Education is central to the Human Resources Development and empowerment in any country. Students perusing Higher Education don?t have to struggle hard anymore to finance their Studies as now many Banks in India have are providing student loans. Not only loans, private foreign banks also seem to be interested in funding students, enthusiastic enough to announce scholarships for bright and deserving students.

Government of India in consultation with Reserve Bank of India (RBI) and Indian Banker's Association (IBA) has framed a Comprehensive Educational Loan Scheme to ensure that no deserving student in the Country is deprived of higher education for want of finances. The new scheme covers all type of courses including professional courses in schools and colleges in India and abroad.

The Salient features of the scheme are as under:

1. The scheme envisages loans up to Rs.7.5 lakh for studies in India and up to Rs. 15 lakh for studies abroad.

2. For loans up to Rs. 4 lakh no collateral or margin is required and the interest rate is not to exceed the Prime Lending Rates (PLR). For loans above Rs. 4 lakh the interest rate will not exceed PLR plus 1 percent.

3. The loans are to be repaid over a period of 5 to 7 years with provision of grace period of one year after completion of studies

These bank Provide Education Loan:

# Andhra Bank # Allahabad Bank # Axis Bank # Bank of Baroda # Bank Of India # Bank of Maharashtra # Bank of Punjab

# Bank of Rajasthan

# Bassein Catholic Bank

# Bharat Overseas Bank

# Canara Bank

# Catholic Syrian Bank

# Central Bank of India # Centurion Bank of Punjab

# Citi Bank

# City Union Bank

# Corporation Bank # Dena Bank # Development Credit Bank

#Dhanalakshmi Bank

# Federal Bank

# HDFC Bank # HSBC Bank

# ICICI Bank # Indian Overseas Bank

# IDBI Bank

# Indian Bank # ING Vysya Bank

# Jammu & Kashmir Bank

# Karnataka Bank

# Karur Vyasa Bank

# Lakshmi Vilas Bank

# Oriental Bank of Commerce # Punjab National Bank # Punjab & Sind Bank # Ratnakar Bank

# State Bank Of India (SBI) # Saraswat Bank

# SBI Commercial and International Bank

# South Indian Bank

# State Bank of Bikaner & Jaipur # State Bank of Hyderabad # State Bank of Indore # State Bank of Mysore # State Bank of Patiala # State Bank of Saurashtra # State Bank of Travancore # Syndicate Bank # Tamilnad Mercantile Bank Ltd # Thane Janata Sahakari Bank

# UCO Bank # Union Bank of India # United Bank of India # United Western Bank

# Vijaya Bank