Interest Rates & EMI
Education Loan Interest Rates in India 2026: Bank-wise Comparison
Interest rates on education loans vary widely across lenders. We compare rates from SBI, Bank of Baroda, HDFC Credila, and more for 2026.
Public Sector Bank Rates
SBI Student Loan scheme offers rates starting at 8.15% p.a. (with 0.5% concession for female students). Bank of Baroda Baroda Vidya loan starts at 8.85% p.a. These rates are linked to the repo rate and subject to change.
Private Bank Rates
HDFC Bank education loans start at 9.55% p.a. ICICI Bank offers rates from 10.25% p.a. Private banks generally have faster processing but higher interest costs.
NBFC Rates
NBFCs like HDFC Credila, Avanse, and Auxilo charge rates between 11% and 14% p.a. While higher, they offer larger loan amounts without collateral and faster approvals for top-ranked institutions.
How to Get the Best Rate
- Apply with a co-applicant with a high CIBIL score
- Choose a government-ranked institution (NIT, IIT, IIM)
- Opt for a secured loan if you have collateral
- Compare offers from at least 3 lenders before deciding