Condition of education loan in India is improving day by day even private banks are not
lagging far behind.this is a good sign for Indian students.
as soon as results of CAT or PMT/IIT, JEE declairs all the banks announces new flexible
education plans every year.
Main eligibility criteria:
a)1)Student should be Indian Citizen
2)Secured admission to professional/ technical courses in India or Abroad
through Entrance Test/ Merit Based Selection process.
b)Eligibility courses for loans:
studying in Indian universities :
Private banks has their own codes for education loan, usually they accepts applicationfrom students studing following courses:
*Graduation courses : BBA,BA,B.Com.,B.Sc.,etc.
*Post Graduation courses : Masters & Phd
* Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management,
Computer etc.
*Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to university.
*Courses like ICWA, CA, CFA etc.
* Courses conducted by IIM, IIT, IISc, XLRI. NIFT etc.
* Regular Degree/Diploma courses like Aeronautical, pilot training, shipping etc., approved by Director General of Civil Aviation/Shipping, if the course is pursued in India. In case the course is pursued abroad, the Institute should be recognized by the competent local aviation/shipping authority
*Courses offered in India by reputed foreign universities.
*Evening courses of approved institutes.
*Other courses leading to diploma/ degree etc. conducted by colleges/ universities approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc
*Courses offered by National Institutes and other reputed private institutions. Banks may have the system of appraising other institution courses depending on future prospects/ recognition by user institutions.
*Courses, which are not covered under the criteria mentioned above, individual banks may take a view to consider extending
* education loan under the scheme taking into account the future prospects/recognition by user institution.
studying in Abroad universities :
* Graduation : For job oriented professional/ technical
* courses offered by reputed universities.
* Post graduation: MCA, MBA, MS, etc.
* Courses conducted by CIMA- London, CPA in USA etc.
Education Loans Providing Indian Banks Lists:Karur Vyasa Bank, Lakshmi Vilas Bank,
Oriental Bank of Commerce, Andhra Bank, Allahabad Bank,Punjab & Sind Bank, Punjab National Bank,
Ratnakar Bank, Saraswat Bank, Axis Bank, Bank of Baroda,
Bank Of India, Bank of Maharashtra, Bank of Punjab,
Bank of Rajasthan, Bassein Catholic Bank, Bharat Overseas Bank,
Canara Bank, Catholic Syrian Bank, Central Bank of India,
Centurion Bank of Punjab, Citi Bank, Thane Janata Sahakari Bank,
UCO Bank, Union Bank of India, United Bank of India, United Western Bank,City Union Bank,
Corporation Bank, Dena Bank, Development Credit Bank, Dhanalakshmi Bank,
Federal Bank, HDFC Bank, HSBC, ICICI Bank, Indian Bank,
Indian Overseas Bank, IDBI Bank, ING Vysya Bank, Jammu & Kashmir Bank,
Karnataka Bank, SBI Commercial and International Bank,
South Indian Bank, State Bank of Bikaner & Jaipur, State Bank of Hyderabad,
State Bank of India (SBI), State Bank of Indore, State Bank of Mysore,
State Bank of Patiala, State Bank of Saurashtra, State Bank of Travancore,
Syndicate Bank, Tamilnad Mercantile Bank Ltd.