With which bank or group can I collect an education loan?
You have several options for education loans from Indian banks and financial institutions. Major choices include:
- State Bank of India (SBI): Up to ₹3 crore; collateral-free up to ₹50 lakh for select institutions; interest from 6.90% p.a.; repayment up to 15 years.
- ICICI Bank: Up to ₹3 crore; collateral-free up to ₹2 crore; interest from 9.00% p.a.; flexible repayment.
- IDFC FIRST Bank: Up to ₹1.5 crore; collateral-free up to ₹75 lakh; interest from 9.5% p.a.; up to 15 years repayment.
- Punjab National Bank, Bank of Baroda, HDFC Bank, Axis Bank, Union Bank, Canara Bank: Typically up to ₹1 - 1.5 crore; collateral-free up to ₹7.5 - 10 lakh; interest rates and terms vary.
- NBFCs (e.g., HDFC Credila, Avanse): Higher collateral-free limits (up to ₹75 lakh); interest from 11% p.a.; flexible coverage.
Loan amounts, interest rates, and collateral requirements are subject to change. Consider these factors based on your needs.
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