Do you want to take out a loan for your studies, do you know which bank is the best? Here are the names of the banks with the lowest interest rates

New Delhi. Often, some students cannot study at a large institute or go abroad simply because they do not have the money to pay the expensive fees. In such a situation, an education loan is one such option that can help you study at the college or university of your dreams. Currently, in addition to state and private banks, many non-bank financial companies and international banks offer student loans at affordable interest rates.

If you want to educate yourself by taking out a loan, tell them that you should apply for the loan from the bank or company that gives you the cheapest loan. Because after taking out the loan, you have to pay it back and if interest rates are high, you bear the burden. Here we tell you about some banks that offer loans at the lowest interest rate.

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State Bank of India (SBI) interest rates.
SBI currently offers education loans at the lowest interest rate. The bank’s annual interest rate on education loans starts at 8.55 percent. You can apply for loans up to Rs 50 lakh from SBI. There is no processing fee for borrowing up to Rs 20 lakh. On the other hand, you have to pay a processing fee of Rs 10,000 for loans over Rs 20 lakh. There is no security for SBI’s education loan up to Rs 7.5 lakh but if the loan amount is higher then you are required to provide security.

Punjab National Bank (PNB) interest rates.
The Punjab National Bank interest rate on education loans starts at 8.55 percent. No limit was set on the amount of the loan. You can borrow as much money as you need. You need to pay GST in PNB along with Rs 250 as handling fee. Again, no security is required for education loans up to Rs 7.5 lakh, but if the loan amount is above that, you are required to provide security.

Bank of Baroda (BOB) interest rates.
The Bank of Baroda is also included in the list of banks offering education loans at the lowest interest rates. This bank’s interest rate for the student loan starts at 9.15 percent. In this you can apply for a loan of up to Rs 1.25 crore. You do not need to pay any processing fee or security for loans up to Rs 7.5 lakh. On the other hand, if the loan amount is more, you have to pay 1% of the amount as a fee. However, the maximum processing fee is 10,000 rupees.

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