Bank of Baroda is offering Education Loan at the rate of 8.45 percent to 10.75 percent. This bank is giving loans up to Rs 1.25 crore to the customers. There is no processing fee for loans up to Rs 7.5 lakh, whereas loans above this will attract 1% fee.
SBI is giving cheap education loan
If you want to study abroad by taking loan, then you have many options. There are many banks which are cheap Loan Give it and your dream of studies comes true. In banks, you have many options, not just one, like public sector bank, Private Banks, Non-Banking Finance Companies and International Banks. It is up to you from where to take a loan and fulfill your dream of studies. In the midst of all this, you must keep one thing in mind that where is the cheapest education loan Are getting. the bank or finance company If the loan is cheaper, it will be beneficial to take the loan because less interest will have to be paid.
Apart from the interest, you should also keep in mind the processing fee of the education loan, eligibility to get the loan, etc. To know which bank is giving loan at what rate, you can visit the website of that bank or you can get information by visiting the branch of that bank. For example, State Bank of India is offering education loans ranging from 7.95 to 11.15 percent, Bank of Baroda from 8.45 to 10.75 percent and Punjab National Bank from 8.65 to 11.40 percent.
1-State Bank of India
State Bank of India (SBI) is currently providing education loan at the lowest rate. The interest rate of this bank ranges from 7.95 percent to 11.15 percent. SBI is giving education loan up to Rs 50 lakh to the students. If a loan is taken up to Rs 20 lakh, then no processing fee will be levied on it. There is a processing fee of Rs 10,000 for loans above 20 lakhs. The processing fee for the scholar loan is zero. There is no margin for loans up to Rs 4 lakh and there is a margin of 5% for loans above Rs 4 lakh. There is no security on SBI’s education loan of Rs 7.5 lakh, whereas security will have to be given for more than that.
2-Bank of Baroda
Bank of Baroda is offering Education Loan at the rate of 8.45 percent to 10.75 percent. This bank is giving loans up to Rs 1.25 crore to the customers. There is no processing fee for loans up to Rs 7.5 lakh, whereas loans above this will attract 1% fee. The maximum amount of processing fee is Rs 10,000. The margin on loan up to Rs 4 lakh is zero, whereas if you take a loan above that, you will have to pay a margin of 5%. There is no security on loan up to 4 lakhs. Third party guarantee is required on 4 lakh to 7.5 lakh loan. For loans above 7.5 lakhs, one and a quarter of the loan amount will have to be deposited as security.
3-Punjab National Bank
The interest rate of Punjab National Bank education loan is 8.65 to 11.40 percent. There is no limit on the loan amount. Any amount of money required can be taken as loan. 1% of the loan amount will have to be paid as processing fee. There is no margin on loans up to 4 lakhs, but there is a 5 percent margin on loans above 4 lakhs. There is no security on loans up to 7.5 lakhs. More than that would require security.
English News Heading: sbi vs bank of baroda vs punjab national bank check latest education loan interest rate