Educational loans are the best when it comes to fulfil your dreams in your academic career. All the top lender banks in the market are open for educational loans
STATE BANK OF INDIA
SBI offers educational loans to students and scholars of Indian nationality for pursuing higher education in India and abroad. For studies in India maximum loan amount is 10 lacs and for studies in aboard maximum loan amount is 30 lacs. Repayment of loan starts one year after the course is complete up to 15 years. Rate of interest is very low i.e. 11. 30% for loan amount up to 7.5 lacs and 11% for loan amount above 7.5 lacs. 0.50% concession is given in rate for women borrower. Up to 7.5 lacs as a security parent or guardian is to be taken as co borrower. Above 7.5 lacs along with a co borrower, tangible collateral security is to be provided. Nil processing fees.
AVANSE FINANCIAL SERVICES
Avanse has derived vast understanding of the education space is exclusively avanse offering educational loans across India and International universities for enhancing and improving the standard and making our country more competent. Vast variety makes Avanse of the best lenders in Educational loan cadre. Minimum Loan amount of 1, 00,000/- and there is no upper limit to the loan amount. The rate of interest is 11.50% . The Collateral for the loan is depending on the loan amount and the credit worthiness of the borrower. Processing fees of 1-2% is charged on case to case basis. Minimum repayment tenure is 12 months and maximum is 120 months including the duration of the course. Various repayment types are available with Avanse.
HDFC Bank offers educational loans to students with Triple benefits i.e Faster Loans, Competitive Pricing and Transparency. HDFC Bank offers loan up to 10 lacs and unsecured lending up to 7.5 lacs. The maximum repayment tenure is 15 years post moratorium period. Processing fees of 1% is charged on the loan amount for studying in India and 1.5% for studying in foreign countries. Student s interested in foreign education , HDFC bank offers 100% finance . HDFC Bank for its overseas education loans, partners with Credila –India first dedicated education loan specialist. Huge tax benefits under sec 80-E of income tax act can be availed Credila.
Axis bank provides educational loan up to 10 lacs for studies in India and 20 lacs for studies in abroad. Rate of interest is comparatively higher as compared to other lenders in the market. Axis Bank offers educational loan to students @ 15.50% onward.
0.50% concession in rate of interest is given for girl child. Bank charges nil processing fees and nil pre-payment charges. Third party guarantee or security may be asked in appropriate cases. Fast approval and quick sanction is an attractive feature offered by Axis Bank.
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