Education Loan: Interest Rates: Overview
Lending loans for educational purposes is a part of the priority sector lending activity for Indian banks. The interest rates offered by banks are:
- Fixed interest rate
- Floating interest rate
Tools and Calculators
Floating or Fixed Interest Rate Calculator
Use this calculator to find out whether you should opt for a fixed or floating interest rate on your home loan.
Interest on Rate of Return Calculator
This calculator shows you the actual interest rate that you will pay/are paying on your loan, given the loan amount, tenure and interest rate.
The loan amortization calculator amortizes your repayment
i.e. it segregates your EMIs into principal and interest components.
Education Loan Interest Rate as on Nov 21, 2008
 |
 |
|
|
|
|
 |
|
Banks | Education Type | Interest Rate | Repayment | Cost Covered | |
|---|---|---|---|---|---|---|
|
Allahabad Bank | Study in India | 11.5 - 12.25 | Repayment starts 1 year after course completion/ 6 months after obtaining employment (whichever earlier) | Fee payable to College/ School/ Hostel, Examination/ Library/ Laboratory Fee, Purchase of Books/ Equipments/ Instruments/ Uniforms, Caution Deposit/ Building Fund/ Refundable Deposit supported by Bills/ Receipts of the Institution, Travel Expenses, Purchase of Computers, Insurance premium for student borrower, Study Tours, Project Work, and Thesis | |
|
Allahabad Bank | Study Abroad | 11.5 - 12.25 | Repayment starts 1 year after course completion/ 6 months after obtaining employment (whichever earlier) | Fee payable to College/ School / Hostel, Examination/ Library/ Laboratory Fee, Purchase of Books/ Equipments/ Instruments/ Uniforms, Caution Deposit/ Building Fund/ Refundable Deposit supported by Bills/ Receipts of the Institution, Travel Expenses/ Passage Money, Purchase of Computers, Insurance premium for student borrower, Study Tours, Project Work and Thesis | |
|
Andhra Bank | Study in India | 12.0 - 13.75 | Fee payable to Tuition, Hostel, Examination, books, project work, study tours, refundable deposits | |
|
|
Andhra Bank | Study Abroad | 12.0 - 13.75 | Fee payable to Tuition, Hostel, Examination, books, project work, study tours, refundable deposits, air passage and maintenance | |
|
|
Axis Bank | Study in India | 15.75 | Tuition fees, hostel charges (if any), cost of books, etc | |
|
|
Axis Bank | Study Abroad | 15.75 | Tuition fees, hostel charges (if any), cost of books, etc | |
|
|
Bank of Baroda | Study in India | 13.25 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Fees payable to College / Examination / Library / Laboratory / Hostel / Purchase of books / equipments / instruments, Purchase of Computer / Caution deposit / building fund | |
|
Bank of Baroda | Study Abroad | 13.25 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Fees payable to College / Examination / Library / Laboratory / Hostel / Purchase of books / equipments / instruments, Purchase of Computer / Caution deposit / building fund | |
|
Bank of India | Study in India | 11.25 - 12.0 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Fee payable to college / hostel / Examination / Library / Laboratory / Purchase of books / equipments / instruments / Caution deposit / building fund / Purchase of computer | |
|
Bank of India | Study Abroad | 11.25 - 12.0 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Fee payable to college / hostel / Examination / Library / Laboratory / Purchase of books / equipments / instruments / Caution deposit / building fund / Purchase of computer | |
|
Bank of Maharashtra | Study in India | 12.0 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Tuition fees, hostel expenses, purchase of books / equipments / instruments | |
|
Bank of Maharashtra | Study Abroad | 12.0 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Tuition fees, hostel expenses, purchase of books / equipments / instruments, travel expense | |
|
Canara Bank | Study in India | 13.5 | Course fees, purchase of books, equipments, instruments, payment of hostel fees, examination fees | |
|
|
Canara Bank | Study Abroad | 11.25 | Course fees, purchase of books, equipments, instruments, payment of hostel fees, examination fees, study tours, passage expenses | |
|
|
Catholic Syrian Bank | Study in India | 15.75 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Tuition fees, cost of Books, purchase of computer, refundable deposits supported by bills, receipts | |
|
Catholic Syrian Bank | Study Abroad | 15.75 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Tuition fees, cost of Books, purchase of computer, refundable deposits supported by bills, receipts, travel expenses | |
|
Central Bank of India | Study in India | 11.25 | Fee payable to College / Hostel, Examination / Library / Laboratory, Purchase of books / equipments / instruments, Caution deposit / building fund, Purchase of computer | |
|
|
Central Bank of India | Study Abroad | 11.25 | Fee payable to College/Hostel, Examination / Library / Laboratory, Purchase of books / equipments / instruments, Caution deposit / building fund, Purchase of computer, Travel expenses / passage of money | |
|
|
Dena Bank | Study in India | 13.0 - 13.5 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Fee payable to college / hostel, Examination / Library / Laboratory, Purchase of books / equipment / instruments, Purchase of computer | |
|
Dena Bank | Study Abroad | 13.0 - 13.5 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Fee payable to colleges / hostels, Examination / Library / Laboratory, Purchase of books / equipment / instruments, Purchase of computer, Passage fare for travel | |
|
Federal Bank | Study in India | 15.75 | NA | |
|
|
Federal Bank | Study Abroad | 15.75 | NA | |
|
|
HDFC Bank | Study in India | 13.0 - 14.0 | Fee payable to college/ hostel/ Examination/ Library/ Laboratory, Purchase of books/ equipments/instruments, Caution deposit/ building fund, Purchase of computer | |
|
|
HDFC Bank | Study Abroad | 13.0 - 14.0 | Fee payable to college/ hostel/ Examination/ Library/ Laboratory, Purchase of books/ equipments/ instruments, Caution deposit/ building fund, Purchase of computer, Travel expenses/ passage money | |
|
|
ICICI Bank | Study in India | 13.75 | |
||
|
IDBI Bank | Study in India | 13.5 | Fee payable to college/hostel, Examination/ Library/ Laboratory, Purchase of books/equipment/instruments, Purchase of computer | |
|
|
IDBI Bank | Study Abroad | 13.5 | Fee payable to college/hostel, Examination/Library/Laboratory, Purchase of books/equipment/instruments, Purchase of computer, Passage fare for travel | |
|
|
Indian Bank | Study in India | 13.75 | Repayable in 5 - 7 years | Fee payable to college / hostel / exam, purchase of books / equipments, purchase of computer | |
|
Indian Bank | Study Abroad | 13.75 | Repayable in 5 - 7 years | Fee payable to college / hostel, exam, purchase of books / equipments, purchase of computer, travel expenses / passage money | |
|
Indian Overseas Bank | Study in India | 13.5 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | NA | |
|
Indian Overseas Bank | Study Abroad | 13.5 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | NA | |
|
Karnataka Bank | Study in India | 14.5 | Expenses for tuition fees, books, study material, hostel boarding and air travel | |
|
|
Karnataka Bank | Study Abroad | 14.5 | Expenses for tuition fees, books, study material, hostel boarding and air travel | |
|
|
Oriental Bank of Commerce | Study in India | 12.25 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Admission fee / Monthly fee / Examination fee, Books, equipments, expenses of hostel / expenses for study tours, project work, thesis | |
|
Oriental Bank of Commerce | Study Abroad | 12.25 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Admission fee / Monthly fee / Examination fee, Books, equipments, Air fare expenses of hostel, expenses for study tours, project work, thesis | |
|
Punjab National Bank | Study in India | 12.25 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Fee payable to College / Hostel, Examination / Library / Laboratory fee, Purchase of books / equipments / instruments, Caution Deposit / Building Fund | |
|
Punjab National Bank | Study Abroad | 12.25 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Fee payable to College / Hostel, Examination / Library / Laboratory fee, Purchase of books / equipments / instruments, Caution Deposit / Building Fund, Travel Expenses / Passage, Purchase of computers | |
|
SBI Bank | Study in India | 13.0 - 14.0 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Fees payable to College / hostel / Examination / Library / Laboratory fees / Purchase of Books / Equipment / Instruments / Caution Deposit / Building Fund / Refundable Deposit / Purchase of computer | |
|
SBI Bank | Study Abroad | 13.0 - 14.0 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Fees payable to college / hostel / Examination / Library / Laboratory fees / Purchase of Books / Equipment / Instruments / Caution Deposit / Building Fund / Refundable Deposit / Travel Expenses / Passage money / Purchase of computer | |
|
State Bank of Mysore | Study in India | 13.25 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Tuition and other fees / maintenance costs / books and equipment | |
|
State Bank of Mysore | Study Abroad | 13.25 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Tuition and other fees / maintenance costs / books and equipment and cost of passage | |
|
State Bank of Patiala | Study in India | 14.0 | Repayment starts 1 year after course completion/ 6 months after obtaining employment (whichever earlier) | Fee payable to college/ hostel/ Examination/ Library/ Laboratory, Purchase of books/ equipments/instruments, Caution deposit/ building fund, Purchase of computer | |
|
State Bank of Patiala | Study Abroad | 14.0 | Repayment starts 1 year after course completion/ 6 months after obtaining employment (whichever earlier) | Fee payable to college/ hostel/ Examination/ Library/ Laboratory, Purchase of books/ equipments/ instruments, Caution deposit/ building fund, Purchase of computer, Travel expenses/ passage money | |
|
UCO Bank | Study in India | 13.25 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Course Fees, Hostel fees, Books, Equipment, Computers, Examination / Library / Laboratory fees | |
|
UCO Bank | Study Abroad | 13.25 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Course Fees, Hostel fees, Books, Equipment, Computers, Examination / Library / Laboratory fees, Travel Expense | |
|
Union Bank of India | Study in India | 12.0 - 12.5 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | NA | |
|
Union Bank of India | Study Abroad | 12.0 - 12.5 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | NA | |
|
Vijaya Bank | Study in India | 11.75 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Fee payable to college / hostel / Examination / Library / Laboratory, Purchase of books / equipments / instruments, Caution deposit / building fund, Purchase of computer | |
|
Vijaya Bank | Study Abroad | 11.75 | Repayment starts 1 year after course completion / 6 months after obtaining employment (whichever earlier) | Fee payable to college / hostel / Examination / Library / Laboratory, Purchase of books / equipments / instruments, Caution deposit / building fund, Purchase of computer, Travel expenses / passage money | |
 |
|
|
|
|
|
 |
Education or student loans rates given above are indicative in nature. It is based on market research conducted by the Apnaloan Research Bureau every week. The actual rates at which an individual will be able to get loan against property depends on the individual's financial profile and negotiating ability.