Education is indeed a basic need like food, clothing and shelter. Education is expensive, be it in India or overseas. Education loans are considered as the best suitable ways to cover the cost of studying in India or abroad. In India, good quality higher education can cost anywhere from ₹ 10 lakh to ₹ 30 lakh, while sending your children overseas can cost at least ₹ 30 lakh. There is a huge demand in education for various courses. 

Considering the increasing trend of fees to be paid for courses, getting an education loan is an easy way to finance your dreams. Education loans or student loans are applied for by the student, along with parent, guardian or a third-party guarantor. The purpose of an education loan is to cover all expenses incurred while studying, which typically include admission, tuition, examination and library fees; boarding and lodging; cost of laptop /computer, books, and other equipment; travel expenses and health insurance.

Federal Bank grants education loans to study in India and abroad. The maximum loan amount for studying in India is limited to Rs.10 Lakhs for studies in India and up to Rs.20 Lakhs abroad. Loan can be availed for higher studies in India & Abroad excluding vocational training & skill development study courses. No security is needed Up to Rs 4 Lakhs. No repayment during Moratorium period and repayment can be made in easy EMIs.

To know more about education loan schemes offered by Federal Bank, please click here.