Education Loan Interest Rates

Education loan is the best way to pursue higher education without getting your finances disturbed. You can take education loan for courses in India or abroad. For unemployed students, their guardian or parents need to be guarantor.

Education loan interest rate calculator

Education loan interest rate calculator helps you know the loan amount you are eligible for borrowing and the interest rate at which the loan will be available to you. The calculator helps you in knowing the EMI you are required to pay after the course is completed and the benefit of repaying the loan at the earliest.

SBI education loan interest rate

The SBI education loan is available without any processing fee and repayment period of upto 12 years after Course Period. It offers loan of up to Rs 30 lakhs and loan for numerous courses and university.

Loan Amount

Rate of Interest*

For loans upto Rs.4 lacs

13.20% p.a.

Above Rs.4 lacs and upto Rs.7.50 lacs

13.45% p.a.

Above Rs.7.50 lacs

11.45% p.a.


  • 0.50% concession in interest for girl student
  • 1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration
  • IT exemption under Section 80(E) in respect of interest paid in all Education

Education loan interest rate in Indian Bank

Indian Bank offers education loan to meet the cost of education that includes fee payable to college / school / hostel, exam fees, purchase of books / equipment's, travel expenses / passage money for studies abroad, purchase of computers essential for completion of the course etc.

For meritorious and deserving candidates, the loan quantum can be further increased.

Interest rate is as below-

  • 12.25 % p.a. at present (irrespective of the loan limit sanctioned under both IBA as well as non-IBA scheme)
  • Concession of 0.50% in applicable rate of interest will be allowed on fresh Educational Loans under IBA Scheme to Girl Students for studies in India and Abroad with effect from 1st July 2009. This interest concession will not be applicable to Education Loans under non-IBA scheme.
  • Educational Loan borrowers who are enjoying finer rate of interest allowed to select premier educational institutions.
  • Floating Rate linked with Base Rate (BR) of the Bank and liable to undergo changes whenever there is a change in BR.

Canara bank education loan interest rate

Canara Bank offers nil margin and 100% finance for loans up to Rs 4 lakh. It allows multiple co-borrowers for the loan for maximum loan. Loans upto Rs 4 lakh are available without collateral and upto Rs 7.5 lakh with third party guarantee. And loans above Rs 7.5 lakh can be availed by submitting the adequate collateral asked for.


Courses in India

Courses Abroad

IIT, IIM, ISB Courses

Interest Rates




Loans upto Rs. 4 lakh




Loans Rs. 4.0 – 7.5 lakh




Loans > Rs. 7.5 lakh




Education loan interest rate in Andhra bank

Andhra bank offers education loan for higher studies in India and Abroad and educational loans for pursuing Vocational Courses. And any individual of any age group is eligible for an education loan.


Rate of Interest.

Up To Rs. 7.50 Lakhs

Base Rate+2.75%

Above Rs. 7.50 Lakhs

Base Rate+1.50%

  1. 0.50% concession for girl students.
  2. Concessional interest rates also apply for student who is pursuing their education at premier institutions. This applies on the base rate of 10.25%.
  3. Simple interest will be charged through the study period and upto the commencement of repayment.
  4. Accumulated interest will be compounded at the start of repayment tenure and the applicable EMI will be fixed accordingly.

Education loan interest rate in PNB

Education loan by PNB helps to meet the educational needs such as fee payable to school/ college/ hostel, examination fee, insurance premium etc.

Rate of Interest

  • Loan upto Rs 4 lac – Base Rate+2%
  • Loans above Rs 4 lac upto Rs 7.50 lac – Base Rate+3%
  • Loans above Rs 7.50 lac – Base Rate+2.50%
  • Base Rate+1% to be charged for all loans, irrespective of amount, where 100% tangible collateral security in the shape of IP, enforceable under SARFEASI act, and/or liquid security is available.
  • Simple interest be charged during the Repayment holiday/ Moratorium Period

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