Education Loan Interest 2025
In today's ever-changing world, prices are rising for everything. Even basic and essential things like education and healthcare are costing people lakhs of rupees. From big cities to small towns, education is becoming increasingly expensive. Children's school fees are reaching lakhs. Higher education is a different matter altogether. Engineering and other graduate courses have also become quite expensive. Private college fees are rising daily. If you are considering an education loan for yourself or your family, you should be aware of the interest rates of both private and public banks in India. This will help you choose the right bank and avoid any difficulties. Additionally, you can avoid financial loss.
Interest rates of different banks
The country's largest public sector bank, State Bank of India (SBI), offers student loans at interest rates ranging from 7.15% to 10.15%. HDFC Bank, the largest private sector bank, offers education loans at interest rates ranging from 9% to 10.25%. However, the interest rates for both banks depend on the course you choose and the loan amount. Banks also consider several other factors.
Enrolling in a good and reputable college can help you secure an education loan quickly. Punjab National Bank (PNB) also offers education loans to students at interest rates starting at around 8.55%. Similarly, Bank of Baroda (BOB) offers loans to its customers at interest rates ranging from 7.10% to 9.95%. Canara Bank education loan interest rates range from 7.10% to 10.35%.
