An education loan helps in funding your educational expenses. It is offered for all types of eligible courses in India and abroad. An education loan covers expenses such as tuition fees, library costs, accommodation, travelling expenses etc. The interest rates vary from bank to bank. Education loans are offered by all private and government banks. The leading government banks offer the lowest interest rates compared to others. If you are planning to take an education loan, take a look at the top five lowest interest rates from government banks.
|Central Bank of India||6.85%|
|Bank of India||6.85%|
|Punjab National Bank||6.90%|
|State Bank of India||6.90%|
Compiled by BankBazaar.com from respective bank’s website as on 08 Oct 2020. BankBazaar.com, India’s leading online marketplace for loans and credit cards.
Disclaimer: Banks are listed in ascending order on the basis of interest rate i.e. bank offering lowest interest rate on education loan (Loan amount up to Rs 20lakh is placed at top and highest at the bottom. Lowest rate offered by the banks on loan up to Rs 20 lakh is considered in the table.