Interest Rate Comparison:
Punjab National Bank – 8.50% onwards
Canara Bank – 9.15% onwards
State Bank of India – 8.30% onwards
IDBI Bank – 8.85% onwards
Bank of India – 9.10% onwards
Tamil Nadu Mercantile Bank – 11.90% to 12.15%
HDFC Bank – 9.55% to 13.25% (full time course)
12.75% (part time course)
UCO Bank – Up to 11.95%
Karnataka Bank – 9.98% onwards
Federal Bank – 12.30% onwards
Karur Vysya Bank – 11.20% to 13.70%
Axis Bank – 13.70% to 15.20%
Kodak Mahindra Bank – Up to 16%
Almost all banks do not charge any processing fee for education loans. While other loans have high operational charges, no fees are charged considering the academic service.What is needed?
Some documents are required for availing education loan. College admission letter along with completed loan application along with passport size photograph, entrance exam pass documents, mark sheet of previous educational qualification, scholarship related documents etc. and proof of non-loan from any other bank.