List of interest rates of education loans in different banks

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.

Read: Problems Students Face When Taking an Education Loan in India

List of Education Loan interest rates

The following table shows the list of banks and their current interest rates.

Bank NameEducation 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 BankUp to 10 lakh 12.75% - 13.5%
Andhra BankUp 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 lakhUp 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 ServicesMore than 20 lakh Not Specified
Dena BankUp to 10 lakh10.25%
HDFC BankUp to 15 lakhNot 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 CommerceUp 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 BankUp to 10 lakhUp to 20 lakh12.70% (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.

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