EDUCATION LOANS .....

Student loans in India (popularly known as Education loans) have become a popular method of funding higher education in India with the cost of educational degrees going higher. The spread of self-financing institutions(which has less to no funding from the government) for higher education in fields of engineering, medical and management which has higher fees than their government aided counterparts have encouraged the trend in India. Most large public sector and private sector banks offer educational loans.

Under section 80(e) of the Indian Income tax act, a person can exempt the amount paid against the interest of the education loan - either for self or for his/her spouse or children - for eight years from the year (s)he starts to repay the loan or for the duration the loan is in effect, whichever is lesser.

BANKS IN INDIA OFFERING EDUCATION LOANS :

• Indian Bank
• State Bank of Mysore
• Andhra Bank
• Bank of India
• State Bank of Indore
• Karnataka Bank
• Bank of Maharashtra
• Bank of Rajasthan
• Canara Bank
• Catholic Syrian Bank
• Central Bank
• Dena Bank
• Development Credit Bank
• Federal Bank
• HDFC Bank
• IDBI
• Mysore Bank
• Oriental Bank of Commerce
• Indian Overseas Bank
• Punjab and Sind Bank
• State Bank of Hyderabad
• State Bank of India
• Syndicate Bank
• UCO Bank
• United Western Bank
• Vijaya Bank
• Vysya Bank
• United Bank Of India
• State Bank of Saurashtra

Till some years back higher education and quality education was not affordable to some illustrious students because of the financial constraints. There was no any alternative but to jump in the job market prematurely.

And this led to untimely end of budding talents and their forceful transformation into to the mediocrity. Scholarships were there, but those were so less in numbers that only luckier few could avail them. But now the scene has changed drastically. Mostly students can benefit from.Even private banks are not lagging far behind. The wave of change could be well gauged from the amusing situation that immediately after the results announcements of CAT or PMT/ IIT JEE, the representatives of the banks queue up for giving education loans to the successful candidate even with very flexible conditions. This scenario is certainly helping the illustrious students to pursue higher education and realize their dreams. Here, we have tried to list the name of banks and the details about various educational loans provided by them.