10.25% – Max: 15.00%

Maximum Loan Amount

  • Upto INR 20 Lakhs – specific list

Processing Fee

  • NIL

Read More: HDFC Education loan: Interest rates and its Pros and Cons

Apply to this bank for study abroad education loan here

 

ICICI Bank – Education Loan

Interest Rate

Male (Floating):

  • Upto Amount 4 Lakhs – 13.60% (I Base + Applicable Margin (Currently: I BASE + 4.25 %)
  • Above Amount 4 Lakhs – 14.60% (I Base + Applicable Margin (Currently: I BASE + 5.25 %)

Female (Floating):

  • Upto Amount 4 Lakhs – 13.10% (I Base + Applicable Margin (Currently: I BASE + 3.75 %)
  • Above Amount 4 Lakhs – 14.10% (I Base + Applicable Margin (Currently: I BASE + 4.75 %)

Maximum Loan Amount

  • Upto INR 20 Lakhs

Processing Fee

  • NIL

Apply to this bank for study abroad education loan here

 

 

IDBI Bank – Education Loan to Physically Challenged Persons under NHFDC scheme

Interest Rate

  • 4% for Male Students and 3.50% for Female students

Maximum Loan Amount

  • Upto INR 20 Lakhs

Processing Fee

  • 1% of the loan amount subject to a maximum of Rs.5000/- plus applicable taxes to be collected for studies abroad and refunded at the time of disbursement

Apply to this bank for study abroad education loan here

 

IDBI Bank – Education Loan for Non-Vocational Courses

Interest Rate

  • Sanction amount up to Rs.10 lakhs:11.00% (BR+1%) Floating
  • Sanction amount above Rs. 10 lakhs:12.00% (BR+2%) Floating

Maximum Loan Amount

  • Upto INR 20 Lakhs

Processing Fee

  • 1% of the loan amount subject to a maximum of Rs. 5000/- plus applicable taxes to be collected for studies abroad and refunded at the time of disbursement

Apply to this bank for study abroad education loan here

 

 

Indian Bank – Revised IBA Educational Loan Scheme – 2011

Interest Rate

  •  Male – 12.25 %
  •  Female – 11.75 %

Maximum Loan Amount

  • Upto INR 25 Lakhs

Processing Fee

  • Rs.250/- per Rs.1.00 lakh of loan, with a minimum of Rs.250/-,will be collected while considering the application for loan. However, the same is refunded when the loan is availed by the student so that students who avail educational loans are spared of levy of processing charges.

Indian Overseas Bank – VidhyaJyothi Educational Loan

Interest Rate

For Male Student

  • Up to Rs 4 Lakh – Base Rate +2.00% (Floating)
  • Rs. 4 lakh to Rs. 7.5 lakh – Base Rate +1.05% (Floating)
  • Above Rs 7.5 Lakh – Base Rate + 1.00% (Floating)

For Female Student

  • Up to Rs 4 Lakh – Base Rate +2.00% (Floating)
  • Rs. 4 lakh to Rs. 7.5 lakh – Base Rate +1.05% (Floating)
  • Above Rs 7.5 Lakh – Base Rate +1.00% (Floating)

Maximum Loan Amount

  • Upto INR 40 Lakhs

Processing Fee

  • 0.57% (Foreign) and will be refunded once the student joins the course

Apply to this bank for study abroad education loan here

 

 

Indian Overseas Bank – IOB Scholar

Interest Rate

Interest rate for Male (Fixed) :

  • Upto Rs. 4 lakh : N.A.
  • Rs. 4 lakh to Rs. 7.5 lakh : N.A.
  • Above Rs. 7.5 lakh : N.A.

Interest rate for Male (Floating) :

  • Upto Rs. 4 lakh : MCLR + 2.50 %
  • Rs. 4 lakh to Rs. 7.5 lakh : MCLR +3.25%
  • Above Rs. 7.5 lakh : MCLR+1.75 %

Interest rate for Female (Fixed) :

  • Upto Rs. 4 lakh : N.A.
  • Rs. 4 lakh to Rs. 7.5 lakh : N.A.
  • Above Rs. 7.5 lakh : N.A.

Interest rate for Female (Floating) :

  • Upto Rs. 4 lakh : MCLR + 2.50 %
  • Rs. 4 lakh to Rs. 7.5 lakh : MCLR +3.25%
  • Above Rs. 7.5 lakh : MCLR+1.75 %

Maximum Loan Amount

  • Upto INR 30 Lakhs

 Processing Fee

  • Processing fee of 0.5 % with minimum of Rs. 500/- and maximum of Rs. 5,000/- may be collected to cover the documentation and other related expenses.

Apply to this bank for study abroad education loan here

 

 

Indian Overseas Bank – IOB Vidya Suraksha

Interest Rate

Interest rate for Male (Fixed) :

  • Upto Rs. 4 lakh : N.A.
  • Rs. 4 lakh to Rs. 7.5 lakh : N.A.
  • Above Rs. 7.5 lakh : N.A.

Interest rate for Male (Floating) :

  • Upto Rs. 4 lakh : MCLR + 2.00%
  • Rs. 4 lakh to Rs. 7.5 lakh : MCLR + 2.00%
  • Above Rs. 7.5 lakh : N.A.

Interest rate for Female (Fixed) :

  • Upto Rs. 4 lakh : N.A.
  • Rs. 4 lakh to Rs. 7.5 lakh : N.A.
  • Above Rs. 7.5 lakh : N.A.

Interest rate for Female (Floating) :

  • Upto Rs. 4 lakh : MCLR + 2.00 %
  • Rs. 4 lakh to Rs. 7.5 lakh : MCLR + 2.00 %
  • Above Rs. 7.5 lakh : N.A

Maximum Loan Amount

  • Upto INR 7.5 Lakhs

Processing Fee

  • NIL

Apply to this bank for study abroad education loan here

 

 

Indian Overseas Bank – Vidya Jyothi Educational Loan Scheme

Interest Rate

Interest rate for Male (Fixed) :

  • Upto Rs. 4 lakh : N.A.
  • Rs. 4 lakh to Rs. 7.5 lakh : N.A.
  • Above Rs. 7.5 lakh : N.A.

Interest rate for Male (Floating) :

  • Upto Rs. 4 lakh :
  • Rs. 4 lakh to Rs. 7.5 lakh :
  • Above Rs. 7.5 lakh : MCLR +3.00 %

Interest rate for Female (Fixed) :

  • Upto Rs. 4 lakh : N.A.
  • Rs. 4 lakh to Rs. 7.5 lakh : N.A.
  • Above Rs. 7.5 lakh : N.A.

Interest rate for Female (Floating) :

  • Upto Rs. 4 lakh :
  • Rs. 4 lakh to Rs. 7.5 lakh :
  • Above Rs. 7.5 lakh : MCLR +2.50 %

Maximum Loan Amount

  • Upto INR 40 Lakhs

Processing Fee

  • NIL

Apply to this bank for study abroad education loan here

 

 

Karur Vysya Bank – KVB Educational Loan

Interest Rate

Interest rate for Male (Floating) :

  •  Upto Rs. 4 lakhs =One year MCLR+3.10%
  •  Rs. 4 lakh to Rs. 7.5 lakh = One year MCLR+3.10%
  •  Above Rs. 7.5 lakh to Rs 10.00 Lakh =One year MCLR+2.85%
  •  Above Rs 10.00 Lakhs =One year MCLR+2.60%

Interest rate for Female (Floating):

  •  Upto Rs. 4 lakhs =One year MCLR+2.60%
  •  Rs. 4 lakh to Rs. 7.5 lakh = One year MCLR+2.60%
  •  Above Rs. 7.5 lakh =One year MCLR+2.35%
  •  Above Rs 10.00 Lakhs =One year MCLR+2.10%

Maximum Loan Amount

  • No maximum amount

Processing Fee

  • All those students who approach us for an education loan of more than Rs.4.00 lacs for studies abroad will be required to make a deposit of Rs.5000/- which will be adjusted against the contribution of margin money or the interest payable on the loan, in case the loan is availed by the applicant. If the applicant does not avail the loan within a period of 4 months of sanction of the loan, the amount will be forfeited

Apply to this bank for study abroad education loan here

 

 

Kotak Mahindra Bank Limited – Kotak Mahindra Bank Ltd

Interest Rate

Male-fixed ROI

  • ROI is linked to the base rate whichever is applicable
  • Upto 4 Lacs – base rate + 7.25%
  • Greater than 4lacs – base rate + 8.25%

Female-fixed ROI

  • ROI is linked to the base rate whichever is applicable
  • Upto 4lacs – base rate + 7.25%
  • Greater than 4lacs – base rate + 8.25%

Maximum Loan Amount

  • Upto INR 20 Lakhs

Processing Fee

  • NA

Apply to this bank for study abroad education loan here

 

 

New India Cooperative Bank Limited – Vidya Vikas Loan Scheme (Non IBA Model Scheme)

Interest Rate

Male (Fixed):

  • Upto Amount 4 Lakhs – 12.00% (With Interest moratorium) – 11.50%(Without Interest moratorium)
  • Rs. 4 lakh to Rs. 7.5 lakh – 12.50%(With Interest moratorium) – 12.00%(Without Interest moratorium)
  • Rs. 7.5 lakh to Rs. 10 lakh – 12.50%(With Interest moratorium) – 12.00%(Without Interest moratorium)
  • Above Rs. 10 lakh – 13.00% (With Interest moratorium) – 12.50%(Without Interest moratorium)

Male (Floating):

  • Upto Amount 4 Lakhs – 12.00% (With Interest moratorium) – 11.50%(Without Interest moratorium)
  • Rs. 4 lakh to Rs. 7.5 lakh – 12.50%(With Interest moratorium) – 12.00%(Without Interest moratorium)
  • Rs. 7.5 lakh to Rs. 10 lakh – 12.50%(With Interest moratorium) – 12.00%(Without Interest moratorium)
  • Above Rs. 10 lakh – 13.00% (With Interest moratorium) – 12.50%(Without Interest moratorium)

Female (Fixed):

  • Upto Amount 4 Lakhs – 12.00% (With Interest moratorium) – 11.50%(Without Interest moratorium)
  • Rs. 4 lakh to Rs. 7.5 lakh – 12.50%(With Interest moratorium) – 12.00%(Without Interest moratorium)
  • Rs. 7.5 lakh to Rs. 10 lakh – 12.50%(With Interest moratorium) – 12.00%(Without Interest moratorium)
  • Above Rs. 10 lakh – 13.00% (With Interest moratorium) – 12.50%(Without Interest moratorium)

Female (Floating):

  • Upto Amount 4 Lakhs – 12.00% (With Interest moratorium) – 11.50%(Without Interest moratorium)
  • Rs. 4 lakh to Rs. 7.5 lakh – 12.50%(With Interest moratorium) – 12.00%(Without Interest moratorium)
  • Rs. 7.5 lakh to Rs. 10 lakh – 12.50%(With Interest moratorium) – 12.00%(Without Interest moratorium)
  • Above Rs. 10 lakh – 13.00% (With Interest moratorium) – 12.50%(Without Interest moratorium)

Maximum Loan Amount

  • Upto INR 20 Lakhs

Processing Fee

  • 1 % of Loan Amount

Apply to this bank for study abroad education loan here

 

 

Oriental Bank Of Commerce – Oriental Bank Of Commerce

Interest Rate

For Male:

  • Upto Rs 4 Lacs – BR + 2.5 %
  • Between Rs 4 Lacs to Rs 7.5 Lacs – BR + 3 %
  • Above Rs 7.5 Lacs – BR + 1.75 %
  • In case loan above 4.00 lacs upto 7.50 lacs and Immovable Property or Tangible Assets is offered then ROI shall be BR +1.75% (Present effective BR is 10.00%)

For Female:

  • Upto Rs 4 Lacs – BR + 2 %
  • Between Rs 4 Lacs to Rs 7.5 Lacs – BR + 2.5 %
  • Above Rs 7.5 Lacs – BR + 1.25 %
  • In case loan above 4.00 lacs upto 7.50 lacs and Immovable Property or Tangible Assets is offered then ROI shall be BR +1.75% (Present effective BR is 10.00%)

Maximum Loan Amount

  • Upto INR 1 crore

Processing Fee

  • 1% of loan amount to be recovered upfront, subject to minimum of Rs. 10000/- plus service tax if any. The process fee (excluding service tax if paid to Government) shall be refunded by way of credit to the loan account on availment of loan in borrowers loan account.

Punjab And Sind Bank – Model Education Loan Scheme for pursuing higher education in India and Abroad

Interest Rate

For Male Borrowers: (Floating)

  • Upto Rs 4 lacs: 10.75%
  • Between Rs 4 lacs to Rs 7.5 lacs: 10.75%
  • Above Rs 7.5 lacs: 10.25%

For Female Borrowers: (Floating)

  • Upto Rs 4 lacs: 10.25%
  • Between Rs 4 lacs to Rs 7.5 lacs: 10.25%
  • Above Rs 7.5 lacs: 9.75%

Processing Fee

  • Borrower to deposit Rs. 2000/- (for studies abroad) in lieu of Processing fee, in Saving account (to be kept under reserve, withdrawal thereof may be allowed to the borrower only after full availment of the loan. Otherwise the same be recovered as processing fee.

Apply to this bank for study abroad education loan here

 

 

Punjab National Bank – PNB Udaan

Interest Rate

Interest rate for Male (Floating)

  • Upto Amount (in Rs.): Possible Values could be:
  • 7.5 lacs :- MCLR+2%
  • Others Above Rs. 7.5 Lacs :- MCLR+2.60%

Loan for pursuing education from premier foreign Universities and educational Institutes

  • Upto Rs 7.50 lacs – MCLR+0.60%
  • Others above Rs 7.50 lacs – MCLR+0.10%

Note: For Loans where 100% tangible collateral security interest will be MCLR+1.10%

Interest rate for Female (Floating)

  • Rebate of 0.50% in roi permitted to women beneficiaries for outstanding upto rs.10.00 lac and 0.25% for outstanding above rs.10.00 lac. However at no time ROI should be below Base Rate/ MCLR

Maximum Loan Amount

  • Upto INR 40 Lakhs. Higher amount may be on considered on merit

Processing Fee

  • NIL

Apply to this bank for study abroad education loan here

 

 

RBL Bank Limited – Education Loan

Interest Rate

Interest rate for Male (Floating)

  • Upto Rs. 4 lacs: Base + 5%
  • Between Rs. 4 lacs and Rs. 7.5 lacs: Base + 6%
  • Above Rs. 7.5 Lacs: Base + 4%

Interest rate for Female (Floating)

  • Upto Rs. 4 lacs: Base + 5%
  • Between Rs. 4 lacs and Rs. 7.5 lacs: Base + 6%
  • Above Rs. 7.5 Lacs: Base + 4%

Maximum Loan Amount

  • Upto INR 20 Lakhs

Processing Fee

  • NIL

Apply to this bank for study abroad education loan here

 

 

Saraswat Cooperative Bank Limited – Saraswati Education Loan Scheme

Interest Rate

Interest rate for Male

  • Upto Rs. 4 lakh 11.75% (Floating)
  • Rs. 4 lakh to Rs. 7.5 lakh 11.75% (Floating)
  • Above Rs.7.5 lacs lacs 11.75% (Floating)

Interest rate for Female

  • Upto Rs. 4 lakh 11.25% (Floating)
  • Rs. 4 lakh to Rs. 7.5 lakh 11.25% (Floating)
  • Above Rs.7.5 lacs lacs 11.25% (Floating)

Maximum Loan Amount

  • Upto INR 50 Lakhs

Processing Fee

  • 0.5% of loan amount

Apply to this bank for study abroad education loan here

 

 

State Bank Of Bikaner And Jaipur – SBBJ Education Loan Scheme

Interest Rate

 Male (Floating):

  • Regular loan upto Rs. 4.00 lacs – 3% above the base rate (9.95%), effective rate @12.95%
  • Above Rs. 4.00 lacs – 2.75% above the base rate (9.95%), effective rate @12.70%

Female (Floating):

  • 50bps lower than that applicable to male students across all categories
  • Loans to study in prime Institutions :
  • 1.50% above current base rate ; effective rate @11.4%

Maximum Loan Amount

  • Upto INR 30 Lacs

Processing Fee

  • NIL

Apply to this bank for study abroad education loan here

 

 

State Bank Of Hyderabad – Education Loan

Interest Rate

Male (floating)

  • For Upto 400000 @ 12.45 %
  • Above 400000 @ 12.95 %

Female (floating)

  • For Upto 400000 @ 11.95 %
  • Above 400000 @ 12.45%

Maximum Loan Amount

  • Upto INR 20 Lakhs

Processing Fee

  • Processing charging of Rs.1,000 /- would be collected in all cases for studies abroad at the time of handing over the sanction letter.

Note:

Treatment of processing charges would be as under:

If the loan is availed:

  • Refund to the student for limits of Rs.4.00 lakhs and below
  • Appropriate towards students margin for limits of above Rs.4.00 lakhs

If the loan is not availed after the sanction:

  • Appropriate to Banks commission account in all cases irrespective of the loan amount.

Apply to this bank for study abroad education loan here

 

 

State Bank of India – SBI Student Loan Scheme

Interest Rate

 For Male Students :

  • Upto Rs. 7.5 Lacs – 10.00% p.a. as on 01.01.2017*
  • Above Rs. 7.5 lacs – 10.75% p.a. as on 01.01.2017*

For Female Students :

  • Upto Rs. 7.5 Lacs – 9.50% p.a. as on 01.01.2017*
  • Above Rs. 7.5 lacs – 10.25% p.a. as on 01.01.2017*

Note: Concession: 1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration

Maximum Loan Amount

  • Upto INR 20 Lakhs

Processing Fee

  • NIL

Apply to this bank for study abroad education loan here

 

Read More: SBI education loan for abroad studies and application form details

State Bank of India – Global Edvantage Loan Scheme

Interest Rate

 For Male Students : 10.15% p.a. as on 01.03.2018

For Female Students : 9.65% p.a. as on 01.03.2018

Note: Concession: 1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration

Maximum Loan Amount

  • Upto INR 1.5 Cr

Processing Fee

  • 10,000 INR

Apply to this bank for study abroad education loan here

State Bank Of Mysore – My Bank Scholar

Interest Rate

For Male Student(Floating)

  • Up to Rs. 4 Lacs:-12.40%
  • Rs.4 lacs to 7.5 lacs:-12.40%
  • Above Rs.7.50 lacs:-11.40%

For Female Student(Floating)

  • Upto Rs.4 lacs to 7.5 lacs:-11.90%
  • Above Rs.7.50 lacs:-10.90%

Maximum Loan Amount

  • Upto INR 30 Lakhs – List Specific

Processing Fee

  • NIL

Apply to this bank for study abroad education loan here

 

State Bank Of Patiala – SBP-Education loan scheme

Interest Rate

Interest rate for Male (Floating)

Interest rate for Female (Floating)

Maximum Loan Amount

  • Upto INR 20 Lakhs

Processing Fee

  • NIL

Apply to this bank for study abroad education loan here

 

State Bank of Travancore – SBT Career Loan

Interest Rate

Interest rate for Male (Floating)

  • For CIBIL score 800 and above : 2.40% above 1 year MCLR rate
  • For CIBIL score 700-800 and applicants with nom CIBIL score :2.65% above 1 year MCLR rate
  • For CIBIL score below 700 2.90% above 1 year MCLR rate

Interest rate for Female (Floating)

  • For CIBIL score 800 and above : 2.40% above 1 year MCLR rate
  • For CIBIL score 700-800 and applicants with nom CIBIL score :2.65% above 1 year MCLR rate
  • For CIBIL score below 700 2.90% above 1 year MCLR rate

Maximum Loan Amount

  • Upto INR 15 Lakhs

Processing Fee

  • 0.50% of loan amount, Maximum- Rs 5000/-

Apply to this bank for study abroad education loan here

 

State Bank of Travancore – IBA Model Education Loan Scheme

Interest Rate

Interest rate for Male (Floating)

  • Upto Rs.4 lakh :3.85% above SBT one year MCLR
  • Rs.4 lakh to Rs.7.5 lakh:2.85% above SBT one year MCLR
  • Above Rs.7.5 lakh:1.85% above SBT one year MCLR

Interest rate for Female (Floating)

  • Upto Rs.4 lakh :3.35% above SBT one year MCLR
  • Rs.4 lakh to Rs.7.5 lakh: 2.35% above SBT one year MCLR
  • Above Rs.7.5 lakh:1.35% above SBT one year MCLR

Maximum Loan Amount

  • Limited by actual Course Expenditure

Processing Fee

  • Up to Rs 400000- 0.5%, (Refundable on availing the first installment)
  • Above Rs 400000- 0.4%, (Refundable on availing the first installment)

Apply to this bank for study abroad education loan here

 

State Bank of Travancore – Non- IBA Management Quota Education Loan Scheme

Interest Rate

Male (Floating)

  • Upto Rs.4 lakh :13.70%
  • Rs.4 lakh to Rs.7.5 lakh:12.7%
  • Above Rs.7.5 lakh:11.7%

Female (Floating)

  • Upto Rs.4 lakh :13.20%
  • Rs.4 lakh to Rs.7.5 lakh:12.2%
  • Above Rs.7.5 lakh:11.2%

Maximum Loan Amount

  • Diploma including PG Diploma Rs. 200000
  • Engineering Rs.400000
  • Professional BSc Courses Rs. 300000
  • BSc Paramedical Courses Rs.300000
  • Masters in Professional Courses Rs.300000
  • Agricultural and allied Courses Rs.400000
  • MBBS- India Rs.1000000
  • MBBS- Abroad Rs.2000000

Processing Fee

  • Up to Rs 400000- 0.5%,
  • Above Rs 400000- 0.4%

Apply to this bank for study abroad education loan here

 

Syndicate Bank – Syndvidya

Interest Rate

Male (Flexible) :

  • Up to Rs. 4.00 Lakh–B R+1.50= 11.50%
  • Above Rs. 4.00 lakh to Rs. 7.50 lakh= B R+1.75= 11.75%
  • Above Rs.7.50lakh BR+2.75 =12.75%

Female (Flexible):

  • Up to Rs. 4.00 Lakh–B R+1.00= 11.00%
  • Above Rs. 4.00 lakh to Rs. 7.50 lakh= B R+1.25= 11.25%
  • Above Rs.7.50lakh BR+2.25=12.25%

Maximum Loan Amount

  • Rs. 40 lakhs depending on opted courses and selected institutions.

Processing Fee

  • NIL

Apply to this bank for study abroad education loan here

 

Syndicate Bank – SyndSuperVidya

Interest Rate

Male (flexible):

  • Base Rate +0.50. (additional int @ 1% will be charged if the interest is not serviced during study period/moratorium).

Female (flexible):

  • 0.50% concession is allowed to female students.

Maximum Loan Amount

  • Upto INR 20 Lakhs

Processing Fee

  • NIL

Apply to this bank for study abroad education loan here

 

The Cosmos Co-Operative Bank Limited – Cosmo Education Loan Scheme

Interest Rate

For Male Student

  • Abroad – 12.50% pa (Floating)

For Female Student

  • Abroad – 12.00% pa (Floating)

Maximum Loan Amount

  • Upto INR 20 Lakhs

Processing Fee

  • 1% of loan amount

Apply to this bank for study abroad education loan here

 

UCO Bank – UCO Education Loan

Interest Rate

  • Upto Rs.7.50 lacs: Base Rate + 2.50% i.e. 12.20% p.a.(9.70+2.50).
  • Above Rs.7.50 lacs: Base Rate + 2.25% i.e. 11.95% p.a.(9.70+2.25).

Maximum Loan Amount

  • Upto INR 20 Lakhs

Processing Fee

  • NIL

Apply to this bank for study abroad education loan here

 

Union Bank of India – Union education

Interest Rate

For male student

  • Up to Rs 7.50 Lakh 12.25% (fixed)
  • Above Rs 7.50 Lakh 12.00% (fixed)

For female student

  • Up to Rs 7.50 Lakh – 11.75% (fixed)
  • Above Rs 7.50 Lakh – 11.50% (fixed)

Maximum Loan Amount

  • Upto INR 20 Lakhs

Note: Higher quantum of loan can be considered on case to case by higher authority

Processing Fee

  • NIL

Apply to this bank for study abroad education loan here

 

United Bank of India – United Education Loan

Interest Rate

Interest Rate for Male (Floating)

  • Upto Rs. 4.00 lac : BR + 3.35% i.e. 13.25% p.a.
  • Above Rs.4.00 lac : BR + 3.60% i.e. 13.50% p.a.
  • Above Rs. 7.50 lac : BR +2.10% i.e. 12.00% p.a.

Interest Rate for Female (Floating)

  • 0.50% concession from card rate

Maximum Loan Amount

  • Upto INR 20 Lakhs

Apply to this bank for study abroad education loan here

 

United Bank of India – United Education Loan Under Management Quota

Interest Rate

Interest Rate for Male (Floating)

  • Upto Rs. 4.00 lac : BR + 3.35% i.e. 13.25% p.a.
  • Above Rs.4.00 lac : BR + 3.60% i.e. 13.50% p.a.
  • Above Rs. 7.50 lac : BR +2.10% i.e. 12.00% p.a.

Interest Rate for Female (Floating)

  • 0.50% concession from card rate

Maximum Loan Amount

  • Upto INR 20 Lakhs

Processing Fee

  • 0.20% of loan amount.

Apply to this bank for study abroad education loan here

 

Vijaya Bank – IBA Model Education Loan -Abroad

Interest Rate

Male (floating) :

  • Upto & inclusive of 400000 @ 1 YEAR MCLR + 2.00% = 10.65 %
  • Above 400000 upto & inclusive of 750000 @ 1 YEAR MCLR + 2.00% = 10.65 %
  • Above 750000 @ 1 YEAR MCLR + 1.85% = 10.50%

Female (floating) :

  • Upto & inclusive of 400000 @ 1 YEAR MCLR +1.50%= 10.15 %
  • Above 400000 upto & inclusive of 750000 @ 1 YEAR MCLR +1.50%= 10.15 %
  • Above 750000 @ 1 YEAR MCLR + 1.35% = 10.00 %

Maximum Loan Amount

  • Upto INR 20 Lakhs

Processing Fee

  • NIL

Apply to this bank for study abroad education loan here

 

Want to compare more? See: Comparison between public and private sector banks in India

 

NOTE: WeMakeScholars is an organisation supported by the IT Ministry, Govt of India. Their motive is to offer unbiased education loan support to students who are planning for studying abroad. They are associated with 14+ banks (Public/Pvt/NBFC) in India and help you get the best education loan matching your profile, either with/ without collateral.

If you are an aspiring student applying for an abroad education loan, you can request a callback from the WeMakeScholars team. The financial officer will get back to you and guide you until sanction. Please note there is NO fee charged by WeMakeScholars. Being a Digital India campaign supported organisation, all the services are at free of cost.

 

 

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A passionate, dedicated and avid techie who also likes to read, write, learn and travel.

 

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