Education Loan: Most of the parents in our country want to give the best education to their children. However, high quality education is usually quite expensive. Due to which thousands of children across the country miss their education every year due to lack of money.
Education loan If you want to give good education to your children and you do not have money then there is no need to worry. For this, some banks of the country are giving education loan at the lowest interest for good education of children. With which now you will be able to get good education for your children by taking education loan from the bank. Let us tell you that most of the parents in our country want to give the best education to their children. However, high quality education is usually quite expensive. Due to which thousands of children across the country miss their education every year due to lack of money. And they are not able to get good education.
Actually, in India, the practice of education loan for course and degree studies has become common now. Education loans are often used to cover course-related expenses, which include tuition, accommodation, clothing, library and laboratory fees, books and much more. Here we are telling you about the list of those banks. Which are giving education loan at low interest rates for the education of children.
Central Bank Of India
According to the data, so that children can get good education, Central Bank of India is giving education loan at the lowest interest rate of 6.95 percent. The bank is giving loans up to 20 lakhs for 7 years. Which can be repaid in equated monthly installment (Rs 30,136).
Punjab National Bank
Punjab National Bank (PNB) is offering education loan at an interest rate of 7.45%. The total EMI for a loan of Rs 20 lakh is Rs 30,627.
SBI offers education loans to students at an interest rate of 7.5%, which is slightly higher than normal. The EMI of this loan is Rs 30,677. Apart from this, Union Bank of India and IDBI Bank also offer education loan at the same rate of interest.
Indian Bank charges an interest rate of 7.9% for a seven-year loan of Rs 20 lakh. Its EMI is Rs 31,073.
Bank Of Baroda
Bank of Baroda charges an interest rate of 7.9% on education loan of Rs 20 lakh for a tenure of seven years. The EMI of Bank of Baroda loan is Rs 31,073.
The interest rate of this state-owned bank is 8.25 percent. Its EMI comes to a total of Rs 31,422.
20 lakh education loan from Canara Bank with payback period of seven years offers an interest rate of 8.3%. The total EMI of its loan is Rs 31,472.
Bank Of Maharashtra Education Loan
Bank of Maharashtra interest rate for student loans is 8.35%. Its monthly payment is Rs 31,522.