Education Loan for BITS Pilani

Other Financial Institutions

Features State Bank of India
(Varies across Banks)
Loan Limit Rs. 50 Lakhs Up to Rs. 40 Lakhs
Up to 100% finance 100% finance Up to 100%
Collateral Free Yes Offered by select few
Effective ROI (Linked to EBR) 8.20% ROI may be slight less but with conditions *
Co-borrower obligation No Yes
Insurance No Mandatory at major banks

Loan sanction with admission confirmation Yes Yes

Repayment tenure up to 15 years in easy EMIs 15 years Up to 15 years

Second Loan (Top-up Loan) Yes Offered by select few

Tax benefit under Section 80E of Income Tax
Yes Yes
Act
Hidden charges No May be

*Includes interest obligations on mandatory life insurance being bundled by them as a package with education loan