Top Indian banks offering an education loan for studying abroad

Top Indian banks offering an education loan for studying abroad

Most leading banks in India offer student loans at attractive rates of interest to Indian students looking to study abroad.

  • Mahesh Ramani

In India the organised sanction of study loans by banks to students aspiring to complete their higher studies abroad began in 2001. A number of things have changed since the early beginnings in 2001.

The global economy has witnessed one of its worst down-turns; the U.S. dollar has hit a new low and then regained to bounce back and global crude oil prices are at an all-time high. In addition to all this the Indian economy is battling against a number of factors that make the disbursal of education-loans a very choosy affair. This has been actually caused by a majority of the students becoming loan defaulters and the banks classifying the loans granted to them as bad-debts.

Things look slightly better now with the Reserve Bank of India announcing welfare measures, which include the speedy disbursal of loans to deserving and meritorious students. This article looks at some of the top Indian banks, which offer study abroad loans.

Disclaimer – Please contact the concerned bank for specific details of loan eligibility, rates of interest and repayment terms and conditions online payday loans Fultondale.

Recently one of the students who approached Hotcourses India for study abroad guidance was granted a loan for INR 2,00,0000 by Credila and will be now flying to the USA to complete his studies.

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