One of the best ways to turnaround your life is studying in Top universities in USA either through self-funding or morethrough education loan in USA. The U.S. is one of the most important destinations chosen by students from across the world. Due to incomparable studying options and class-apart living environment, US makes it to the #1 position for which education loan is taken. SBI and Bank of Baroda education loan is quite a good option to consider, if public sector bank is what you are looking at.
SBI, which is the oldest national bank in India, has a lot of credibility and offers education loan for studying abroad in the US through its scheme called SBI Global ED-VANTAGE. Through this scheme, SBI offers a loan amount of up to Rs.1 Crore.
Apart from SBI, there are other options, such as Credila education loan in USA and overseas education loan of Bank of Baroda. Baroda Scholar Loan is among the top rated education loan in usa. This loan is made available to postgraduate and undergraduate students. The universities which fall under the A-list category are always given preference. Credila education loan, in the meanwhile, is offered by HDFC and comes with its own sets of advantages. This is yet another excellent option if you wish to go for NBFC.
Comparison for education loan in USA
| Name of the Bank | Maximum Loan Amount | Interest Rate | Period of Loan | Loan Eligibility | Processing Fees
Chargeable & Upfront Charges |
|
| Bank Of Baroda | Upto INR 60 / 80 lakhs for secured loans. | 7.00 – 9.00 % | Course period + 1 year or 6 months after getting a job | Must be an Indian national.
Must have an unconditional offer letter from university. |
1.00 % Fixed (Non Refundable) +
Insurance ( Non Collateral) |
|
| State Bank of India | Limited by 80% – 100% of
collateral or Maximum 100% cost of study |
9.05% to 10% | Course period + 1 year or 6 months after getting a job | All courses with good employment prospects stand eligible. | INR 10,000 +GST (
Non Refundable) + Optional Insurance+ Mortgage Fees – 0.2%+Legal Verification +Valuation |
|
| HDFC Credila | Upto INR 35/45 Lakhs
Unsecured and Unlimited Secured Loans |
11.00 – 13.00 % | 1 year after course completion / 6 months after course completion | Must be an Indian national.
Must have an unconditional offer letter from university. |
1.00 % Fixed (Non Refundable) +
Insurance ( Non Collateral) |
|
Among these loan options, SBI education loan comes as a top priority for students and professionals alike due to the extensive reach of SBI. The reason is its higher loan amount sanctioned and credibility as the oldest nationalized bank play an important role for SBI.
Easy loan application process through EduLoans
EduLoans offers easy loan application processing. Fast, transparent, and hassle-free application process for education loan in USAmakes it a preferred choice among students to choose EduLoans. Apart from this, SBI is our trusted partner and EduLoans offers SBI education loan through a separately dedicated department. EduLoans has dedicated loan counsellors for each profile, which helps in getting education loan in USAin lesser time than usual, making it a great option for students needing quicker loans. Please reach out to us at www.eduloans.org to get all the loan options which suite your requirement.