Education Loan : In today’s time, it has become necessary to get a good education, but the cost of education has increased. Because of this, many people leave their studies midway. For such people, there is a loan facility in banks. If you want to study, but do not have money for the fees, then you can take a loan from these 3 banks:
ICICI Bank
You can take a loan of up to Rs 1 crore for studies from ICICI Bank. If you are studying abroad, you can get a loan of up to Rs 3 crore. The interest rate of this loan can be from 9.5% to 11.31% per annum. ICICI Bank also gives education loan without any guarantee. Also, tax exemption is also available on the interest paid on the loan under section 80E of the Income Tax Act.
State Bank of India (SBI)
If you want to take an education loan from State Bank of India (SBI), then the interest rates here can be up to 11.15%. In particular, the bank offers a discount of 50 basis points for girl students. Under SBI’s Scholar Loan Scheme, loans can be availed at low interest rates for some premier institutes. If you are taking a loan for premier institutes like IIT, then you can get a loan at an interest rate between 8.05% to 9.65%.
HDFC Bank
The interest rate on education loan in HDFC Bank is 9.5%. If the loan amount is more than Rs 7.5 lakh, then a processing fee will also be charged, which is 1% of the loan amount. By taking a loan from these banks, you can continue your studies and make a successful career in the future.