Education and Career Forum

Hello, I will apply for Education Loan for doing Master of Pharmacy course. I have heard that first I need to compare education loans of various banks. So, I want to know the process that how can I compare education loans of many banks, I don’t want to consume time much for this so please suggest me some easiest way.

When you are going to apply for a student loan, first decide which kind of bank you want to choose, private bank or government bank. Then, compare the interest rate between various banks. Check the margin percentage. Repayment option and time. Choose a bank which gives you the loan amount in lower interest with greater margin amount.

Here is the list of interest rate of some banks,
public banks charge ranges from 8.5% to 10.5%.*
SBI Bank - 9.5% - 10%
Punjab National Bank - 9.45%
Bank of Baroda - 9.75% - 11%
Canara Bank - 9.95% - 10.45%.