SBI Vs HDFC Bank: Education Loan's Features, Conditions Compared
Education loans are loans issued for the purpose of attending an academic university and pursuing an academic degree. According to the definition of Investopedia, education loans can be obtained from the government or through private sector lending sources. Federal loans often offer lower interest rates. Some also offer subsidized interest. Private sector loans generally follow more of a traditional lending process for application with rates typically higher than federal government loans. Different banks offer varied choices of education loans. SBI's education loan is divided into five categories: scholar loan, global ed-vantage, student loan, skill Loan and take-over of education loans. HDFC Bank offers up to Rs 10 lakh as education loans for studies in India. (Also read: Fixed Deposit Interest Rates: SBI Vs Post Offices​)
State Bank of India (SBI) education loans
SBI's student loan is a term loan granted to Indian nationals for pursuing higher education in India or abroad where admission has been secured, as mentioned on the official website of SBI. The repayment period can go of up to 15 years after course period plus 12 months of repayment holiday. No processing / upfront charges are levied on education loans. One can avail a loan amount upto Rs. 10 lakh for studies in India and Rs. 20 lakh for studies abroad.
Â
SBi's scholar loan is available for courses at select leading institutions in India like IITs, IIMs, NITs, AIIMS and other premier institutions. One can avail a loan up to Rs. 30 lakh. Global ed-vantage loan is exclusively available for full-time regular courses at foreign colleges and universities. One can avail a loan from Rs 20 lakh up to Rs 1.5 crores. Skill loan is a term loan to Indian nationals for pursuing vocational education and training in India where admission has been secured.Â
With SBI's take-over of education loans, one can switch his/her existing high cost education loan to SBI and reduce monthly EMIs (Equated Monthly Instalments).Â
HDFC Bank's education loans
HDFC Bank offers up to Rs 10 lakh as education loans for studies in India. There are wide ranges of collateral options also available with HDFC Bank's education loans. According to HDFC, resident Indians between the ages of 16 and 35 are eligible for education loans. For Loan amount 4lac <=7.5lac: third party guarantee and parent(s) as joint borrower(s) are required. For loan amount > 7.5lac: tangible collateral security along with parents are required to be joint borrower(s). The maximum tenure can go up to 10 years for loans up to Rs 7.50 lakh. For loans above Rs 7.50 lakh, the maximum tenure can go up to 15 years.
Â
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
