Education and Career Forum

Hi, I wish to do a Hotel Management degree course from IIHM for which I need educational loan. From which bank can I get educational loan? Which banks would be good nationalized or private sector banks? How can I proceed? Which all documents would be required for educational loan?

The rate of interest on education loans are lesser in govt. banks in comparison to the private sector banks. Also the rate may vary as per the loan amount. You can compare online by visiting bank's official websites.

Below documents are mainly required to apply for education loan -
KYC documents
Income proof (ITR/ Bank statement/ Payslips)
Residence proof
Copy of admission letter of the Institute along with fees schedule
Mark sheets / passing certificates of all S.S.C., H.S.C, Degree courses
for loan amount transfer you need Demand letter from college or university

Nationalized Bank/private bank :-
1)Punjab National Bank ('PNB Saraswati scheme' and 'PNB Udaan' scheme to provide education loan to students who are planning to pursue higher studies.
2)Axis Bank ( Education Loans for studies both in India and abroad starting from Rs. 50,000 at attractive interest rates.)
3)HDFC Bank Education Loan(Education Loan for Indian Education 9.20% to 13.64%)
4) Vijaya Bank Education Loan
5) Union Bank of India Education Loan ( maximum limit for pursuing courses in India is Rs. 20 Lakhs and for overseas the maximum loan amount is Rs. 30 Lakhs.)
6) State Bank of India Education Loan(SBI Student loan Scheme 10.80%)
7) Punjab National Bank Education Loan
8) ICICI Bank Education Loan(Education loan for domestic and international studies
Starting at 11.5%)
9)Corporation Bank Education Loan
10)Canara Bank Education Loan
11). Bank of Baroda Education Loan

**Documents required for Education Loan
-KYC documents.
-Bank Statement / Pass Book of last 6 months.
-Optional – Guarantor Form.
-Copy of admission letter of the Institute along with fees schedule.
-Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses.
-Id proof