For students, September has been a crucial month this year. In India, lakhs of students appeared for the Joint Entrance Exam (JEE) and National Eligibility cum Entrance Test (NEET) after a prolonged tussle with the central government.
It’s also that time of the year when overseas-bound students pack their bags to head for their chosen destination country for higher studies.
Public sector banks show the way
While private and foreign banks vie hard for slices of businesses in other loan segments, particularly credit cards, public sector banks rule the roost in the education loan category.
At 6.80 per cent for a Rs 20-lakh study loan with a tenure of seven years, PSU major Union Bank of India offers the lowest rate at present, according to data compiled by BankBazaar.
It is followed by Central Bank of India and Bank