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This page mainly concentrates on bank loans for the convenience of students from India, as we receive heavy volume of enquires about Banks offering Loans for Education abroad. State Bank Of India (The most common Bank) | | Eligibility : Should be Indian national, should have secured admission to professional / technical courses. Amount : Maximum of 20 lakhs Margin : No margin is required up to 4 lakh loan. For studies abroad 15%. Interest rate : Up to 4 lakh approx. 12 % and above this amount approx. 13 %. Repayment : Repayment holiday – course period + one year or six months after getting a job, which ever is earlier. Loan to be repaid in approx. 5 – 7 years after commencement of repayment. WebSite : State Bank of India | | | | | | | | | | Oriental Bank of Commerce (Offers Flexible payment and Cheaper Intrests) | | | | | | Eligibility : Any students who has secured admission in any institute of repute whose degree is duly recognized.
Loan Amount : Upto 15 lakh for Studies Abroad
Repayment : Within 84 months in EMI’s commencing 12 months after completion of the course or 6 months after getting a job, which ever is earlier.
Rate of interest : Up to 4 lakh : 10.50 % per annum and above 4 lakh 10% per annum
WebSite : Oriental Bank of Commerce | | | | | | | Central Bank of India | | | | | | For pursuing post graduate and undergraduate courses / job oriented courses, professional courses of recognized universities in the field of engineering, computers, medicine, management accounting etc. Eligibility : Should be citizen of India having a good academic background and record and should have secured admission in a particular university after cleared entrance exam. Should have 60% in 10th and 12th and bachelors, (for SC /ST second class will be sufficient). Amount : Up to 15 lakh Margin : Up to 4 lakh or No margin Studies abroad : 15% (margin) WebSite : Central Bank of India | | | | | | | Punjab National Bank | | | | | | Eligibility : Should be Indian national in the age group of 16-45 years. For part time computer courses also available in the above age group. Should have pass marks in their last qualifying examination and have secured admission in recognized institute. Employed persons can also apply.
Amount : Rs. 15 lakh, in case of part time computer courses amount approx. 50,000 per annum or fee fixed by the particular institute, which ever is less.
Interest rate : Up to 4 lakh 12% per annum*. Over 2 lakh and up to 15 lakh 13% per annum.(* subject to change from time to time, contact close bank branch for updates)
Margins : NIL
Period : Principal and interest to be paid 84’ monthly installments. Repayment starts after 2 years of completion or one month after getting employment, which ever is earlier.
WebSite : Punjab National Bank | | | | | | | State bank of Hyderabad (A Common Bank in Andhra Pradesh) | | | | | | Eligibility : Should be Indian national. First division in lat education / selected professional program Amount : 90 percent of the cost of study, subject to a maximum of Rs. Eight lakh Margin : 10 percent Interest rate : Interest is compound on a quarterly basis Repayment terms : To be repaid in 60 months after the completion of the course of securing a job which ever is earlier. WebSite : State Bank of Hyderabad | | | | | | | Bank of India | | | | | | Graduate and Post graduate courses in Engineering, Computer Technology, Medicine etc.
Eligibility : Should be citizen of India having a good academic background and record and should have secured admission in a particular university after cleared entrance exam. Should have 50% in major subjects, eligibility norms relaxed for SC /ST
Amount : Up to 15 lakh
Margin : Up to 4 lakh NIL
Interest rate : 15%
Payments : With in 5 – 7 years
WebSite : Bank Of India
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| | | | | | | Allahabad Bank | | | | | | Eligibility : India national. should have secured admission / should already be studying in any of designated institutes.
Amount : 2.50 lakh
Repayment : Repayment is 48 equated monthly installments (EMI).
WebSite : Allabahad Bank
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NOTE: This Page contains details which have been Collected from other websites and compiled together for the benefit of students. Individual should verify the authenticity of the details posted here with the bank officials for more current updates on bank intrest rates etc.
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