Student Loan – Bankers Wale

What We Offer

Apply for Student Loan Online at Lowest Interest Rate

Indian banks typically offer student loans at interest rates ranging from 8% to 13% per annum, depending on the loan amount, institution, and borrower’s credit profile. Public sector banks like SBI, PNB, and Canara Bank often provide slightly lower rates compared to private banks. Many banks also offer concessions of 0.5% for female students and for loans backed by a government guarantee or studying in premier institutions like IITs or IIMs.

Students seeking education loans can now benefit from a centralized and convenient platform that simplifies the entire loan process. This digital education loan portal, developed under the guidance of the Ministry of Finance, Ministry of Education, and the Indian Banks Association (IBA), allows students to search, apply, and track their education loan applications online. Managed by Protean eGov Technologies Limited (formerly NSDL eGovernance Infrastructure Limited), the portal ensures transparency, ease of access, and faster processing. Whether for undergraduate, postgraduate, or professional courses, students can explore loan schemes from multiple banks and financial institutions with just a few clicks.

Student Loan Benefits:
Student loans offer financial support for higher education with flexible repayment options and interest subsidies.

Key Benefits:

Easy access to funds for tuition and other expenses
Moratorium period (no repayment during study + grace period)
Lower interest rates for female students
Tax benefits under Section 80E
No collateral required for smaller loan amounts
Builds a positive credit history with timely repayment

Documents Required for Student Loan in India:

Loan application form (duly filled)
Passport-size photographs
Proof of identity (Aadhaar, PAN, Passport, etc.)
Proof of residence (Utility bill, Aadhaar, etc.)
Academic records
Fee structure from the institution
Income proof of co-applicant/guardian (Salary slips, ITR, Form 16)
Bank statements (usually last 6 months)
PAN card of student and co-applicant
Collateral documents (if applicable for higher loan amounts)

Student Application Form

KINDLY FILL THE BELOW MENTIONED DETAILS

Your Name(Required)

First Last

Father Name(Required)

First Last

Date Of Birth(Required)

Present Address(Required)

Street Address Address Line 2 City ZIP / Postal Code Country

Permanent Address

Street Address Address Line 2 City ZIP Code

Your Email Address(Required)

Email Address Confirm Email Address

Contact Number

Pan Card Number(Required)

Aadhar Card Number(Required)

Bank Account Number(Required)

IFSC CODE

Branch IFSC code

FEES STRUCTURE

From the institution

Previous Loan

YES

Upload Pan Card

Max. file size: 2 MB.

Back Side

Max. file size: 2 MB.

Academic records

Max. file size: 2 MB.

Marksheets, Admission letter

Income proof of co-applicant/guardian

Max. file size: 2 MB.

Salary slips, ITR, Form 16

Aadhar Card Front

Max. file size: 2 MB.

Aadhar Card Back

Max. file size: 2 MB.

Applicant Photo

Max. file size: 2 MB.

Co- Applicant Photo

Max. file size: 2 MB.

Bank Statement – 6 Months

Max. file size: 2 MB.

Here’s a comparison of student loan interest rates from major Indian banks (as of 2024; may vary slightly):

Bank	Interest Rate (per annum)	Female Concession	Remarks
State Bank of India (SBI)	8.55% – 10.80%	0.50% off	Lower rates for premier institutes
Punjab National Bank	8.80% – 11.25%	0.50% off	Scheme-based variations (PNB Pratibha)
Bank of Baroda	9.15% – 11.20%	0.50% off	Zero margin money for loans < ₹4 lakh
Canara Bank	8.85% – 10.85%	0.50% off	Longer repayment tenure
ICICI Bank	10.50% – 13.00%	No specific concession	Faster processing, unsecured options
Axis Bank	11.00% – 13.50%	Case-based	Offers loans for international studies
HDFC Credila	11.00% – 13.00% (Avg.)	Custom	Specializes in education loans abroad

Here is a comparison of Monthly EMI, Total Payment, and Total Interest for a ₹5 lakh student loan over 7 years across various banks:

Bank	Interest Rate (%)	Monthly EMI (₹)	Total Payment (₹)	Total Interest (₹)
SBI	9.00	8,044.54	6,75,741.29	1,75,741.29
Canara Bank	9.25	8,108.12	6,81,082.16	1,81,082.16
PNB	9.50	8,171.99	6,86,447.23	1,86,447.23
Bank of Baroda	9.75	8,236.15	6,91,836.44	1,91,836.44
ICICI Bank	11.50	8,693.23	7,30,231.35	2,30,231.35
Axis Bank	12.00	8,826.37	7,41,414.78	2,41,414.78
HDFC Credila	12.50	8,960.62	7,52,692.01	2,52,692.01

What We Offer

Apply for Student Loan Online at Lowest Interest Rate

Student Application Form

KINDLY FILL THE BELOW MENTIONED DETAILS

Here’s a comparison of student loan interest rates from major Indian banks (as of 2024; may vary slightly):

Here is a comparison of Monthly EMI, Total Payment, and Total Interest for a ₹5 lakh student loan over 7 years across various banks:

Contact Us

Plan for tomorrow and choose the right Loan

Our Email

What We Offer

Apply for Student Loan Online at Lowest Interest Rate

Student Application Form

KINDLY FILL THE BELOW MENTIONED DETAILS

Here’s a comparison of student loan interest rates from major Indian banks (as of 2024; may vary slightly):

Here is a comparison of Monthly EMI, Total Payment, and Total Interest for a ₹5 lakh student loan over 7 years across various banks:

Contact Us

Plan for tomorrow and choose the right Loan

Our Email

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