Education loans are easily accessible in India through various public and private sector banks and other companies. This list is not an exhaustive one but you can help by expanding it.
MHRD, Govt. of India has a scheme where economically weaker section of the country can afford educational loans under subsidized interest rates.
- Details can be found here
- Further information from UGC website
- Income certificate issuing authority in WB: District Magistrate/Additional District Magistrate/Sub Divisional Office/Block Development Office and The Collector for Kolkata City
- Income tax act 1961 section 80E - Deduction with respect to repayment of loan for higher education.
List of educational loan providers
|Provider name||Location||Eligibility||Interest rates|
|Sahu Jain Trust Education Loans (merit cum means)||India||Details, Engineering, Medical, MBA, IT||Interest free soft loan|
|Interest Subsidy Education Loans (Canara Bank as nodal bank)||India||Details||Details|
|West Bengal SC, ST Development and Finance Corporation||India||For SC, ST students in WB, Details||5% per year, 4% for women candidates|
|Canara Bank||India, Abroad||Details||Online application and Form|
|State Bank of India||India, Abroad||Details||Details|
|HDFC Bank||India, Abroad||Details|
|ICICI Bank||India, Abroad||Details|
|WB Minorities Development and Finance Corporation||India||Medical, Engineering, Nursing, Management, Details||No interest (if paid in two years)|
|Axis Bank||India, Abroad||Details||Details|
|United Bank of India||India,Abroad||Details|
|Bank of Baroda||India, Abroad||From nursery level to PhD, Details||13-15%, Details|
|Credila (HDFC company)||India, Abroad||UG, PG, Details||11.75%, Details|
|Punjab National Bank||India, Abroad||UG, PG, vocational Details||14-16%, Details|
|The K.C. Mahindra Scholarship for Post-Graduate Studies Abroad||Abroad||PG||Interest free Details|
|The Mahindra Fellows Fund||Abroad||PG||Details|