Bandhan Bank Education Loan: Overview
Bandhan Bank Education Loan is designed to support students in funding their higher education, both in India and abroad. It helps cover tuition fees, accommodation costs, and other academic expenses while offering flexible repayment options and competitive interest rates.
Below are the key details of the loan:
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Bandhan Bank Education Loan Interest Rates
Bandhan Bank provides competitive rates for both personal loans for education and Sushiksha loans, customised to meet the diverse financial needs of students.
Here are the starting interest rates offered by Bandhan Bank for education loans based on the employment type and loan tenure.
Sushiksha Loan Interest Rate
The table below summarises the current interest rate and processing fee for the Sushiksha Loan offered by Bandhan Bank.
Also Read: How do Education Loans Work in India - Complete Guide
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What is Susiksha Education Loan by Bandhan Bank?
The Susiksha Education Loan by Bandhan Bank is designed to support students in pursuing higher education. It is exclusively for existing micro banking customers.
Here are its other features:
- Quicker loan approval and disbursement
- Loan amount: ₹1,000 – ₹10,000
- Loan tenure: Up to 1 year
- Convenient doorstep banking: biometric authentication and loan disbursement
- Simple and minimal documentation
Bandhan Bank Education Loan Benefits
The various benefits of Bandhan Bank education loan include the following.
- Bandhan Bank Education Loan offers a competitive interest rate starting from 9.47% p.a., making it affordable for students.
- It provides a flexible repayment tenure of up to 60 months, ensuring convenient loan management.
- Borrowers can make partial payments to reduce their financial burden and repay the loan faster.
- Loans of INR 10 lakh or more have no foreclosure charges, allowing early repayment without extra fees.
Bandhan Bank Education Loan Eligibility Criteria
Here’s a structured overview of the eligibility criteria for applying for an education loan with Bandhan Bank:
Specific Criteria for Salaried Individuals, Self-Employed Professionals, and Non-Professionals
Sushiksha Loan Eligibility Criteria
Approval Based on Student Potential. Got Great Grades in 12th? Do Check your Eligibility.
Bandhan Bank Education Loan Documents Required
Here are the essential documents required to apply for Bandhan Bank Education Loan:
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Bandhan Bank Education Loan Calculator
Bandhan Bank education loan calculator helps you estimate the monthly EMIs you will need to pay towards your loan, allowing you to make informed financial decisions.
Some of the crucial factors affecting Bandhan Bank's education loans are as follows.
- The principal is the initial loan amount disbursed, directly affecting EMIs—higher principal means higher EMIs.
- The rate of interest determines borrowing costs, with higher rates leading to higher EMIs and lower rates reducing them.
- Loan tenure is the repayment duration, where a longer tenure lowers EMIs and a shorter tenure increases them.
You can also use our EMI calculator for a seamless experience.
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How To Apply For Bandhan Bank Education Loan?
You can apply either online or offline. Below, we have detailed out the procedure for both types of applications.
Also Read: How to Apply for Education Loan in India- Complete Process
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Bandhan Bank Education Loan for Abroad
Bandhan Bank offers education loans for students pursuing higher studies abroad, covering tuition fees, living expenses, travel costs, and other academic essentials. With competitive interest rates, flexible repayment options, and high loan amounts, it helps students finance their international education without financial stress.
Applicants must be Indian citizens with confirmed admission to a recognized university abroad and a co-applicant with a stable income.
Check out other important details:
- Maximum Loan Amount: Up to ₹25 lakh
- Interest Rate: Starts from 10.25% per annum
- Repayment Tenure: Up to 60 months, including a moratorium covering the course duration plus one year
- Expenses Covered: Tuition fees, Travel expenses, Health insurance (if applicable), Caution deposits, Books, equipment, instruments, and uniforms, Miscellaneous course-related expenses
While Bandhan Bank Education Loan look appealing, you might want to have a comparative analysis as to why Propelld can be a better choice:
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Why Choose Us?
Choosing the right education loan is tough with so many options. But what makes us different? Here’s a clear, honest comparison to help you decide with confidence.
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