By Admin 
Now big and expensive studies like MBA will not be limited to the rich only. If you are also dreaming of management studies but are retreating due to fees, then this news is for you. In today’s time, many government and private banks, finance companies and NBFCs are giving education loans to students who want to do professional courses like MBA.
In India’s top management colleges such as IIM, XLRI, FMS, ISB or any famous private university, MBA fees can range from Rs 10 lakh to Rs 25 lakh. In such a situation, it is not easy for the middle class family to raise such a huge amount. But the education loan is making this difficulty easier.
What is the benefit?
On taking education loan, the student does not have to pay any installment at the time of studies. The process of repaying the loan begins only after the course is completed and the job. EMI is also very easy so that even in the initial salary, students can repay the loan without burden.
Which banks give loans?
Government banks like SBI, PNB, Bank of Baroda as well as HDFC, ICICI Bank, Axis Bank and many finance companies provide education loans. Some institutions also give loans without guarantee, especially if you have taken admission in the top college.
What is the interest rate?
The interest rate of education loan is usually between 8% to 12%. But many government schemes, such as credit guarantee scheme or subsidy scheme for minority/SC/ST students are also available, which can reduce the interest rate.
How to apply?
For education loan, you can apply by going to the bank’s website or branch. Some important documents such as admission letters, previous education certificates, Aadhaar-Pain Card and Co-Applicant’s income have to be submitted.
ALSO READ- JEE Advanced Result 2025: The path of admission in the top IITs is clear, JEE Advanced’s result released
Education loan information:
Calculate Education Loan Emi