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Educational Loans

In a fast growing economy , Education of its citizen play a crucial role. Our Country's Nationalized and Private Banks are offering the facility to avail Educational Loan for pursuing Higher Education Courses in India and Abroad. Educational Loans plays a pivotal role in the Higher Education Sector and helps the future citizens to achieve their dream career. Most of the Banks offer a hassle free system for availing Educational Loans unlike other Loans as Government entertain them for the same. The  Govt had opened a one channel system called Vidya Lakshmi through which a student can apply and complete the formalities for Educational Loans.

Interest Rates

According to the Policies and strategies of Banks, Educational loans are provided at an interest rate ranging from 7.30% to 16% per annum.

Bank NameInterest RateMaximum Loan Amount
PNB7.30% onwardsUp to 15 Lakhs
SBI7.97% p.a. - 10.05% p.a.Above Rs. 20 Lakh
Axis Bank13.70% to 15.20%Up to 7.5 Lakh
Bank of Baroda8.25% to 10%*Up to 4 Lakh and above
Union Bank of India6.90% onwardsNeed based Finance
Bank of India9.10% onwards

For courses in India: Up to Rs.10 lakh

For courses abroad: Up to Rs.20 lakh

ICICI BankStarting at 10.75 %* per annumUp to Rs 50 lakhs for domestic courses
Up to Rs 1 crore for international courses
Federal Bank10.05% onwards

For courses in India: Up to Rs.10 lakh

For courses abroad: Up to Rs.20 lakh


Collateral: Security 

Collateral-free loans up to Rs.7.5 lakh from leading lenders

Collateral-free loans up to Rs.20 lakh for select courses/institutions from select lenders

Acceptable collateral: Residential or commercial property or plot, fixed deposits, insurance

Single Window for Education Loans

Vidya Lakshmi is a first of its kind portal for students seeking Education Loan. This portal has been developed under the guidance of Department of Financial Services, (Ministry of Finance) , Department of Higher Education (Ministry of Education) and Indian Banks Association (IBA).The portal has been developed and being maintained by NSDL e-Governance Infrastructure Limited. Students can view, apply and track the education loan applications to banks anytime, anywhere by accessing the portal. The portal also provides linkages to National Scholarship Portal.

About NSDL e-Gov

NSDL e-Governance Infrastructure Limited (NSDL e-Gov) was originally setup as a Depository in 1995 and has over the years used its inherent strengths, project management capabilities & technology expertise to deliver state of the art e-Governance solutions which has helped Governments to identify and clear bottlenecks, promote transparency, reduce service delivery costs and deliver public services efficiently. The solutions have efficiently made use of information and communication technologies as a tool for delivering public services and benefits to society at large.

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