Lowest Education Loan: Interest Rates of Best Banks 2014


BANGALORE: Pursuing a higher education or any professional courses is no more a distant dream. With the help of education loans, you can now pursue your dream courses both in India and abroad. Many banks are offering education loans to potential students and do not worry! The steps are simple and easy; but the only thing you need to do is—a thorough research on banks. There are banks that provide education loans at cheaper rates but you should look for the bank that is suitable for you in terms of interest rates and longevity of repayment.

1. Central Bank of India: The main aim of Central bank of India is to bring education within the reach of students and help them improve their prospects in life. Thus, the bank has come up with the scheme cent vidyarthi that provides loan to poor and needy so that they can take up basic education. In addition, students and employed professionals can also avail this loan scheme to pursue their higher education. The maximum amount of loan provided by the Central bank of India is 10 lakh for pursuing studies in India and 20 lakh to pursue studies in abroad with an interest rate of 12.25 percent for male and 11.75 percent for female and SC/ST & IIM/IIT Students. Under this scheme, you can apply loan to pursue education both in India and abroad including graduation, post graduation, diploma or degree courses in science, technology, medicine, engineering, management courses; and law, accountancy leading to master's degree or post-graduate diploma even from recognized university abroad.

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