Education loan without collateral:
If you are considering taking an education loan to continue your further studies, you must know about these banks because here, you can easily take a loan of up to 20 lakhs.
A meager rate of interest will be charged to you by these banks. Let us tell you that an education loan is given for seven years.
During this time, you are not charged money. After the completion of your studies, you have to deposit the loan. In such a situation, you must know about these banks.
These documents will be needed
You must have the mark sheet for classes 10th and 12th. Apart from this, it is also necessary to have a passing certificate.
The college or university to which you have been admitted. There admission letter, fee structure, and KYC documents of the applicant
State Bank of India
If you are looking for the cheapest education loan, visit the State Bank of India branch once. Here you can apply for loans up to Rs 20 lakh.
Punjab National Bank
Punjab National Bank is Public Sector Bank. Here you can apply for an education loan. Punjab Bank is charging 7.15 percent interest for education loans.
However, this interest rate keeps on changing from time to time. You can take an education loan of Rs 20 lakh for seven years from this bank.
Bank of Baroda
Bank of Baroda is also the country’s most significant public sector bank. Dena Bank and Vijaya Bank have been merged into this bank itself.
You can easily take an education loan from here too. This bank is also charging 7.15 percent interest.
When the Reserve Bank changes the repo rate, all the banks also change the interest rate on loans. You can get an education loan of up to Rs 20 lakh by applying to this bank.
