LOAN PRODUCT 05
Education Loan
Union Bank of India and State Bank of India provide education loans at 8.15% for both domestic and overseas higher studies. Loans up to ₹7.5 Lakhs are approved without collateral, and EMIs begin 6–12 months after the course is completed.
Interest RateFrom 8.15% p.a.
Max AmountUp to ₹75 L
Apply for Education Loan
100% tuition & living cost funding.
Check Eligibility Complete moratorium supportEducation Loan EMI Calculator
₹20,00,000
10 Yrs
8.15%
Monthly EMI₹24,424
Total Interest₹9,30,920
Total Payable₹29,30,920
Top Education Loan Lenders
| Bank | Rate | Processing Fee | Tenure |
|---|---|---|---|
| Union Bank | 8.15% - 9.25% | Nil (India courses) | 15 Yrs |
| SBI (Ed-Vantage) | 8.30% - 9.50% | ₹10,000 + GST | 15 Yrs |
| Canara Bank | 8.50% - 9.75% | Nil up to ₹7.5L | 15 Yrs |
Eligibility Criteria
- Confirmed admission in recognized college/university
- Co-borrower mandatory (Parent / Guardian)
- Academic track record: Consistent 60%+ marks
Required Documents
- College Admission Offer Letter & Fee Schedule
- Past Academic Records (10th, 12th & Degree Marksheets)
- Co-Applicant KYC & 6 Months Bank Statement
- Property Papers (if the loan amount exceeds ₹7.5 Lakhs)