Bank education loans in India
Banks lend for tuition, hostel and related costs. Rates are floating and depend on the bank, amount, security and institute.
Public sector banks
- SBI — Student Loan, Scholar Loan for premier institutes, Global Ed-vantage for study abroad, and PM-Vidyalaxmi products. Girl students often get a small rate concession. Check sbi.co.in for the current card.
- PNB, Canara Bank, Bank of Baroda, Union Bank — similar education loan products under the IBA model and scheme loans. Compare current rates on each bank’s site.
Private banks
- ICICI Bank — loans for India and abroad; rate depends on course and security.
- HDFC Bank — education loans for domestic and overseas study; processing can be faster, rates are often higher than public banks.
- Axis and others — compare fees and collateral rules.
Typical rules
- Loans up to ₹4 lakh are often without collateral under the model scheme
- Larger amounts usually need security or a scheme guarantee
- Moratorium is usually course period plus about one year
- Interest paid on education loans can be claimed under Section 80E — confirm with a tax adviser
This is not a rate quote. Banks revise rates. Confirm on the lender’s website.
Check affordability before borrowing
Estimate total course cost including living expenses, compare moratorium-period interest and repayment after graduation, and request a written sanction letter. Ask whether interest capitalizes during study; verify any subsidy with its official portal.
Practical checklist
- Identify your exact course, exam or objective, since requirements differ.
- Check primary information from the relevant official organization; note its publication date.
- Save documents or examples you need and verify unfamiliar claims before acting.
- Use the PrimePupil contact form to flag unclear, outdated or incorrect information.
Update reminder: This page is educational guidance. Eligibility, examination formats and scheme terms can change; the official announcement takes precedence.
This is general information for study planning. It is not financial advice, not an official notice, and not independently verified. Confirm rates, eligibility and deadlines on the official portal or bank before you apply.