Education and Career Forum

Hello sir, I was completed 12th with PCB group ten years ago. Now I am planing to get education loan up to 4 lakh to study. Which bank should I apply to get education loan at minimum interest rate?

The interest is almost same in all banks owing to the fact that it is regulated by Reserve Bank of India. It fluctuates as per orders from Reserve Bank of India from time to time. Since you want education loan less than or equal to 4 lakhs, then State Bank of India is the best option. This is because it offers one percentage lesser rate of interest as compared to other banks and for loan up to 4 lakhs, the terms and conditions are not very strict. You can also try for other banks and see whether you are getting any opportunity of subsidy or not. If getting subsidy then opt for the concerned bank which is providing you that.

Any PSU bank nearest to your residence will be the best option for education loan. Banks like SBI, BoB, UBI, Allahabad Bank etc provide education loan for deserving candidates.

Applying at PSU banks can help you get interest subsidy if you belong to a poot family according to government scheme for education loan.