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Students can explore an array of educational possibilities in the energetic city of Ludhiana. Whether a student wants to go overseas or continue their studies in India, a variety of education loan companies can now make their dreams come true. The available loan amounts, which can reach up to 2 crore, are customised to meet each borrower's needs and are based on a number of variables that are looked at throughout the loan application process.
The interest rates for education loans, an essential component of any loan, range from 8.5% to 13%, depending on the particular programme of study and the fascinating country that the students have selected as their destination. This flexibility guarantees that borrowers can select a plan that precisely matches their financial resources.
Financial support is kindly provided by public and commercial banks as well as Non-Banking Financial Companies (NBFCs). Now, let's examine the alluring deals that different lenders are offering.
Bank Name | Loan Amount | Processing Fee |
---|---|---|
State Bank of India |
Up to INR 50 lakh |
Nil - INR 10,000+Tax |
Axis Bank |
Up to INR 75 lakh (unsecured) |
Up to 2% of the amount+GST |
ICICI Bank |
Up to INR 1 crore |
Up to 2% of the amount +GST |
IDFC First |
Up to INR 30 lakh (unsecured) |
Up to 1.5% of the amount |
UBI |
Up to INR 1.5 cr (secured) Up to INR 40 lakh (unsecured) |
INR 5000 (refundable) |
HDFC Credila |
Up to INR 40 lakh |
1% + GST |
Auxilo |
Up to INR 65 lakh |
Up to 2% of the sanctioned loan amount |
InCred |
Up to INR 60 lakh |
0.75% - 1% of the sanctioned loan amount |
BOB |
INR 7.5 lakh - INR 1.5 cr |
1% (max. INR 10,000) |
Check Your Education Loan Eligibility
Bank Name | Loan Amount | Processing Fee |
---|---|---|
Up to INR 1.5 cr with collateral |
INR 10,000 |
|
Prime A - INR 1 cr Prime B - INR 40 lakh |
0.75% on the sanctioned loan amount |
|
Up to INR 2 cr (secured) Up to INR 1 cr (unsecured) |
Up to 0.75% to 1% + GST |
|
Up to INR 75 lakh without collateral |
Up to 1.5% of the sanctioned loan amount |
|
Up to INR 2 cr (secured) Up to INR 40 lakh (unsecured) |
INR 5000 |
|
Up to INR 75 lakh |
0.5% - 1% |
|
Up to INR 75 lakh |
1% - 1.5% |
|
Up to INR 65 lakh |
0.5% - 1.5% |
|
Up to INR 80 lakh |
1% - 2% |
|
Up to 100,000 USD |
5% (adjusted in the loan amount) |
|
Up to 100% cost to study |
Up to 5%, added to loan amount* |
|
Up to 1.5 cr with collateral |
INR 10,000 + GST |
These property-related documents are essential for large loan amounts that require collateral:
Bank Name | Interest Rate | Interest Rate Concession |
---|---|---|
State Bank of India |
Starts from 8.30% |
0.60% Business strategy discount 0.50% - for female students 0.50% - Rinn Raksha |
Axis Bank |
Starts from 11.5% |
0.5% - 2% |
ICICI Bank |
Starts from 10.5% -11% |
0.5% - 2% |
IDFC First |
Starts from 8.5% - 10% |
0.5% - 2% |
UBI |
Starts from 11.15% |
0.5% for female students 1% if the SI is paid in full |
HDFC Credila |
Starts from 10.25% - 12.75% |
- |
Auxilo |
Starts from 11% - 13.5% |
0.5% - 2% |
InCred |
Starts from 11% - 13.5% |
0.5% - 2% |
BOB |
Starts from 8.85% |
0.5% |
Check Your Education Loan Eligibility
Bank Name | Interest Rate | Interest Rate Concession |
---|---|---|
State Bank of India |
Starts from 10.15% |
0.5% concession in interest for female students 0.5% - Rinn Raksha |
Axis |
9.99% - 12.5% |
- |
ICICI |
10.25% - 12.5% |
- |
IDFC First |
9.5%-11% (secured) 11%-13% (unsecured) |
- |
UBI |
9.25% - 9.75% |
- |
HDFC Credila |
10.25% - 12.75% |
- |
Avanse |
10.75% - 13% |
- |
Auxilo |
11.5% - 13% |
- |
InCred |
11.85% - 13.25% |
- |
MPower |
12.99% - 15.99% |
- |
Prodigy |
11.5% - 13.5% |
- |
BOB |
9.7% (fixed) |
0.20% concession in interest for female applicants of non-premier institutes |
It is critical to thoroughly examine the loan terms and conditions to determine what expenses are covered in education loan. The lender may have certain rules or limits regarding how the loan might be used.
Calculate your Education Loan EMI
In Ludhiana and exploring education loan options? GyanDhan is your go-to platform, offering a pathway to secure financing for your higher studies in India or abroad. Our education loan experts help you in securing high loan amounts under favourable terms with a track record of higher loan approval rates. We also assist with pre-visa loan disbursement, crucial for your visa application. Best of all? Our expert, end-to-end service comes at absolutely no extra cost to you. Check your loan eligibility on GyanDhan now and take the first step towards realizing your academic dreams.
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ICICI Bank
Axis Bank
Union Bank
Prodigy
Auxilo
HDFC Credila
IDFC
InCred
MPower
Avanse
SBI
BOB