6. Dena Bank: Dena Bank’s new scheme named Dena Vidya Laxmi educational loan aims to bridge gap between you and higher education to ensure bright future. This education loan is applicable for students who have secured admission to professional or technical courses in India or foreign university. Loans are available for courses including graduation, post-graduation, Masters and PhD; and professional courses in India and other job oriented courses like MCA, MBA, MS and courses conducted by CIMA-London, CPA in USA, with an interest rate of 11.80 percent for loan amount of both 4 lakh and above 4 lakh.

7. State Bank of India: SBI offers education loan for eligible courses, graduation courses, PG courses, professional courses and other courses approved by UGC or Government or AICTE. The bank also provides term loan to Indian Nationals for pursuing higher education in India and abroad where admission has been secured before applying for loan. This education loans cover the expenses like fee payable to college or school or hostel, fee payable for examination or Library or Laboratory fee, purchase of books or equipments or instruments or uniforms and many more including travel expenses or passage money for studies abroad. The interest rates applied on education loan by the SBI is 13.5 percent on loan amount up to 4 lakh and 13.75 on any loan amount beyond 4 lakh to 7.5 lakh.

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