The
cost of the education in India and abroad is increasing as the years go
by. Nowadays education loan is important for most students to pursue
his higher education in India and abroad too. The students who plan to
rely on education loans to pursue their professional courses in India
and abroad, have to look at the different banks and all their different
interest rates, before selecting one which will suit their needs. The
education loan amount differs for Indian courses and the courses in
abroad. The rate of interest also differs from bank to bank.
The following table shows the list of banks and their current interest rates.
| Bank Name | Education Loan for India Courses | Education Loan for Abroad Courses | Interest Rate |
| Axis Bank | Up to10 lakh | Up to 20 lakh | 17.25% - 16.25% |
| Allahabad Bank | Up to 10 lakh | 12.75% - 13.5% | |
| Andhra Bank | Up to 7.5 lakh | Not Specified | |
| Bank of Baroda | Up to10 lakh | Up to 20 lakh | 12.75% (up to Rs 4 lakh), 12% ( above Rs 4 lakh ) |
| Bank of India | Up to10 lakh | Up to 20 lakh | 13.25% (loan up to 7.50 lakh); 12.75% ( above Rs 7.50 lakh) |
| Canara Bank | Up to10 lakh | Up to 20 lakh | Not Specified |
| Corporation Bank | Up to10 lakh | Up to 20 lakh | Not Specified |
| Central Bank of India | Up to10 lakh | Up to 20 lakh | 12.25% for male, 11.75% for female and SC/ST & IIM/IIT Students |
| Credila Financial Services | More than 20 lakh | Not Specified | |
| Dena Bank | Up to 10 lakh | 10.25% | |
| HDFC Bank | Up to 15 lakh | Not Specified | |
| IDBI Bank | Up to10 lakh | Up to 20 lakh | 11.25% (up to Rs 10 lakh India, 20 lakh abroad); 12.25% (above Rs 10 Lac India, 20 lakh abroad) |
| Indian Bank | Up to10 lakh | Up to 20 lakh | 12.50% (up to Rs 7.50 lakh); 12.50% ( above Rs 7.50 lakh) |
| Indian Overseas Bank | Up to10 lakh | Up to 20 lakh | Not Specified |
| Oriental Bank Of Commerce | Up to 7.5 lakh | 10.25% - 14.25% | |
| Punjab National Bank | Up to10 lakh | Up to 20 lakh | 12.75% (up to Rs 4 lakh); 13.75% ( above Rs 4 Lac to 7.5 lakh); 13.25% (loans above 7.5 lakh) |
| State Bank of India | Up to10 lakh | Up to 20 lakh | 13.50% (up to Rs 4 Lac), 13.75% ( loan between Rs 4 lakh - 7.50 lakh); 11.75% ( above Rs 7.50 lakh) (0.50% concession in interest for girl students) |
| Syndicate Bank | Up to10 lakh | Up to 20 lakh | For loans up to Rs.4.00 lakhs -11.75%For loans above Rs.4.00 lakhs - 12.25% |
| Union Bank of India | Up to10 lakh | Up to 20 lakh | 12.50%(Boys),12.00%(Girls) (up to Rs 7.5 Lac); 12.25%(Boys), 11.75%(Girls) ( above Rs 7.50 Lac) |
| United Bank of India | Up to10 lakh | Up to 20 lakh | 12.25% (up to Rs 4 lakh); 13.00% p.a. (above Rs 4 lakh), 12.25% (above Rs 7.5 lakh) |
| Vijaya Bank | Up to10 lakh | Up to 20 lakh | Not Specified |
| Uco Bank | Up to 10 lakh | Up to 20 lakh | 12.70% (up to Rs 7.50 lakh); 12.45% (above Rs 7.50 lakh) |
The list is not comprehensive. The interest rate may vary by market stability.