Bank of Baroda
Bank of Baroda Education Loan
Rate from8.45%
Max amount₹1.5 Cr
EMI/L · 7y₹1,581
Disbursal10-15 business days
- Lowest education loan rates
- Government bank reliability
CIBIL: 700+ · Student
Education Loans from 8.45%
Compare rates from 8 lenders. Zero spam calls.
EMI:₹24,744
at 8.45% (lowest available)
Showing 8 education loans
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Punjab National Bank
PNB Education Loan
Rate from8.45%
Max amount₹2 Cr
EMI/L · 7y₹1,581
Disbursal10-15 business days
- High ceiling for overseas study with collateral
- PMSSS subsidy for minority community
CIBIL: 700+ · Student
State Bank of India
SBI Education Loan
Rate from8.55%
Max amount₹1.5 Cr
EMI/L · 7y₹1,586
Disbursal7-15 business days
- Largest education loan disburser in India
- No collateral up to ₹20L
CIBIL: 700+ · Student
ICICI Bank
ICICI Bank Education Loan
Rate from10.50%
Max amount₹1 Cr
EMI/L · 7y₹1,686
Disbursal10-15 business days
- Branch network advantage
- Digital application via iMobile
CIBIL: 700+ · Student
HDFC Credila
HDFC Credila Education Loan
Rate from10.50%
Max amount₹2 Cr
EMI/L · 7y₹1,686
Disbursal10-15 business days
- Specialized education loan NBFC
- Pre-visa disbursal
CIBIL: 700+ · Student
IDFC FIRST Bank
IDFC FIRST Bank Education Loan
Rate from11.25%
Max amount₹1 Cr
EMI/L · 7y₹1,725
Disbursal7-12 business days
- Digital-first application
- Covers premier Indian institutes
CIBIL: 700+ · Student
Avanse Financial
Avanse Education Loan
Rate from11.50%
Max amount₹2 Cr
EMI/L · 7y₹1,739
Disbursal7-12 business days
- Specialized education NBFC
- Fast processing
CIBIL: 680+ · Student
Axis Bank
Axis Bank Education Loan
Rate from12.00%
Max amount₹75 L
EMI/L · 7y₹1,765
Disbursal10-15 business days
- Covers niche and unconventional courses
- Gap-year funding
CIBIL: 700+ · Student
Showing 8 of 8 education loans. Browse all loan types →
What is a education loan in India?
Education loans fund course fees, living expenses, and ancillary costs in India or abroad. Public-sector banks lead on rate — SBI and Bank of Baroda start at 8.45-8.55% — but take longer to process and require collateral above ₹20 lakh. HDFC Credila and Avanse are specialist NBFCs with faster pre-visa disbursal for overseas students at 10.50-13.50%. All education loans carry a moratorium (course duration + 6-12 months) during which EMI doesn’t start; interest accrues as simple interest for most public banks.
How to choose the best education loan
- For studies in India below ₹20 lakh — use SBI, Bank of Baroda, or PNB. Lowest rates and no collateral needed.
- For overseas studies — HDFC Credila or Avanse process faster and cover 2,500+ universities. Pre-visa disbursal is crucial for visa applications.
- Vidyalakshmi interest subsidy is available for EWS applicants to premier institutions — knocks 2-3 percentage points off your effective rate.
- The tax benefit under Section 80E on education-loan interest has no upper cap. Claim it for the full moratorium + repayment period (max 8 years).
Want to calculate EMI for a specific loan amount and tenure? Use our EMI calculator. Looking for a different loan type? See our full loans hub.