Planning to take an education loan? PSBs are cheaper but need collateral

An overseas education loan can be challenging to analyse and understand as lenders structure it differently Public sector banks (PSBs) usually work out to be cheaper compared to private lenders. The former also have a lower or zero processing fee Private sector lenders may insist on full or partial interest during the duration of the course.

Many PSBs start the equated monthly instalment six months to one year after the completion of the course PSBs mandatorily ask for collateral if the loan value is above Rs 7.5 lakh. Some private lenders provide loan up to Rs 35-40 ...

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First Published: Sun, April 07 2019. 23:13 IST

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