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Educational Loan 

Government of India in consultation with Reserve Bank of India (RBI) and Indian Banker's Association (IBA) has framed a Comprehensive Educational Loan Scheme to ensure that no deserving student in the Country is deprived of higher education for want of finances. The new scheme covers all type of courses including professional courses in schools and colleges in India and abroad. The Salient features of the scheme are as under: 1. The scheme envisages loans up to Rs.7.5 lakh for studies in India and up to Rs. 15 lakh for studies abroad. 2. For loans up to Rs. 4 lakh no collateral or margin is required and the interest rate is not to exceed the Prime Lending Rates (PLR). For loans above Rs. 4 lakh the interest rate will not exceed PLR plus 1 percent. 3. The loans are to be repaid over a period of 5 to 7 years with provision of grace period of one year after completion of studies To know the rules, regulations, eligibility conditions, repayments and interests rates etc visit the below listed Banks Official Website . Allahabad Bank - www.allahabadbank.com Andhra Bank- www.andhrabank-india.com Bank of Baroda- www.bankofbaroda.com Bank of India - www.bankofindia.com Bank of Maharashtra - www.maharashtrabank.com Canara Bank - www.canbankindia.com Central Bank of India - www.centralbankofindia.com Corporation Bank - www.corpbank.com Dena Bank - www.denabank.com Indian Bank - www.indbank.com Indian Overseas Bank - www.iob.com Oriental Bank of Commerce - www.obcindia.com Panjab and Sindh Bank - www.psbindia.com Panjab National Bank - www.pnbindia.com State Bank of India - www.sbi.co.in State Bank of Bikaner and Jaipur - www.sbbjbank.com State Bank of Hyderabad - www.sbhyd.com State Bank of Indore - www.statebankofindore.com State Bank of Saurashatra - www.sbsbank.com State Bank of Travancore - www.sbtr.com Syndicate Bank - www.syndicatebank.com Uco Bank - www.ucobank.com Union Bank of India - www.unionbankofindia.com United Bank of India - www.unitedbankofindia.com Vijaya Bank - www.vijayabank.com