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BCK-15 : Dr.Baba Saheb Ambedkar Loan for higher study in foreign countries

For Details, visit https://sje.gujarat.gov.in/dscw/schemes/1537?lang=english

Education Loan

Leading Indian banks offer education loans to help students achieve their academic objectives. A school loan with a payback duration of up to 20 years starts at 7.00% per year in interest. Both in-country and out-of-country higher education can benefit from education loans.

The lender will determine which courses are qualified for an education loan. An education loan may be obtained for courses beginning in Nursery. You can acquire a loan for full-time or part-time courses, as well as loans for working professionals, for higher education.

Compare Top Education Loan Offers 2023

Name of Bank	Interest Rate (p.a.)	Processing Fees
SBI	8.20% onwards	Up to Rs.10,000 No charged required for loan amount below Rs.20 lakh Loan amount above Rs.20 lakh: Rs.10,000 (plus taxes)
Central Bank of India	8.20% to 11.50%	Nil for studies in India
PNB	8.55% onwards	Rs. 250 plus GST
Canara Bank	8.60% onwards	0.50% of the loan amount up to Rs.10,000 (for collateral security coverage of 100% and above)
IDFC FIRST Bank	9% to 15%	Up to 1.5% of the loan amount
IDBI Bank	9.10% onwards	1% of the loan amount (Maximum: Rs.5,000)
Bank of Baroda	9.15% onwards	No processing charges up to Rs.7.50 lakh1% of loan amount up to Rs.10,000
Bank of India	9.25% onwards	No processing fee for studies in India
ICICI Bank	9.85% onwards	Up to 2% + GST
Bank of Maharashtra	10.30% to 11.95%	Contact the bank
Axis Bank	13.70% to 15.20%	2.00% of the loan plus GST
HDFC Bank	Preferential rates as per the college or the university	As per the criteria of the bank
Kotak Mahindra Bank	Up to 16%	Nil
Federal Bank	Contact the bank	Contact the bank

Note: These interest rates are effective as of June 2023 and are subject to change as per the bank's rules and regulations.

Depending on the bank or financial institution, you can have a fixed interest rate package or a fluctuating interest rate package. Most floating rates are based on the Repo Rate, with a spread applied before the final effective interest rate is presented to you (EIR).

For more details, visit https://www.bankbazaar.com/education-loan.html