NEWS & ADVICE : EDUCATION LOANS
Banks to provide more facilities through education loan to medical students
By Neelima Shankar
Apr 4, 2014
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It has been reported that 5 leading banks of the country will be assisting with more enhanced services to the medical students to acquire the medical studies easily. State bank of India, IBDI bank, HDFC bank, bank of Baroda and PNB bank will be providing easy education loan for medical students.

Medical education is another field of education which is quite expensive, due to which students find it difficult to pursue medical studies. Now with the help of banks students can avail loan for medical studies easily.

SBI provides education loan above Rs.4 Lakhs at 3.5% and above Rs.7 Lakhs at 2% above the stated base rate. From IDBI Bank, students can get the educational loan for medical courses up to Rs 10 lakh. The bank puts no loan margin up to an amount of Rs. 4Lakhs but above for applying loan above Rs 4 Lakh, 5 per cent is applied to the total expenditure on the course if a student studies in India, whereas the HDFC bank provides education Loan up to Rs. 10 lakh and unsecured lending up to Rs. 7.5 lakh. No collateral will be required for loans upto Rs. 7.5 lakh. In PNB bank the educational loan that can be availed up to a maximum limit of Rs. 10 lakhs. Bank of Baroda provides loan, up to Rs.10 lakhs. The loan margin is provided above Rs.4 lakhs, which is 5 per cent and above Rs 4 lakh it is 15 per cent. Students wanting to study abroad can avail the loan up to Rs 20 lakhs.


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